HomeBlogReasons to SellWhat Can Go Wrong When You Inherit a House in Arnold, MO Share on Like what you see? Share with a friend. What Can Go Wrong When You Inherit a House in Arnold, MO Chris Kirshenboim | August 22, 2020 Last updated August 10, 2026 Nobody sets out to inherit a house with problems in Arnold, MO. The house arrives with the grief, and the trouble shows up later, in the mail. Here is what can go wrong when you inherit a house, roughly in the order it happens. Probate runs longer than anyone warns you, and until it closes you cannot convey clear title, which means you cannot sell even to a buyer holding cash. The stepped-up basis spares most heirs a capital gains bill, but only if the date-of-death value is documented, so get an appraisal early rather than reconstructing one two years on. Insurance is the quiet failure: a standard homeowner policy can lapse on a vacant house, and a frozen pipe in a Jefferson County January is not covered once it has. Then there are siblings, three of them, with three different timelines. None of this is unfixable. Get the paperwork together, ask the probate attorney for a written timeline, and get a real as-is number so the family is choosing between figures instead of guesses. We buy Arnold houses in any condition, we will wait for probate to clear, and you can read how we buy houses before anyone picks up the phone. You May Owe More Taxes In Arnold, MO Than Anticipated Most people don't have to worry about estate tax because of the very high exemption (in the millions), and the estate tax was even temporarily suspended in 2010. But also mostly suspended in 2010 was the step-up provision. So in considering what can go wrong when you inherit a house in Arnold, MO and when you intend to sell it, you need to consider the stepped-up capital gains situation. The step-up provides that you pay capital gains taxes only on the gains above the fair market value at the date of the decedent's death. It has nothing to do with the price the decedent paid for the property – unless the step-up falls in one of the years when it was changed. In that case, you may owe a lot more in taxes than you bargained for. The Mortgage In Missouri May Be Bigger Than You Thought Generally in the past, when an elderly parent or relative passed, the mortgage on their house was paid off. These days, though, it's common for elderly people to take out a reverse mortgage on their home to supplement insufficient retirement funds. You need to be aware, then, that a reverse mortgage cannot be assumed by heirs. And in the case of a standard mortgage, you can assume the mortgage only if you live in the home yourself. So if you intend to rent the property, you may have to refinance it in your own name. The House In Arnold, Missouri May Need Repairs And Upgrades With respect to what can go wrong when you inherit a property in Arnold, MO, this one may be the most costly. Most of the time, people inherit a home from a deceased elderly parent or a very close relative. Besides not having the physical ability to perform maintenance and upgrades, many elderly people don't have the money for it either. And if they do, they may simply choose not to because they know they won't be living in the house very many more years. If you plan to live in inherited property, this may not be a huge concern. But if you intend to rent it or sell it, you'll have to make repairs to make it presentable and upgrades to bring it up to code and meet other legal and insurance requirements. Installing a new HVAC system or re-wiring the house will involve a big chunk of money. You May Have Problems With Relatives And Joint Heirs In MO But what if you're not the only heir? That can be a problem. Suppose you and your siblings inherited the property jointly. If you want to sell it, your brother may want to rent it, and your other brother, to live in it himself. You can see what a powder keg waiting for a spark this is. In most states, joint heirs of a home are considered tenants in common, and one heir can force a sale if it comes to that. The process, however, is expensive, and the emotional and familial consequences are likely to be highly unpleasant. Sell My House In Arnold, MO So what can go wrong when you inherit a property in Arnold, MO? Quite a lot, actually, if you're not up to speed on tax laws, mortgages, and upgrade issues. It is best to contact qualified professional Missouri home buyers to help head off these issues quickly. Or you can sell your house in St. Louis directly to Chris Buys Homes in St. Louis to get stress-free from the inherited property. We're ready to help you reach your real estate goals and will be glad to answer any and all questions. Selling Your Inherited Property In Arnold, MO? Send Us A Message And Fill The Online Form Or Call Us At [Phone]! FAQs Frequently Asked Questions Can I sell an inherited Arnold house before probate closes? + Usually not. Title has to pass to you or to the estate first, though a small-estate affidavit shortens that in Missouri when the estate qualifies. Ask the probate attorney early. Who pays the taxes and utilities while the estate is open? + The estate does, and in practice heirs front it out of pocket. Those months of taxes, insurance and utilities are the cost most families forget when they debate keeping the house. What if my siblings disagree about selling? + Get an independent as-is offer in writing first. A real number on paper turns a family argument into a decision, because every heir can finally see what a sale would actually mean.
