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Inheriting A House? Here Are Your Options

Quicken Loans

Converting the home into a rental , for example, may seem like a great way to profit off the home without selling it, but managing landlord responsibilities is no simple feat – especially if you’ve never managed rental properties before. Consult a tax adviser to go over your options for determining fair market value.

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What to Do If You Inherit A Home

McKissock

This means having to renovate the house so that it is in good condition, which is never cheap. Note: Keep in mind that you will need to ensure the property is in the best shape for you to live in (renovation costs) and that moving in could lead to an increase in property taxes. Download here. Rent out the property.

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A property tax reckoning is coming

Housing Wire

Minority homeowners are paying more for public services relative to the market value of their homes, the researchers wrote, a dynamic the researchers demonstrated in all but a handful of states. There is a great reluctance on part of most homeowners to have an interior inspection,” said Youngman. Taxpayers revolt.