Why sell an Inherited house to The Home Buyer Team vs a traditional sale?
Cash offer from The Home Buyer Team
Did you know that if you hold onto your inherited house for too long you may have to pay extra in capital gains taxes? The fact is when some inherits a home, the IRS notes the current fair value of the home. Let’s say the home is $100,000 when you inherit it. If you hold and sell the home traditionally for $110k through a traditional listing with an agent a year later, you will be responsible for paying capital gains tax on the extra $10,000.
However, If you sell a cash buyer soon after inheriting the home for $99,000, that’s is $99k in your pocket, which may be subject to estate tax depending on state, but not capital gains.
If the goal is to avoid high capital gains taxes, you will need to sell your property quickly.
When you sell your inherited home with The Home Buyer Team, you will get all all cash offer, often within 48 hours. Our investors are buying it “as is” so you do not need to make any alterations, repairs or updates to the home. You also choose when to close to give your family flexibility to remove important heirlooms and time to handle more pressing issues after the passing of a loved one. Selling quickly with a cash offer limits your capital gains taxes and also lets you take advantage of the full market price of your property.
Request a cash offer from The Home Buyer Team, and our agents can show you what your total lump sum could be as an individual or divided amongst heirs.
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Information submitted on this site will be sent to a network which consists of real estate investors, real estate agents, and direct buyers.
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This does not obligate us to buy your home nor you to sell it.
Information submitted on this site will be sent to a network which consists of real estate investors, real estate agents, and direct buyers.