1. Check the Mortgage Situation

The first thing you should do is determine the status of the mortgage. If the house still has an outstanding mortgage, you may need to assume the loan or refinance. Some lenders allow you to take over the loan, while others may require you to qualify for a new one. This step is critical if you’re planning to keep the property, whether for personal use or as a rental.

2. Managing a Rental Property

While renting out the inherited property can be a good source of income, it can also be a time-consuming job. Dealing with tenants, repairs, and rent collection can quickly become overwhelming. If you’re not up for the responsibility, consider hiring a property management company or selling the house for cash. We Buy CTX offers an easy solution—sell your house fast and avoid the hassle of managing tenants.

3. Understand the Costs of Ownership

Many inherited homes require some level of upkeep or repairs. Whether it’s minor cosmetic fixes or major structural repairs, maintaining a home costs money. A professional home inspection can help identify any issues and give you an estimate of future repair costs, helping you make an informed decision about whether to keep or sell the property.

4. Selling the House “As-Is”

Don’t want to deal with repairs? No problem. We Buy CTX purchases houses in any condition. You won’t have to worry about fixing up the property—we’ll make a fair, all-cash offer and close in as little as 3 to 5 days. This allows you to move forward quickly without the burden of renovations or upgrades.

5. Consider the Market Value

Is the neighborhood appreciating in value? If so, holding onto the property and renting it out might be a good option. However, if you need to sell quickly or prefer to avoid the long-term responsibilities of being a landlord, We Buy CTX can help you evaluate your options. We’ll assist you in analyzing the current market value of the home and the potential return on investment if you decide to sell now.

6. Don’t Forget About Taxes

Before making any final decisions, consult with a tax professional. Inheriting a property can have tax implications, including inheritance and property taxes. By discussing your situation with a tax advisor, you can avoid surprises down the road and make an informed choice about whether to keep or sell the house.

7. Explore All Your Options

If you’re on the fence between selling and renting, you may want to explore a lease-option agreement. This approach allows you to rent the house while keeping the option to sell later. These deals can be complex, but We Buy CTX has the experience to help you navigate this option if it suits your situation.

8. We’ll Help You Compare Scenarios

At We Buy CTX, we can provide a quick assessment of your property’s value. Whether you want to sell it as-is or explore its potential as a rental, we’ll help you weigh your options and determine the best course of action. You can trust our team to guide you toward the solution that fits your needs.