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

27780 W Ox Ranch Road Congress, AZ 85332

$25,000,000
5 Beds
4 Baths
2,328 SqFt
Status Active
MLS # 6016821
Property Type Single Family - Detached
Price Type --
The O.X. - Little Horse Ranch is an approximately 95,000 +/- acre ranching operation including the 65,620 +/- acre O.X. farm and ranch including 2,292+/- deeded acres located in the high Sonoran Desert 15 miles North of Wickenburg, AZ and the 29,072 +/- acre Little Horse Ranch located in the pine-covered country along the I-17 freeway beginning 3 miles south of Flagstaff, AZ. The 140-year old O.X. Ranch, which is regarded by many as the finest desert ranch in the Southwest, extends from the town of Congress, AZ, at a 3,000 ft. elevation, to the pine-covered peaks of the Weaver Mountains at almost 6,000 feet. The three perennial streams that converge at the headquarters, together with a spring that produces several hundred gallons of water per minute, a 30ft. water table, and a 13 ACRE LAKE

6015 E Cameldale Way Paradise Valley, AZ 85253

$22,500,000
7 Beds
14 Baths
15,736 SqFt
Status Active
MLS # 6214376
Property Type Single Family - Detached
Price Type --
A work of Art - first time on the market and situated on one of the most commanding homesites in Cameldale, this Grand Estate graces 4.27 acres with stunning views at the base of Camelback Mountain. Created by the vision of its' owner and the professional talent of the Superfecta: Candelaria Design, Inc. (Architect), Desert Star Construction (Builder), Vallone Design, Inc. (Interiors), and Berghoff Design Group (Landscape), every detail exudes an ambience that is grand, yet warm and comfortable for an unequaled Lifestyle. Through the gated entry to the charming arrival, the warmth of a French countryside setting draws you in to handsome stone dwellings with compliments of wood and iron that are the main house, additional garages, a two bedroom, two bath, complete Guest House, ....

7620 N Red Ledge Drive Paradise Valley, AZ 85253

$20,000,000
9 Beds
14 Baths
18,000 SqFt
Status Active
MLS # 6097421
Property Type Single Family - Detached
Price Type --
EXTRAORDINARY CONTEMPORARY MASTERPIECE BY CP Drewett! UNPARALLELED VIEWS, PRIVACY, AND LOCATION! This spectacular, fully customizable, contemporary build-to-suit home, perfectly situated on a 16.4 acre mountain top Paradise Valley estate lot, presents the most discriminating individual an opportunity to have it all. Located within a guard-gated community, and behind its own private gate, the privileged owner of this extraordinary home will possess a unique level of privacy and seclusion rarely found, especially when considering the area's best fine dining, shopping, and entertainment are within 15 minutes drive, and both the Phoenix Sky Harbor International and Scottsdale Airports are only 20 minutes away. This remarkable property offers two breathtaking building pads. Must Watch Videos

15860 E Rio Verde Drive Scottsdale, AZ 85262

$19,500,000
4 Beds
8 Baths
8,744 SqFt
Status Active
MLS # 6106214
Property Type Single Family - Detached
Price Type --
A coveted Modern West lifestyle awaits in the glorious Sonoran Desert at MorDo Ranch. Located just minutes from all the amenities Scottsdale has to offer, this 101+ acre horse ranch offers both luxury home living along with superb horse facilities. The main residence, designed after an Argentinian Estancia, displays Kitchell commercial building expertise tailored to a magnificent and welcoming estate home, with open floor plan, private his and her offices, two separate guest suites and intimate entertaining areas. Among the estate grounds are a 10-stall barn, two corrals, and four 5-acre pastures. Closer to the main residence are two managers homes, greenhouse and both pool and tennis court.

10719 E Rimrock Drive Scottsdale, AZ 85255

$18,750,000
6 Beds
8 Baths
13,111 SqFt
Status Active
MLS # 6144446
Property Type Single Family - Detached
Price Type --
Backdropped by the magnificent McDowell Mountains, this incredible Silverleaf estate boasts dramatic views of the vibrant golf course and the twinkling city lights of the Valley below. Designed and built for the most discerning, the home features qualities authentic to a timeless California-style estate with a private gated entrance leading to an extended driveway and grand motor court. Impeccable attention to detail, the finest materials and unparalleled craftsmanship were executed perfectly throughout. Strategically placed on a 9-acre signature homesite is the 13,111 square foot, 6-ensuite bedrooms, 8 bath, timeless home with a detached 1,789 square foot, two-bedroom guest home. This was the first home built in Silverleaf to achieve LEED certification for energy efficiency.

8100 N 68th Street Paradise Valley, AZ 85253

$18,000,000
5 Beds
7.5 Baths
17,912 SqFt
Status Active
MLS # 6194320
Property Type Single Family - Detached
Price Type --
This authentic Italian Villa in the heart of Paradise Valley was 10 years in the making. Influcenced by the Getty Villa outside of Rome, the materials and artisans who hand crafted them were imported from Italy to work onsite with meticulous detail, under the supervision of noted designer Juan Sandoval. The living spaces open to a grand loggia surrounding two courtyards of lush beauty, (over 300 rosebushes on the property) transporting one's soul to a different place in time. The architectural precision, quality of workmanship, construction quality, attention to detail is unsurpassed. The 60'x60' hand-tiled mosaic heated salt water pool (150,000 gal.) is a work of art, as is each bedroom suite w/ fireproof walls, all Venetian plastered walls throughout, every bookmatched marble floor.

