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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342 W Beechnut Place Sun Lakes, AZ 85248

Open House

$529,000

2 Beds

2 Baths

1,904 SqFt

Status Active

MLS # 6773289

Property Type Single Family Residence

Price Type --

REMODELED PALMERA model w/ SPLIT BEDROOMS & Den + Climate Controlled Enclosed Patio on PRIVATE Corner Lot in the GATED, ADULT community of Ironwood. ALL NEW: Luxury Plank Flooring, Baseboards, Lighting/Fans, Fixtures & Interior/Exterior Paint. 2017 AC, VAULTED CEILINGS & Water Softener. GREAT ROOM is open to the EAT-IN KITCHEN w/ Pantry, Island, Stainless Appliances, INDUCTION COOKTOP & 42''Maple Cabinets. Spacious Primary Bedroom w/Bay Window has a LARGE BATHROOM w/ Quartz, Double Vanity, tiled WALK-IN Shower + HUGE WALK-IN CLOSET. Tons of STORAGE in the Laundry Room & EXTENDED 2 CAR Epoxied Garage. Low maintenance NORTH-FACING backyard w/ fruit trees. Come enjoy Sun Lakes w/ its amenities of golf, tennis, pickleball, pools, fitness center, clubs, social activities & restaurant.

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21173 E Canary Way Queen Creek, AZ 85142

$528,990

4 Beds

2 Baths

2,188 SqFt

Status Active

MLS # 6793791

Property Type Single Family Residence

Price Type --

This thoughtfully designed single-story home features an airy open floor plan with 9-ft. ceilings and a generous great room that opens to an oversized covered patio. The modern kitchen is designed for both ease and efficiency, offering a large center island, a walk-in pantry and 42-in. upper cabinets with plenty of storage space. The primary suite, located at the back of the home for added privacy, includes an oversized closet, and the en-suite bath boasts a walk-in shower, an enclosed water closet and a dual-sink vanity with WaterSense®-labeled faucets. Additional features include pre-wiring for ceiling fans in the great room and bedrooms, a practical service door in the garage, and lush front yard landscaping to enhance curb appeal.

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1650 E Ponderosa Parkway Unit 326 Flagstaff, AZ 86001

$528,015

2 Beds

2 Baths

1,220 SqFt

Status Active

MLS # 6638734

Property Type Apartment

Price Type --

POPULAR 2-Bedroom 1220 sq. ft. Condo! Ponderosa Parkway is located close to downtown Flagstaff & NAU. The Urban Trail system will take you all over Flagstaff on foot or bike in minutes! FIRST RESPONDERS & MILITARY receive additional incentives! Call for your private tour today! Visit our sales office/Model home in Bldg. 3, Unit 111.

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3125 S Chatsworth Circle Mesa, AZ 85212

$528,000

4 Beds

2 Baths

1,767 SqFt

Status Active

MLS # 6789098

Property Type Single Family Residence

Price Type --

Don't miss seeing this Beautiful Fully Furnished 4 Bdrm Shea Home in Mint Condition!! Only used a Few Months a Yr! Great Location on Cul-de-sac Lot! This home has been updated with new interior paint, newer upgraded Tile & Wood like Plank Flooring. Kitchen has Refurbished Cabinets, upgraded granite counter tops & Stainless Steel Appliances. Great Layout. Lots of natural light with Plantation Shutters throughout. Enjoy the Large Covered Patio leading to a Beautiful Heated Salt Water Pool with in-floor cleaning system. Patio has a Polyaspartic finish. HVAC system only 4 yrs old. Hot water tank with circulation system only 5 yrs old. New Irrigation System. Conveniently located in the desirable Santa Rita Ranch community with easy access to parks, schools, shopping, dining & entertainment!

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518 W Amoroso Drive Gilbert, AZ 85233

$528,000

3 Beds

2 Baths

1,838 SqFt

Status Active

MLS # 6784234

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION!!! A move-in ready, 3 bedrooms and 2 full bathrooms home in a lake sub-division for sale in the center of Magic town of Gilbert! This home provides everything that you're looking for: open layout with a good size living room looks into the backyard oasis; vaulted ceilings and laminate floorings throughout the house gives you cozy/country feels. Built-in bookshelves and computer niche in the family room right next to the kitchen. Comfortable size owner suite with huge windows to have backyard view, double sinks in the primary bathroom. Did I mention no carpets in the entire house? Newer HVAC/heater and water heater 2020, NEW roof 2022! The turquoise-colored pool, turf, the shed, the built-in BBQ, cover patio are just a few to mention that makes this backyard a perfect one to entertain!Minutes away from downtown Gilbert, plenty choices to connect to freeway 60, 101 or 202, convenient location to great schools, shopping, and restaurants! Come see this gem today!

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17582 W Blue Sky Drive Surprise, AZ 85387

New

$527,995

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6795548

Property Type Single Family Residence

Price Type --

This stunning Bronze Floorplan features a spacious 45' RV garage—perfect for storing your RV, toys, or extra vehicles. Set on a premium corner lot with a beautiful stone exterior and paver driveway, this home offers both style and practicality. Inside, enjoy wood plank tile, sleek quartz countertops, gas appliances, and an open, modern layout with 3 bedrooms and 2 bathrooms. The spacious design and versatile garage make this home a must-see for adventurers and homeowners alike.

