Inheriting a house can be an emotional and complicated experience. Along with memories and family history, an inherited property can come with important financial, legal, maintenance, and real estate decisions.
If you’ve recently inherited a house in Tucson, you may be wondering: What should I do first? Should I sell it, rent it, keep it, or wait?
The good news is that you don’t have to make every decision immediately. Taking a methodical approach can help you protect the property, understand your responsibilities, and determine the best option for the estate and your family.
Here are the most important steps to take after inheriting a house.
1. Secure the Property
Your first priority should be making sure the inherited home is safe and secure.
If the property is vacant, check that doors and windows are locked and consider changing the locks. You should also make sure the home has adequate insurance coverage and that utilities remain active when necessary.
For a vacant Tucson property, it’s particularly important to stay on top of:
- Landscaping and yard maintenance
- Air conditioning
- Plumbing
- Pool maintenance
- Pest control
- Mail and packages
- Security
- Home inspections
Regularly checking the property can help identify problems before they become expensive repairs.
2. Locate Important Documents
Before making decisions about the property, gather the relevant documents associated with the home and the estate.
These may include:
- The will or trust
- Deed and title documents
- Mortgage information
- Property tax records
- Homeowners insurance
- HOA documents
- Utility information
- Previous repair records
- Property warranties
- Probate court documents
If the property is going through probate, an attorney or other qualified estate professional can help explain what authority you have to make decisions regarding the property.
3. Determine Who Owns the Property
It’s important to understand how the property was owned before deciding what to do with it.
The home may have been owned individually, jointly, through a trust, or in another form of ownership. The ownership structure can affect whether probate is necessary and who has authority to sell or otherwise transfer the property.
Don’t assume that inheriting a house automatically means you can immediately list it for sale.
If you’re uncertain about the legal status of the property, consult an Arizona probate or estate attorney before signing contracts or making major decisions.
4. Continue Paying Property Expenses
Even when a property is inherited, bills don’t simply disappear.
Until the home is sold, transferred, or otherwise resolved, the estate may have ongoing expenses such as:
- Mortgage payments
- Property taxes
- Homeowners insurance
- Utilities
- HOA dues
- Landscaping
- Pool service
- Repairs
- Pest control
Keeping these expenses current can help protect the property while you determine what to do next.
5. Don’t Immediately Start Making Major Renovations
One of the most common mistakes families make after inheriting a house is spending substantial money on improvements before determining whether those improvements are actually necessary.
A house that needs updating doesn’t necessarily need a complete remodel.
Before spending estate funds on renovations, consider having the property evaluated by an experienced local Realtor. You may discover that the home can be sold in its current condition, potentially saving the estate significant time and money.
6. Decide What to Do With Personal Belongings
Inherited homes often contain years or even decades of personal belongings.
Give yourself time to determine what family members want to keep before arranging for everything to be removed.
Depending on the circumstances, belongings may be:
- Distributed among family members
- Donated
- Sold
- Stored temporarily
- Removed by an estate cleanout company
If the property will eventually be listed for sale, clearing unnecessary belongings can make it easier to evaluate the home’s condition and prepare it for buyers.
7. Determine the Property’s Current Market Value
Before deciding whether to sell, it’s important to understand what the inherited house is actually worth in the current Tucson real estate market.
A professional comparative market analysis can consider:
- Recent sales of similar homes
- Neighborhood conditions
- Property size
- Lot size
- Condition
- Improvements
- Location
- Current buyer demand
Knowing the potential market value can help you compare the financial advantages of selling versus renting or keeping the property.
8. Consider the Tax Implications
Inheriting real estate can have tax implications, particularly if you later sell the property.
The tax basis of inherited property and potential capital gains consequences can be different from those associated with purchasing a home yourself.
Because tax circumstances vary from one estate to another, it’s important to speak with a qualified tax professional or CPA about your specific situation.
A Realtor can provide information about the real estate market, but your attorney and tax professional should advise you regarding legal and tax matters.
9. Decide Whether to Sell, Rent, or Keep the Home
Once you understand the property’s condition, value, expenses, and legal status, you can begin considering your options.
Sell the House
Selling may make sense if:
- Multiple heirs want to divide the proceeds
- The family doesn’t want to maintain the property
- The home needs significant repairs
- There are substantial ongoing expenses
- The property doesn’t fit your long-term plans
Rent the House
Renting may be an option if the property is in a desirable Tucson rental market and the family wants to generate ongoing income.
However, being a landlord comes with responsibilities, expenses, maintenance, vacancies, and potential management issues.
Keep the House
Some heirs decide to move into the property or retain it as a long-term investment.
If you choose this option, make sure you understand the property’s ongoing costs and how ownership will be handled if multiple heirs are involved.
10. Get Professional Guidance Before Listing
Selling an inherited property can be different from selling a home you’ve lived in for years.
There may be multiple decision-makers, probate requirements, title issues, deferred maintenance, personal belongings, and emotional considerations.
A Realtor experienced with inherited and probate properties can help you understand the real estate side of the process and develop a strategy based on your goals.
Why Work With a Tucson Probate Realtor?
An experienced probate Realtor can help you evaluate the property before you make expensive decisions.
The right Realtor can assist with:
- Determining market value
- Identifying repairs that may—or may not—be worthwhile
- Preparing the property for sale
- Coordinating cleaning and vendors
- Marketing the home
- Negotiating offers
- Communicating with multiple heirs
- Working alongside attorneys and other estate professionals
- Developing an appropriate selling strategy
Most importantly, a knowledgeable Realtor can help you avoid rushing into a decision before you understand your options.
Meet Tucson Realtor Ryan Comstock
Ryan Comstock, Realtor® with eXp Realty, specializes in helping families navigate the sale of inherited and probate properties throughout Tucson and Southern Arizona.
As a Certified Probate Real Estate Specialist, Ryan understands that selling an inherited property involves more than determining a listing price. Families may need help understanding the property’s condition, preparing it for sale, coordinating the process with multiple parties, and determining whether selling as-is or making improvements makes the most sense.
Whether you’ve recently inherited a home or you’re serving as the personal representative of an estate, Ryan can help you evaluate the real estate options available to you.
Don’t Rush—Start With the Right Information
Inheriting a house can feel overwhelming, especially when you’re dealing with the loss of a loved one at the same time.
You don’t have to decide immediately whether to sell, rent, or keep the property.
Start by securing the home, gathering important documents, understanding the ownership and probate requirements, maintaining the property, and determining its current market value.
Once you understand your options, you can make a decision that’s appropriate for your family and the estate.
Contact Ryan Comstock
Ryan Comstock, Realtor®
eXp Realty
Certified Probate Real Estate Specialist
Phone: (520) 261-4669
Email: ryancomstock@ryancomstock.com
Office: 177 N. Church Ave. #805, Tucson, AZ 85701
Website: www.ryancomstock.com
Ryan serves Tucson, Oro Valley, Marana, Sahuarita, Vail, and surrounding Southern Arizona communities.
Inherited a house in Tucson? Call Ryan Comstock at (520) 261-4669 to discuss your property and learn about your options for selling.