3 Things You Must Do after Inheriting a Home

There can be a lot of excitement when it comes to the realization that you’ve inherited a home, but simply because it’s an inheritance doesn’t mean there aren’t a few strings attached. Whether you’re expecting to be gifted with a home in the future or you’re currently going through this process, here are a few things you may need to watch out for.

The State Of The Mortgage

Once a home has been effectively handed over to you, it’s important to determine the status of the mortgage with the lender and if anything is still owed. While you have the option of taking over the mortgage in a lot of cases, in the event that there’s a reversible mortgage or you’re choosing to rent it out as a second property, you may not be able to transfer the mortgage. While this can often be a rather seamless process, if money is owed there can be other factors to consider.

Determine If You Want It

If you already have a first home and don’t want to take care of your second property as a rental unit, it’s important to realize that keeping the home may not be the best decision for you. While you have the option of organizing a short sale if you’d like to get it off of your hands, you can also contact a real estate agent who will be able to provide you with advice on how to proceed if you’re unwilling (or unable) to take control of the property.

Is It In Good Condition?

Whether you want to keep the home or not, there can be cases where it’s not even a question if it’s a home that you’re going to end up investing money into without much return. In the situation that a lot of money is owed on the house or there are serious issues with its general condition, you may want to release yourself from the inheritance and move on with your financial situation still intact.

There can be an instant feeling of acquired wealth in the event that you’ve inherited a home, but a home in bad condition or that you don’t want to take care of can end up being more of a headache than anything else. If you’re currently considering your options when it comes to a home inheritance, please contact me for more information – J.P. Cook – 602-320-4253.

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35425 N 37th Street Cave Creek, AZ 85331

$3,150,000

4 Beds

5 Baths

5,724 SqFt

Status Active

MLS # 6761079

Property Type Single Family Residence

Price Type --

This exquisite custom-built luxury home in Cave Creek, nestled on a 4.55-acre lot backing onto serene BLM land. This 4-bedroom, 5-bathroom masterpiece, built in 2014, boasts meticulous attention to detail and upgrades throughout. Custom iron doors, rich wood and travertine flooring, and Cantera stone accents. The gourmet kitchen features a Wolf appliance package, granite countertops, a built-in sub-zero fridge/freezer, & an expansive island. The bar/theatre room is a true entertainer's dream with a keg, ice machine, beverage fridge, & double bifold doors opening to the patio. Rooftop deck w/hot tub, outdoor grill, fireplace, and RV pad with dump station. Oversized 4-car air-conditioned garage, 4 Trane AC units, water softener, and foam under roof insulation. The lot is thoughtfully landscaped with an irrigated garden, a chicken coop, and fully established citrus trees. Ready for a pool with plumbing and electrical in place. Despite its secluded setting on 4.55 acres, offering unparalleled privacy and natural beauty, this luxury home is less than a mile from Carefree Highway and just minutes from Cave Creek's vibrant shopping and dining options.

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3711 N Hawes Road Mesa, AZ 85207

$3,145,000

5 Beds

5.5 Baths

7,371 SqFt

Status Active Under Contract

MLS # 6745053

Property Type Single Family Residence

Price Type --

Nestled in the prestigious Las Sendas Mountain Estates community, this stunning estate epitomizes luxury and tranquility. Offering seamless access to the Las Sendas Clubhouse & Golf Club and set against the dramatic backdrop of Tonto National Forest, this property is a showcase of exceptional design and refinement. Upon arrival, the grand entry gate and desert-accented motor court lead to a Cantera Stone courtyard, where a custom tile fireplace and elegant fountain set a sophisticated tone. The expansive covered patio and backyard invite you to revel in breathtaking west-facing views of the Arizona skyline and majestic mountain ranges beyond. Step inside to discover a blend of opulence and functionality: soaring 20-foot ceilings, honed stone flooring with herringbone accents, and a gourmet kitchen outfitted with a Wolf & Subzero appliances, multiple ovens, and two Miele dishwashers. The primary suite is a serene retreat with a hydro system jetted tub, complemented by an exercise room with a steam sauna. Unlock true entertaining for few or many with this estate's cinema screening room, dedicated wine room, and guest casita suite. This residence masterfully integrates indoor and outdoor living with retractable glass walls and a negative-edge pool and spa that enhance the outdoor experience. Car enthusiasts will appreciate the 4-bay garage, while the meticulously landscaped grounds provide a serene setting. Architectural details include domed and barrel ceilings, brick accents, and Venetian plaster interiors, all highlighted by Cantera stone pillars and metal bonnets. Spanning over 7,300 square feet, the estate is equipped with an advanced Control 4 home system, automatic Hunter Douglas blinds, and an intercom system for effortless living. The guest wing features en-suite bedrooms, walk-in closets, and a versatile common flex space. An optional Golf Club or Social Membership at Las Sendas adds to the allure. Experience unparalleled East Valley living with panoramic sunrises over Tonto Preserve and dazzling city sunsets.

