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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2227 E Morrow Drive Phoenix, AZ 85024

$525,000

3 Beds

2 Baths

1,638 SqFt

Status Active Under Contract

MLS # 6789250

Property Type Single Family Residence

Price Type --

Check out this ultra clean & updated single level home nestled among the hills of North Phoenix! NO HOA! This 3-bed, 2-bath, home has been thoughtfully maintained by current owners since 2001. Recent updates include: FRESHLY painted interior & exterior (2024). Remodeled kitchen & baths w/granite countertops, new cabinets (2020). New water heater (2023). New patio roof (2024). Custom wood shutters, and a low maint. backyard w/turf, pavers, plants and lighting. New garage door, tracks, and opener. Custom iron entry door and side gate. Located among the picturesque hills, it's a scenic drive into the neighborhood. Just a few minutes drive to 51 & 101 Freeways, and short distance to shopping/dining at Desert Ridge & Kierland in North Scottsdale. Paradise Valley School Dist. Plan a tour today!

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20619 W Grandview Drive Buckeye, AZ 85396

$525,000

3 Beds

2 Baths

1,971 SqFt

Status Active Under Contract

MLS # 6793714

Property Type Single Family Residence

Price Type --

Welcome to 20619 W Grandview Dr, nestled in the heart of Verrado! This inviting home blends comfort and charm with , a bright open layout, cozy kitchen, and a backyard for you to design a personal retreat. Across the street from a wonderful park, creating a serene space to relax or entertain both adults and kids. Located in one of Arizona's most sought-after communities, it offers a lifestyle like no other. 70+ neighborhood parks, tree-lined streets, miles of hiking and biking trails, and a bustling Main Street w coffee shops, restaurants, and local events. With top-rated schools & a strong sense of community, Verrado is more than a place to live, it's a place to thrive. Plan your visit today and discover all this special neighborhood has to offer! Home has seldom been occupied since 2001

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10080 E Mountainview Lake Drive Unit 242 Scottsdale, AZ 85258

$525,000

1 Bed

1 Bath

1,095 SqFt

Status Active

MLS # 6585092

Property Type Apartment

Price Type --

STUNNING LAKE VIEWS, A MUST SEE. GATED COMMUNITY OF SCOTTSDALE BAY CLUB. GREAT ROOM WITH FIREPLACE, BALCONY WITH AWESOME VIEWSCOMPLETELY REMODEL UNIT , LARGE MASTER BEDROOM HAS ROMAN TUB, SEPARATE BATH AND SHOWER. BUILT INS IN WALK IN CLOSET. GREAT SHOPPING AND RESTAURANTS. COMPLEX HAS TWO HEATED POOLS, SPAS, EXERCISE ROOM, CLUBHOUSE/REC. ROOM PLUS OTHER AMENTIES

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122 N Sunaire -- Mesa, AZ 85205

$525,000

3 Beds

2 Baths

2,061 SqFt

Status Active

MLS # 6745712

Property Type Single Family Residence

Price Type --

Discover this 3 bedroom/2.5 bath fully remodeled home located in the heart of the city. Step inside to find new tile flooring, new modern lighting, and fresh neutral color paint throughout. New white shaker kitchen is equipped with new stainless steel appliances, new quartz countertops, and new fixtures. New washer and dryer installed, bathrooms fully upgraded, new ceiling fans, and many other upgrades. Large backyard lot plus storage room/guest house. Sellers looking to sell and close quickly!

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3131 N Central Avenue Unit 4014 Phoenix, AZ 85012

$525,000

2 Beds

2 Baths

1,125 SqFt

Status Active

MLS # 6618799

Property Type Apartment

Price Type --

*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Enjoy the views over the pool and common areas from the spacious balcony. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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5445 N Scottsdale Road Eloy, AZ 85131

$525,000

3 Beds

3.5 Baths

2,455 SqFt

Status Active

MLS # 6679930

Property Type Single Family Residence

Price Type --

Big price cut on this nicely furnished home with Casita. Only one owner and well cared for. Large corner lot and with patio East exposure. Large open great room with kitchen cabinets galore. Like new appliances. Granite countertops and expansive laundry room with so much storage! Home is all tile with nice upgrades. Close to Robson amenities with a restaurant, sports gym, aerobics center, pools, dog park, pickleball courts and more! Owners are offering a $2000 paint allowance too!

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1802 W Isleta Avenue Mesa, AZ 85202

$525,000

3 Beds

2 Baths

1,895 SqFt

Status Active

MLS # 6681642

Property Type Single Family Residence

Price Type --

BONUS ROOM! 3 bedroom split bedroom plan with a BONUS ROOM that could be used as a 4th bedroom, office, library, you decide! Roof has 4 years remaining on the warranty, hot water tank replaced in 2023, Pool refinished with all new equipment in 2020. Close to schools, shopping and freeway access. Super East Valley location.