5800 N Yucca Road Paradise Valley, AZ 85253

$16,800,000
8 Beds
11 Baths
21,379 SqFt
Status Active
MLS # 6222976
Property Type Single Family - Detached
Price Type --
On 4.62 acres in exclusive Cameldale, with full Camelback Mtn views, sits this incredible French-inspired country chateau currently UNDER AN EXTENSIVE RENOVATION. A lantern-lined long driveway with hand-built stone wall, expansive lush lawns, and a Monet lily pond introduces the estate. The compound totals 21,000 sqft and includes a guest home, a 6,500 sqft game house with indoor 1/2 basketball court, gym+ 300 person club rm, bar, kitchen, home theatre + antique fireplace. The beautiful main home has 7 bedrooms including full attached guest quarters, wine rm+ large tasting rm, library, slate roof, 7 car garage and more. The grounds also feature a tennis court, an English-built Hartley greenhouse, vegetable garden, citrus grove, rose garden , courtyards+ playhouse with playground

41927 N Saguaro Forest Drive Scottsdale, AZ 85262

$16,500,000
5 Beds
5.5 Baths
9,860 SqFt
Status Active
MLS # 6012791
Property Type Single Family - Detached
Price Type --
The Bacon House at Desert Mountain is a stunning classically modern 9,860 square foot home, designed by Master of the Southwest Architectural Designer Bob Bacon. This south-facing, five-bedroom, open plan home and gallery will be built in Desert Mountain, a secure, gated, private club and recreation-oriented master planned community in Scottsdale, Arizona. The capstone of a storied career, Bacon has created a true masterpiece of livable architectural art destined to be one of the finest homes anywhere; replete with the most advanced technology (including being solar powered) and 5,550 SF of climate-controlled collector's galleries for the safe display of prized possessions such as automobiles, art, or sculpture. A Bacon curated collection of furnishings is also available separately.

20936 N 109th Place Scottsdale, AZ 85255

$16,500,000
6 Beds
11 Baths
16,976 SqFt
Status Active
MLS # 6202608
Property Type Single Family - Detached
Price Type --
Never before listed! This magnificent private estate awaits a most discerning owner! Situated behind its own private gates on nearly 3 acres within the guard-gated Upper Canyon of Silverleaf. Sophisticated 16,000+ sq ft. custom luxury retreat offers 3 full en-suite master bedrooms each with washer/dryer and safe rooms attached. Two separate guest suites above the garage. An additional 3 offices, 2 of which can be converted to en-suite bedrooms for a possible total of 8 bedrooms and 11 bathrooms. Multiple living and entertaining areas including a fully equipped state-of-the-art theater room. Spacious chef's kitchen with double islands and exceptional custom crafted cabinets. Beautiful, gated motor court with six garages....

6121 N Nauni Valley Drive Paradise Valley, AZ 85253

$15,000,000 - 4Br/5Ba - Home for Sale in Nauni Valley Ranch 5, Paradise Valley
New
$15,000,000
4 Beds
4.5 Baths
5,631 SqFt
Status Active
MLS # 6233019
Property Type Single Family - Detached
Price Type --
From what began as an appeal and vision to create the most alluring home in Arizona's highly sought-after Paradise Valley, Dancing Light came into being, a triumph in contemporary residential architecture that truly reflects the spirit of its natural surroundings. A sprawling 2.8 acres contains two stunning residences, with the main house and guest house consisting of 3 bedrooms and 3 1/2 baths, and 1 bedroom and 1 bath, respectively. Prepare for moments of awe in this Kendle Design, Architect/Desert Star Construction/David Michael Miller, Interiors-designed 6,198 square-foot masterpiece replete with artfully functional details that extends naturally to the outdoors. Camelback Mountain is silently poised nearby, as if offering its blessing to a desert compound made up of the area's natural

6659 E Indian Bend Road Paradise Valley, AZ 85253

$13,000,000
7 Beds
15 Baths
26,393 SqFt
Status Active
MLS # 6174692
Property Type Single Family - Detached
Price Type --
Infrequent discovery: Save several years in construction phase and NEW construction built cost (offered under $500 per sqft, this level construction, New is trading $1,500+ SQFT). This Ultimate Guard Gated Estate assures security and privacy. Homes commercial (concrete and steel) grade construction is under way and can be personalized to your taste if you act now! The home can accommodate parking for 20 of your most special car collection or use this space as your ball room/event center. Its generous size, bank grade vault can store your Art, Jewelry or garments. In your spare time, you may find your self lounging by its front courtyard's reflecting pool, its back yard's pool or your indoor pool/spa area. Your wine tasting room can be within the wine cellar or intimately outdoors.

19663 N 103rd Street Scottsdale, AZ 85255

$13,000,000
6 Beds
7.5 Baths
10,429 SqFt
Status Active
MLS # 6233606
Property Type Single Family - Detached
Price Type --
Silverleaf is one of the most exclusive and sought after golf communities and country club enclaves in the Southwest and the gated Horseshoe Canyon is considered by many to be the premier neighborhood. Adjacent to natural open space and the 2nd fairway, this truly private 10,429 sq. ft. Ranch Hacienda home not only offers 360 degree views, but is thoughtfully crafted with the highest quality finishes, creating a design style that is sophisticated yet casual. The impressive stonework throughout, custom millwork and tile, expansive walls of glass and lush landscaping provide the perfect background for countless amenities: 3 bedrooms on main level and all secondary bedrooms are junior masters, true gourmet kitchen and catering kitchen, glassed walk-in wine room, glass elevator, 2 bedroom