3 Things You Must Do after Inheriting a Home

3 Things You Must Do after Inheriting a HomeThere 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.

What’s Your Home Worth?

Search for Your New Home

40740 N Longhorn Drive Scottsdale, AZ 85262

$2,395,000
4 Beds
3.5 Baths
4,523 SqFt
Status Active
MLS # 6753439
Property Type Single Family Residence
Price Type --
Like two homes in one! Sensational city light and mountain views expanding over 50 miles showcase this lovely home situated on 10+ private acres within the exclusive enclave of Carefree Ranch Homesteads adjacent to Desert Mountain. Owned Solar w/Tesla Charging Station for ultra low electric bills. You'll experience the ultimate privacy among neighbors with $5M+ homes on large 5+ acre sites. Though on 2 levels, the main level has no steps with Living Room, dining room, kitchen, primary bedroom, powder room and 4 car garage. The lower level includes a 2nd master suite, large game room or guest living room with wet bar and two additional bedrooms and bath. This arrangement is perfect for shared ownership. The pool & heated spa and built in BBQ enhance the... outdoor experience soaking in the forever views. Many of Scottsdale's finest golf courses and 10 minutes from grocery, shopping and dining.

10040 E Happy Valley Road Unit 286 Scottsdale, AZ 85255

$2,395,000
4 Beds
5.5 Baths
4,745 SqFt
Status Active Under Contract
MLS # 6753773
Property Type Single Family Residence
Price Type --
IMMEDIATE GOLF MEMBERSHIP AT CLOSE OF ESCROW! Architecturally designed by the late, John Rattenbury of Taliesin Architects, this remarkable home is a work of art in the ''Wright Style.'' A classic example of ''organic architecture,'' the home nestles into the site becoming a natural part of the land. The design of the living area is based on space flow rather than an arrangement of rooms. Located in the private golf and recreation community of Desert Highlands with world class community amenities including the Jack Nicklaus Signature 18 hole golf course, an award winning tennis facility, an owners club house with fine and casual restaurants and a state of the art fitness center.

3941 Griffiths Spring -- Flagstaff, AZ 86005

$2,395,000
4 Beds
5 Baths
3,431 SqFt
Status Active Under Contract
MLS # 6760121
Property Type Single Family Residence
Price Type --
Fully updated, SINGLE LEVEL home with tons of room, natural light and privacy. The open floor plan provides exceptional flow to the kitchen as well as the large back deck. A multi-sided fireplace tops off the ambience of this amazing space. The chef's kitchen is equipped with stainless steel appliances, center island an breakfast bar. The floor plan is well designed with the primary suite tucked away on one side and the other 3 bedrooms on the other. All bedrooms have en-suite bathrooms. In addition, there is a large bonus/game room (could be BR #5) with another full bath. The back deck has both covered and uncovered areas complete with a built-in BBQ and large fenced in area for the kids and separate dog run. Complete with a new roof and central A/C, this home is the complete package.

3014 N 61st Place Scottsdale, AZ 85251

$2,395,000
5 Beds
5 Baths
4,223 SqFt
Status Active
MLS # 6776240
Property Type Single Family Residence
Price Type --
Unique Barn-Style Beauty in Old Town Scottsdale - A Must-See! Step into a home like no other! This 5-bedroom, 4.75-bathroom, 4,223 sq. ft. barn-style retreat offers the perfect blend of rustic charm and modern luxury, making it a standout in Old Town Scottsdale's vibrant real estate market. Sitting on a generous 11,692sq. ft. lot, this property combines space, style, and comfort, offering a one-of-a-kind living experience. The distinctive barn-inspired architecture gives the home a warm, inviting feel, with vaulted ceilings and spacious, open-concept living areas that create an airy, relaxed atmosphere, perfect for entertaining! Each bedroom is thoughtfully designed with ample space and privacy. Expansive backyard featuring pool, large covered patio, putting green, and more! Located just minutes from Old Town Scottsdale's popular shopping, dining, and entertainment, this home provides a rare combination of rustic charm and urban convenience. Available turn key fully furnished.

