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Inheriting a House: 5 Top Things You Should Know

Posted by Satyam Patel // November 7, 2018

Inheriting a house can feel like winning the lottery. When inheriting a house, there are a number of difficult emotional and financial decisions to make.  The following are the top five things one should know when inheriting a house:   Bills and Debt come quick It is advisable not to make quick decisions in the […]


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If You’re A First Time Landlord – Read This!

Posted by Satyam Patel // November 5, 2018

On the surface, being a landlord seems pretty simple. You find a tenant and wait for the first of every month for rent checks to pour in. At the end of the lease you repeat the process and start all over again. Anyone who owns rental property knows this isn’t exactly how things work. There […]


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Benefits in Keeping an Inherited Property

Posted by Satyam Patel // October 31, 2018

Inheriting a house can be exciting yet stressful at the same time. You may find yourself struggling between keeping it or selling it.  Avoid going back and forth. Approach it from a logical perspective to help you make the right decision. In this situation, it is best to step back and allow yourself space to reflect […]


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Benefits in selling an Inherited Property

Posted by Satyam Patel // October 24, 2018

Everyone’s circumstances will differ.  Most individuals will want to sell an inherited property. The benefits for individuals will also vary because of differences in each person’s financial situation.  For many, the general benefits of selling an inherited house are as follows:   Family Relationships:No one wants to fight with family.  It is worth making efforts […]


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Inherited a House: Now what? – Part VII: Wrapping up three options

Posted by Satyam Patel // October 17, 2018

Last several weeks, we explored various options a person can take when inheriting property.  You have to gather all pertinent financial information, examine the physical state of the property, and communicate with the stakeholders. Once that has been completed, it is time to decide on what to do with this property you have inherited. Make […]


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Inherited a House: Now what? – Part VI: Multiple Stakeholder Options

Posted by Satyam Patel // October 10, 2018

Last week we examined the most obvious and straightforward option, which is to sell the property. What are some other options when there are multiple stakeholders?   Rent: There are times when the real estate market is not doing well. It might not make financial sense to sell the property and split the proceeds. Waiting […]


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Inherited a House: Now what? – Part V

Posted by Satyam Patel // October 3, 2018

In the month of September, we examined the areas of grief, taxes, mortgage, and potential repairs. All of these are important considerations in terms of inheriting a house. Have you ever thought about stakeholders?   What are stakeholders? A stakeholder can be any individual who is affected by the inherited property. They basically have a “stake” […]


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Inherited a House: Now what? – Part IV

Posted by Satyam Patel // September 26, 2018

Last week, we focused on examining the mortgage of the property.  This week let us look at another area of importance: repairs.   What condition is the Inherited House? An inherited house may not be in good condition to sell or rent at market value.  Many times, people are dealing with a house a loved […]


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Inherited a House: Now what? – Part III

Posted by Satyam Patel // September 19, 2018

After generically examining the tax implications and reminding one to seek professional advice, it is important to consider the actual decision with regard to this house. The final decision on how to handle the inherited house is going to dictate the financial status of the individual who inherits this house. What are some things to […]


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Inherited a House: Now what? – Part II

Posted by Satyam Patel // September 12, 2018

Are there tax implications? It is common that individuals would wonder about tax implications. After inheriting a house, one should seek information on inheritance taxes and question whether or not any taxes will have to be paid in association to this house. Just because you inherited a house does not mean automatically there is a […]


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