Did You Inherit a Home in Louisiana?

Deciding what to do with an inherited house can be tricky. Are you the sole heir? Have you inherited the house with other relatives? There are a few options to consider when deciding what to do with inherited property.

You could move into the house you inherited. Not all inherited properties are paid off, so if this is the case, you will be responsible for all mortgage payments. Even in the event that the mortgage has been paid in full, there will still be taxes, homeowner’s insurance, and general maintenance to keep current on. These expenses can add up quickly, and you may find that you simply can’t afford to take over the house.

Another option is renting out the house. This can generate profit, but also comes with the challenges of being a landlord. Locating potential renters and preparing the property for tenants can be considerable upfront expenses. You will still be liable for taxes, mortgage payments, and expensive home maintenance and repairs.

Don’t be blindsided by the significant challenges and expenses that can come with an inherited home. If neither of these options sounds appealing, your best option could be to sell the home and move on with your life.

How We Help New Orleans Homeowners Unload Unwanted Inherited Property

If you inherited a house that you don’t need, don’t want, or can’t afford, you’ll still be responsible for all the mortgage payments, maintenance costs, insurance premiums, and tax payments associated with the property for as long as it remains in your name — even if you don’t live in it or obtain any income from it.

Big Easy Buyers can help you get the fast cash that you need for the house you don’t. No more property management or tax liability, just a cash offer on the spot and a close within 30 days. By selling your inherited house immediately you can avoid wasting money on mortgage and insurance, and possibly avoid a capital gains tax.