3051 E Irwin Avenue Mesa, AZ 85204

$2,394,999
6 Beds
6 Baths
5,855 SqFt
Status Active
MLS # 6774162
Property Type Single Family Residence
Price Type --
Elevate your buying experience with this exceptional offer. The seller is providing assistance toward a 2-1 interest rate buydown, allowing you to enjoy significantly reduced interest rates—2% lower in the first year and 1% lower in the second year. This unique opportunity enhances affordability while you settle into the elegance and sophistication of your new home. Welcome to this exceptional property, set on a massive lot and offering 5,855 SF of luxurious living space. From the moment you step inside, you'll be captivated by the grand layout featuring elegant wood floors, a cozy den, and a spacious loft. With 6 bedrooms, 4 full baths, and 3 half baths, this home is perfectly designed to The downstairs owner's suite is your private sanctuary, offering a sitting area or workout room, direct access to the backyard, and a spa-inspired bathroom with dual vanities, a jetted garden tub, a step-in shower with multiple shower heads, and two large walk-in closets. The main level also includes a casita, located opposite the master, complete with a kitchenette and full bath. The outdoor space is equally impressive, boasting a resort-style backyard. Relax under the extended covered patio with the new misting system or cool off in the pristine pool, complete with a slide, waterfall, and fountain. The yard is beautifully landscaped with mature fruit trees, including orange, grapefruit, nectarine, and lemon. A new shade structure offers a perfect spot to enjoy outdoor activities in comfort, and the brand-new, oversized gazebo with an outdoor kitchen is ideal for entertaining or relaxing in style. At the back of the property, you'll find a 380 SF stand-alone building, perfect for an art studio or a teen hangout room. In addition, the property features solar panels and a generator, offering energy efficiency and peace of mind. There's no HOA, giving you more flexibility and freedom. And, while the home is conveniently located just off the highway, it remains peaceful and quiet, providing easy access without the noise. For added convenience, there's a detached 1,200 SF garage and office with air conditioning, and above it, a fully equipped apartment that includes a full kitchen, spacious bedroom, and bathroom perfect for guests or potential rental income. Plus, a newly added 687 SF RV garage provides ample space for larger vehicles and extra storage. This home truly has it all! Tour this home today to see it for yourself and experience the luxury and space this property offers!

27825 N 42nd Street Cave Creek, AZ 85331

$2,390,000
4 Beds
4 Baths
3,572 SqFt
Status Active
MLS # 6739142
Property Type Single Family Residence
Price Type --
Rare opportunity to own almost 5 acres of county property including Very Solid Block Built home with metal roof. Timeless architecture and floor plan will need little updating to make it spectacular. Huge business potential with this property! One acre zoning. This is a great area to have space for your horses and a home business in Maricopa County zoning. Backyard is huge with inground pool and separate hot tub close to the master bedroom. Outdoor shower room adds useful fun to the master.

18527 N 98th Way Scottsdale, AZ 85255

$2,390,000
4 Beds
4.5 Baths
3,871 SqFt
Status Active
MLS # 6786313
Property Type Single Family Residence
Price Type --
WINDGATE RANCH at its finest! House located on a quiet interior street with views of the McDowells from the backyard and views of the city lights & Camelback from the front. As you approach, you pass your own private court yard. When entering into the grand foyer, you are greeted with an intuitive, open floor plan with a view of the McDowell Mountains. The formal dining room opens to the foyer & a butlers pantry that accesses the kitchen with large island & pantry. The kitchen & great room (all open) are highlighted with a 3 panel slider in addition to a 2 panel slider. Lots of UV treated glass looking out to this resort style backyard that backs up to a wash, with an extended covered patio with tv, built in grill & pool. The primary suite, on the main floor, has a huge bathroom and a very spacious walk in closet. Upstairs is accented with a covered patio overlooking the Valley (city lights and Camelback Mountain); there are 3 bedrooms and 3 bathrooms, two of which are ensuite. In addition to the bedrooms, there is a tech center and a large bonus room upstairs. There are plenty of options to have a home office and play room. The 3 car garage has ample room for all your toys. Several builder upgrades (extended covered patio, Control 4, foam insulation, energy efficient windows, tiled hallways throughout, additional bathroom, bonus room, just to name a few). This home is offered by the original owners that have put a lot of love into this property. This house is a must see.