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6311 E Phoenician Boulevard Unit 21 Scottsdale, AZ 85251

$3,135,000

2 Beds

2.5 Baths

2,245 SqFt

Status Active

MLS # 6766726

Property Type Townhouse

Price Type --

This BRAND NEW, never occupied, single level townhome sits at the base of the iconic Camelback Mountain. Professionally decorated with a TURN- KEY furniture package, this home is move in ready! Ascent at the Phoenician Golf Villas is a private 24/7 guard gated community situated next to the Phoenician Resort. This meticulously custom designed and upgraded 2-bed, 2.5 bath villa is truly a one of a kind. The living room boosts a Basalt stone wrapped fireplace with beautiful lighted shelves and a 288-bottle temperature-controlled wine wall. The kitchen features a Bulthaup kitchen with quartz counters and Sub Zero Wolf appliances. Provenza wood floors and Rift oak doors throughout. Upgraded polished nickel kitchen and bath fixtures. Enjoy seamless indoor-outdoor living with custom sliding glass doors leading to a large, tiled patio with BBQ and grass yard with desert landscape. Take in the magnificent golf course views in every direction! The spacious upper-level covered terrace provides panoramic views of Camelback and Papago Mountains, along with the 1st and 9th holes on the Phoenician golf course. This Villa features 10-foot ceilings and with its modern elegance and breathtaking surroundings make it one most sought after luxury destinations in Arizona! Shared Clubhouse is now open. Offering Swimming pool, Full Gym, Kitchen, Pool Tables, and more.

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Paradise Valley AZ 85253

$3,100,000

8 Beds

8 Baths

4,251 SqFt

Status Active

MLS # 6783381

Property Type Single Family Residence

Price Type --

Investor Alert! Great Revenue property or future development. Triple nnn lease until Dec 31, 2028 to a licensed 10 bed assisted living facility. Very high monthly revenue with all maintenance and expenses paid by tenant. Pictures do not include recent upgrades and additions. Picturesque setting on a quiet street in desirable PV with mature, beautiful landscaping and circular driveway invite you onto this 1 acre property. Home boasts multiple large venues and soaring vaulted ceilings. This property is not to be missed! No HOA. Business may also be purchased and full financial details are available. Owner/Agent

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4849 N Camelback Ridge Road Scottsdale, AZ 85251

$3,100,000

2 Beds

3 Baths

2,609 SqFt

Status Active

MLS # 6675753

Property Type Apartment

Price Type --

Tucked at the base of revered Camelback Mountain, Ascent is a new, private residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. This community incorporates the Sonoran Desert landscape directly into its design, at the most enviable location in Scottsdale. Ascent offer views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, Provenza wood floors, Sub Zero Wolf appliances & 10' ceilings.

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12943 E Corrine Drive Scottsdale, AZ 85259

$3,100,000

5 Beds

5.5 Baths

6,912 SqFt

Status Active

MLS # 6765337

Property Type Single Family Residence

Price Type --

Discover the perfect blend of seclusion, luxury, and breathtaking mountain vistas in this spectacular custom-built home, nestled within the prestigious gated community of The Canyons at Scottsdale Mountain. This contemporary masterpiece radiates elegance and sophistication, securely positioned behind two gates, including a manned entry for ultimate peace of mind. Enjoy an enviable location just moments from top-ranked Basis and Desert Mountain Schools, the renowned Mayo Clinic, and only 15 minutes from the vibrant shopping and dining scene at Kierland. The city light views from this exceptional home create an enchanting backdrop, epitomizing convenience without sacrificing luxury. The expansive layout is designed for both relaxation and entertainment, featuring two sumptuous primary suites, a state-of-the-art theater room, and a versatile bonus/exercise room. Outdoor living is enhanced by a stunning negative edge diving pool, a luxurious spa and firepit, providing the perfect setting to soak in the tranquil surroundings. Recent upgrades, such as sleek epoxy flooring in the garage and elegant engineered wood flooring on the upper level, further elevate this residence. With a laundry room conveniently located both upstairs and downstairs, functionality and ease are paramount in this exceptional home. Experience the unparalleled lifestyle that awaits in this extraordinary property.

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7002 N Hillside Drive Paradise Valley, AZ 85253

$3,100,000

5 Beds

4.5 Baths

4,857 SqFt

Status Active

MLS # 6765766

Property Type Single Family Residence

Price Type --

Nestled in Paradise Valley's most desired neighborhood, this elevated lot offers exceptional views of both Mummy & Camelback Mountain. The home boasts a primary retreat, two ensuite bedrooms & two split guest bedrooms, as well as a large bonus/media room, office and a 2,000 bottle wine room. The open kitchen has beamed ceilings with access to an outdoor dining space. This is your opportunity to own a mountainside home with amazing views !