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12334 W Marguerite Avenue Avondale, AZ 85323

New

$527,995

3 Beds

2.5 Baths

2,380 SqFt

Status Active

MLS # 6795911

Property Type Single Family Residence

Price Type --

The Elderberry on lot 57 is expected to be ready February 2025. This home is 2,380sf 3-bedroom + Study + Loft, 2.5-bathroom, 3-car garage and sits on 7,875sf lot facing North. This Elderberry plan boasts ample space for entertaining. On the main floor, you'll find 9' ceilings, 8' doors, square corner walls, center-meet sliding doors at the dining room leading to the covered patio, open dining area, an expansive great room, a convenient laundry and a well-appointed kitchen with a quartz countertop center island, 42'' white upper cabinets, GE stainless steel appliances including side by side refrigerator, 30'' gas range, microwave, dishwasher and walk-in pantry. An impressive primary suite, located just off the great room, showcases an immense walk-in closet and a private bath as well as additional bedroom and full bathroom downstairs. Upstairs, discover an airy loft, a storage area and two secondary bedrooms with walk-in closets. This home has additional features such as ceiling fan prewiring in bedrooms, 7x22 tile flooring throughout the home with carpet in the bedrooms and stairs, front yard landscaped, pavers in the driveway, walkway and entryway, 8' garage doors, service door in the garage, tankless water heater, pre-plumbed for soft water loop and gas stub at back yard.

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5008 W Roundhouse Road Laveen, AZ 85339

$527,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6778890

Property Type Single Family Residence

Price Type --

Perfect location in Laveen! Popular Slate plan has gorgeous interior upgrades to enjoy! Open kitchen with spacious quartz countertops and enjoyed by great room complimented by an oversized center meet door to bring out door living indoors! The perfectly sized backyard with a covered patio is great for relaxation and gatherings.

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17828 W Encinas Lane Goodyear, AZ 85338

$527,990

4 Beds

3.5 Baths

2,873 SqFt

Status Active

MLS # 6776107

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, &/or price adjustments. The Prato floor plan offers 4 bedrooms, 3.5 baths, a spacious den, a loft, a soft water loop, an elegant glass super shower with a rain shower head, and an 8' garage door. Notable design features include quartz kitchen countertops, a gas stub for the kitchen and backyard, a Ring doorbell, ceiling fan prewires, and a comprehensive lighting package throughout the home.

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8251 E Prairie Avenue Mesa, AZ 85212

$527,990

4 Beds

3.5 Baths

2,039 SqFt

Status Active

MLS # 6786473

Property Type Single Family Residence

Price Type --

A collection of brand-new single-family homes located in the master-planned community in Mesa, AZ. The community feeds into the highly rated Gilbert Public School District, making this an ideal place for growing households. There are many onsite amenities at the masterplan everyone will enjoy, including a swimming pool, basketball court, pickleball court, playground and picnic area. Commuters have easy access to Loop 202 and Phoenix-Mesa Gateway Airport for travel accommodations. This beautiful home features our platinum package including Sonoma Maple Slate cabinets and quartz countertops. Super luxury 7 x 22 plank tile flooring. A public report is available on the Arizona Department of Real Estate website.

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1540 E Cheery Lynn Road Phoenix, AZ 85014

$527,900

3 Beds

1 Bath

1,145 SqFt

Status Active

MLS # 6794762

Property Type Single Family Residence

Price Type --

Located in the renown & desireable Cheery Lynn Historic District just east of the Phoenix Country Club. Tall mature picturesque palm trees align the street. Large 8,099 sq. ft. lot. Move in ready, recently updated 1947 custom red brick home, origninal plaster, round window in the dining room, new lighting, ceiling fans, hardware, updated electircal panel, new paint, gas stove and refrigeratior. Recent 2019+--HVAC & roof. E-Z to maintain desert landscape front yard. Large covered brick patio, storage, room to grow and create your own oasis in the heart of the city. Recently surveyed. Corners marked. Seller will provide a $10,000 fence allowance for and acceptable full price offer.

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9421 E Cedar Waxwing Drive Sun Lakes, AZ 85248

$527,900

2 Beds

2 Baths

2,202 SqFt

Status Active

MLS # 6715698

Property Type Single Family Residence

Price Type --

Welcome to this beautifully renovated home exuding modern charm and elegance. Step inside to discover fresh interior paint enhancing the inviting ambiance, while new carpet and flooring add a touch of luxury underfoot. The kitchen dazzles with stainless steel appliances and stunning quartz countertops, complemented by freshly painted cabinets for a sleek finish. With two bedrooms and two baths, including an open floorplan and vaulted ceilings, this residence offers spaciousness and comfort perfect for relaxation or entertaining guests. Don't miss the opportunity to make this meticulously updated home yours!

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