42311 N Sierra Vista Road Cave Creek, AZ 85331

$2,385,000
4 Beds
4 Baths
4,656 SqFt
Status Active
MLS # 6748202
Property Type Single Family Residence
Price Type --
SERENITY! Oasis in Cave Creek only seven minutes from downtown Cave Creek, Buffalo Chip & Harold's. This incredible home is located on over five acres, unsurpassed views of mountains and saguaro cactus, private guest house, private pool, spa, 3 car oversized garage and beautifully upgraded. Home features private front and back porches with peaceful and truly incredible views. You will find Viking appliances, oversized tile flooring, custom paint, open floor plan, negative edge pool, spa & rock waterfall feature. Close to National Forest and preserve for horses, hiking, etc.

8614 E Berridge Lane Scottsdale, AZ 85250

$2,380,000
3 Beds
2.5 Baths
3,146 SqFt
Status Active
MLS # 6785659
Property Type Single Family Residence
Price Type --
Welcome to the ultimate Contemporary home. Every element of this supreme masterpiece focuses on top quality construction, elegant finishes, and exceptional architectural design. Enjoy the seamless indoor-outdoor living style and design forward features like the 13.5' x 6' I-beam/glass/marble kitchen island, the 30' staircase waterfall poolside, and the tranquil DADOquartz 90 gallon hand polished soaking tub, and so much more. This highly attractive floorpan provides maximum comfort with a 55' Great Room with 13' vaulted ceilings, exposed beams and perforated metal panels. Without any hallways in this design it allows for a maximized living space, exceptional for entertaining.The front courtyard provides relaxing privacy and a 6' waterfall feature equipped with channeled fire place. Additional Features & Updates:

23874 N 123rd Place Scottsdale, AZ 85255

$2,375,000
4 Beds
4.5 Baths
3,468 SqFt
Status Active
MLS # 6737646
Property Type Single Family Residence
Price Type --
Welcome to the best kept secret in Scottsdale, Sereno Canyon. With its jaw-dropping desert mountain views and stunning modern architecture this Villa is like nothing you've ever seen. Open the Visionmakers front door to an entertainer's dream. Expansive kitchen and living room flooded with natural light. Soaring beams accented by gorgeous chandeliers, with a stunning quartz waterfall island. Huge 90 degree glass sliders open to out of this world sunsets. This designer home is luxurious & opulent in every way and will have you living like Royalty! Experience cooler temps & higher elevation at the base of Tom's Thumb. Sereno Canyon is an exclusive Toll Brothers community and includes 24/7 guarded security gate. Highlighted by the beautifully crafted state of the art Mountain House Lodge. Showcasing the most pristine finishes. It includes a 5 star Restaurant Alterra with bar, lounge, indoor/outdoor seating, its sure to impress. 2 sparkling pools with hot tub, private cabanas, framed by the McDowell Mountains. Awesome gym with all the amenities along with sauna and full service spa. Whoa, come live your best life at Sereno Canyon today!

9525 Sierra Springs Drive Pinetop, AZ 85935

$2,375,000
4 Beds
4.5 Baths
4,330 SqFt
Status Active
MLS # 6739699
Property Type Single Family Residence
Price Type --
Stunning Rustic Meets Modern with this gorgeous Luxury Home in a wilderness setting making it the most perfect Upscale Cabin home one can imagine in the beautiful lakeside Sierra Springs Community of Pinetop. This exclusive community boasts the best of the best in Cabin living in the white mountains and this rare opportunity to own a brand-new home built by an established and experienced hometown builder.Only 12 months build time, and you too can own in this prestigious community on one of the nicest view lots still available.They are TOP NOTCH. Minutes to town but far enough to enjoy the starlit dark skies and wildlife.

3514 N Apache Way Scottsdale, AZ 85251

$2,375,000
5 Beds
5 Baths
3,527 SqFt
Status Active
MLS # 6782475
Property Type Single Family Residence
Price Type --
Old Town Scottsdale in walking and biking distance trophy income-producing or private home. Located in a meticulously maintained pride of ownership neighborhood. Modern design meets functionality with seamlessly blends contemporary style with everyday comfort and practical use. Cozy family room features an oversized glass slider, connecting seamlessly to the outdoor environment. Versatile loft space, perfect for work, play, or relaxation. Gourmet kitchen highlights include oversized quartz island, eat-at bar, and top-tier appliance package. Exquisite upgraded features with designer touches like contrasting polished shaker cabinetry and coronado-style flooring package. Spa serenity bathrooms with euro double shower and tub. Sparkling pool and BBQ area perfect for entertaining and relaxing