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15213 N Cameo Drive Sun City, AZ 85351

$525,000

3 Beds

3 Baths

2,800 SqFt

Status Active

MLS # 6682424

Property Type Single Family Residence

Price Type --

SHORT SALE OPPORTUNITY- Welcome to your dream home nestled in the desirable community of Sun City! This stunning property at 15213 N Cameo Dr offers the perfect blend of elegance and relaxation with its prime location overlooking the golf course and serene lake views. Boasting 3 bedrooms and 3 bathrooms, this premium lot home features a spacious layout designed for comfortable living. Step inside to discover a light-filled living space with picturesque views of the lush greenery and tranquil waters. The kitchen is a chef's delight, equipped with modern appliances and ample counter space. Retreat to the master suite, complete with a private en-suite bath and scenic vistas. Enjoy Arizona's outdoor living at its finest in the expansive backyard oasis, where you can soak in the breathtaking sunsets from your Arizona Room/ patio. With its proximity to shopping, dining, and recreation, this home offers the ultimate lifestyle experience. Don't miss your chance to own this piece of paradise - schedule your showing today!'

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20139 N Rawhide Way Surprise, AZ 85387

$525,000

2 Beds

2 Baths

2,075 SqFt

Status Active

MLS # 6683829

Property Type Single Family Residence

Price Type --

Beautifully maintained spacious Sierra Model! Large great room with updated media wall (built-in sound system), formal dining area, and spacious kitchen with Corian counter tops, breakfast bar, island, lots of storage, and expanded dining nook. Den is large with office / studio space and storage. Very large master suite with bay window, door leading to patio, and walk-in closet with wonderful storage system. Flooring is large tile, except carpets in bedrooms and den. Neutral paint, plantation shutters. 4' extended garage with one wall of storage closets. Newer appliances -fridge '23, hot water tank '24, newer HVAC system 14 Seer '19, exterior painting '23). SCG is 45 or older age restricted. Furniture is available with sale.

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16409 S 46th Street Phoenix, AZ 85048

$525,000

3 Beds

2 Baths

1,695 SqFt

Status Active

MLS # 6767267

Property Type Single Family Residence

Price Type --

Explore your dream Ahwatukee home! This stunning NO HOA property sits on a spacious 1/4 acre lot and features a beautifully designed 3 bedroom layout with a versatile den/office, perfect for today's work-from-home lifestyle. The heart of the home boasts a great room with a cozy fireplace. The chef's kitchen is equipped with sleek granite countertops. Step outside to your private oasis with a sparkling pool, spa, and patio with speakers, perfect for entertaining. Conveniently located near top-rated schools and shopping, this home is ideal for embracing the lifestyle you've been dreaming of in Phoenix.

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1654 E Palo Blanco Way Gilbert, AZ 85296

$525,000

4 Beds

2 Baths

1,805 SqFt

Status Active

MLS # 6702829

Property Type Single Family Residence

Price Type --

NEW AC AND DEEP CLEAN FOR PROVIDED FOR BUYER AFTER CLOSE! This four-bedroom home, situated on a corner lot, offers a perfect blend of convenience and luxury. Enjoy the ultimate relaxation and entertainment with a sparkling professionally maintained heated pool and hot tub, providing year-round enjoyment. Embrace peace of mind with transferable lifetime warranty on windows installed in 2022, ensuring both comfort and durability. Revel in the convenience of separate his and hers closets, offering ample storage space and organization. The flooring was tastefully redone in 2021, enhancing both aesthetic appeal and functionality. Dive into the latest upgrades, including a variable speed pool pump installed this year in 2024, All appliances purchased in 2021.

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9921 E Tiburon Avenue Mesa, AZ 85212

$525,000

4 Beds

3 Baths

2,248 SqFt

Status Active

MLS # 6708016

Property Type Single Family Residence

Price Type --

Brand New! Built in 2021 & gently used, this Mesa home offers wood-look tile flooring, a neutral pallet, upgraded carpet in bedrooms & loft, & soaring ceilings. The open kitchen boasts white shaker cabinetry, quartz countertops, stainless steel appliances & an island. 1 full bedroom & bathroom are located downstairs. Upstairs you will find a convenient laundry room & a large loft ideal for a game room, sitting area, or office. Primary retreat with an impressive ensuite with dual sinks & a walk-in shower. Private backyard with a covered patio, turf, & travertine deck. Also featured, a 2-car garage & a water softener. You'll love the quiet community of Cadence at Gateway with amenities like a community pool, clubhouse, sports courts, & a workout facility!

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