What professionals might I need when selling an inherited or investment property?
Depending on your situation, you may work with an estate or probate attorney, a CPA, a title professional, and specialists such as well or septic inspectors. Your broker coordinates the real estate side and helps you identify which professionals apply to your situation.
Estate and probate attorney
If a property is part of an estate, an estate or probate attorney confirms who has authority to sell and handles any probate requirements. This is often the first professional to involve for an inherited property.
CPA or tax professional
Inherited property and investment property can carry tax considerations, including capital gains, depreciation recapture, and 1031 exchange questions. A CPA helps you understand the tax treatment of your sale so there are no surprises.
- Capital gains on inherited or investment property
- Depreciation recapture on rentals
- 1031 exchange questions for investors
Title and escrow professionals
A title company verifies ownership and clears the title so the sale can close. The escrow company coordinates the closing and funds. These professionals are part of nearly every real estate sale.
Specialists for rural or unique properties
Rural properties may need well and septic inspectors, surveyors, and county agency coordination. Investment properties may involve property managers or landlord-tenant attorneys. Your broker helps you identify which specialists your specific property needs.
When to consult a professional
Legal, tax, and specialized advice should come from the appropriate licensed professionals. Your broker does not provide legal or tax advice.
A real conversation can answer more.
Lisa can help you understand which professionals your situation calls for and coordinate the real estate side of the process.