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8787 E Whispering Wind Drive Scottsdale, AZ 85255

$3,100,000

4 Beds

3.5 Baths

4,327 SqFt

Status Active

MLS # 6778059

Property Type Single Family Residence

Price Type --

As is. This custom home is a desert sanctuary with all the conveniences of the city. Extensively renovated in 2020, the home's 21-foot windows show breathtaking landscapes in all directions. The great room flaunts the unique architecture, where the steel-accented fireplace is backed by walls of glass overlooking the Sonoran-style yard. An oversized pool, cabana, outdoor kitchen, and gas fireplace all beg to be enjoyed with a glass of wine and good friends. The interior maintains a light, minimal aesthetic throughout. Escape life's realities in the game room with a custom cloud ceiling, or relax in the entertainment room with a built-in bar. This is an entertainer's dream home that blends modern design with natural elements to match the stunning beauty of North Scottsdale.

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6302 E Cochise Road Paradise Valley, AZ 85253

New

$3,100,000

6 Beds

5 Baths

3,843 SqFt

Status Active

MLS # 6796907

Property Type Single Family Residence

Price Type --

Major Renovations Completed OCT-DEC 2024!! Step into a realm of elegance, in the prestigious Paradise Valley-Scottsdale area. Designed for multi-generational living or grand entertaining, this property features a 4-bedroom, 3-bath main residence and a 2-bedroom, 2-bath guest home—all on nearly an acre of desert-inspired, meticulously designed landscaping. A chef-inspired culinary Kitchen has been equipped with Double Wolf Ovens, Cove Dishwasher, Sub-Zero Fridge/Freezer, Two Islands, Wet Bar, plenty of cabinets space with high end Dove-Tail Cherry Cabinets, and an induction retractable stove top. Brown European Oak floors throughout all of the bedrooms, Italian Stone, New Andersen windows installed in 2023, and wonderful daylight throughout, exuding warmth and refinement. Outdoors you have a private retreat awaiting with a peaceful large flat lot, a heated diving pool, cabana, and elegant decking surrounded by turf and minimalist desert landscaping. Exceptional Award Winning School District: Cherokee Elementary, Cocopah Middle School, and Chaparral High School.. These are the perks of the 85253 zip code, South of Shea Blvd. and conveniently in Phoenix Zoning (much better wait times for construction approvals VS. others).

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15972 N 115th Way Scottsdale, AZ 85255

$3,100,000

3 Beds

2.5 Baths

4,596 SqFt

Status Active

MLS # 6769991

Property Type Single Family Residence

Price Type --

Hidden gem surrounded by Magnificent Views, and lush trees.. Enjoy the unobstructed view of McDowell Mtn & the sunset/city lights in the Oasis resort-like backyard designed with 65' infinity style pool, large water fall, spa and sunken gazebo. The main house features an open split floor plan with high ceilings. Spacious living room flows into family room complete with wine bar. Kitchen boasts granite countertops with plenty of storage. Plus a theater room & butler's pantry & office area. The newly renovated 1,208 SQFT. separate guest suite features 1 bedroom 1 bath, kitchenette and more! The quiet and stunning neighborhood has many amenities & easy access to the McDowell Mountain trails for hiking just minutes away. Property to be sold As-Is no repairs. Interior photos coming soon!

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6802 E Paradise Parkway Scottsdale, AZ 85251

$3,099,999

3 Beds

2.5 Baths

3,420 SqFt

Status Active

MLS # 6772740

Property Type Single Family Residence

Price Type --

Walking distance to Fashion Square Old Town. This 3 bed, 2.5 bath luxury estate offers breathtaking views of Camelback Mountain. With elegant, high-end finishes throughout, the home boasts premium features like a GE Monogram 6-burner cooktop with griddle, a Miele refrigerator, and luxurious leather-finished countertops. Beautiful porcelain tile is featured throughout the interior for a sophisticated touch. Energy-efficient upgrades have been thoughtfully selected to keep utility costs low. The backyard is truly an entertainer's dream, perfect for hosting gatherings or simply relaxing in style.

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8366 E Old Paint Trail Scottsdale, AZ 85266

$3,099,995

4 Beds

4.5 Baths

3,236 SqFt

Status Active

MLS # 6537091

Property Type Single Family Residence

Price Type --

Days on market include build time****MOVE IN READY HOME New Construction Home in the gated community of Reserve at Black Mountain. Gourmet kitchen includes maple cabinets and designer appliances including a Wolf 48'' Rangetop with Griddle, Pro Hood, Micro Drawer, Pro Double Ovens and Cove Dishwasher and overlooks the expansive main living area with soaring 17' ceilings and a 24' Multi-Stacking Door with pocket, opens on to a large covered patio. This home is an entertainers delight. Secluded office or 4th bedroom at the rear of the home with access to the backyard. Full landscape and pool are included in this price.

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