The realities of inheriting a property

Eddie Van Buskirk • October 28, 2022

Whenever you imagine what it might be like to be the heir of an estate, you might think it means a large influx of money for yourself, taking over all the possessions, or maybe they are passing on valuable antiques, gold, or maybe guns to you and your children. That is all good and some of these scenarios might turn out to be true, but what about the rest? What about other family members that might want a piece of all of those things? What steps do you have to take to be able to get your hands on that money? Many people look at inheriting a property as a huge pay day so I want to dive into this notion to bring forth the additional realities of such a situation. 


Multiple People Involved 


When someone passes on their possessions they are usually passed on to multiple people. This is one of the biggest reasons why the money never makes it to the family members - disputes arise between the family members and make decisions difficult and complicated to act on. Now, let’s pretend there are no arguments between family members, what is going to happen to the belongings in the house and who is responsible for which tasks? Who is going to coordinate the estate sale? Who is going to do the cleanout? Are there repairs that need to be done? Who is going to do those? Who is going to pay for the expenses in the interim? Was there money in the estate to cover these expenses, let alone the ongoing bills like mortgage, utilities or taxes? It can quickly get overwhelming and usually it becomes the personal representative’s responsibility (and burden). If you are the sole heir to an estate are you ready to handle all of this on your own? 


Years Worth of Belongings 


Many times, when people inherit a property, they plan to host an estate sale to empty out the unwanted possessions and then then house will be ready to sell on the market. In many cases if the estate does not have enough possessions of significant value, companies won’t do an estate sale (this is common when the family members each take what they want from an estate and only plan to sell “what’s left”). When there is an estate sale the company facilitating the sale, they take, on average, 50% of the profits. If there is not enough value to do an estate sale then what does the family do with the belongings in the house? Does everything get donated, dispersed among family or thrown away? Sometimes it can be crippling for heirs to throw away something that might seem meaningless and simple, but might bring back strong memories. And with a whole house full of these belongings, it can make it almost impossible to sell, or especially, throw away things that have sentimental value. 


Mortgage or Reverse Mortgage on the Property


In many cases there can still be a mortgage or a reverse mortgage on the property that result in little or no value in the property once the family has cleared out the house. If there is a mortgage on the property this can be difficult if the families do not inherit any money to pay the bills each month. In situations like this, it may put the heirs in a tight financial situation if they are to come up with that additional money each month for new expenses. If the house is foreclosed on, then the family might lose out on any potential equity. If a reverse mortgage was taken out on the house many family members assume that there is nothing they can do about it and subsequently choose to let the house get foreclosed on. This is not the case, many times there is still equity in the house and it can be sold, the reverse mortgage can be paid off and the heirs get to keep the rest. Other times there is negative equity but it is a relatively easy process to short sale an inherited property because the debts of the deceased person are not taken into consideration. Typically the family just signs the paperwork and lets the real estate agent do all the work. Why would someone go through that extra work when they get nothing? In a reverse mortgage situation the bank usually does not foreclose right away and it can sometimes take a year or more. Many people do not want to see their parents or other house become dilapidated, rundown, or vandalized and become a blight on the neighborhood, this is the reason that a person might jump through all the extra hoops to prevent the house from being foreclosed on. 


What Can You Do? 


Since most people only inherit a house one, maybe two, times in their lifetime it is not something that most people are experts at doing. That is why hiring a team that can help in all of these areas whether it is simply speeding up the process to prevent a foreclosure, or knowing who the right people are to host an estate sale or repair on the house, or being able to sort through the items that are important and know which ones can get donated or thrown away. That is where Kansas City Legacy Properties comes to the scene. We have been helping heirs navigate these and many other obstacles in their journey of their inherited property. Give us a call at 816-281-7586.

Cluttered storage space filled with stacked boxes and bins of various sizes and colors.
By Eddie Van Buskirk August 12, 2025
What happens when you inherit a home—and walk inside to find piles of trash, old boxes, and barely a path to walk through? You didn’t expect it to be like this. Maybe you didn’t even know. But now it’s your responsibility—and you don’t know where to start. This Is More Common Than You Think A loved one passes away or moves into a care facility, and suddenly you're standing in a hoarder house. The emotions hit fast—shock, stress, embarrassment... even guilt. Here’s the most important thing to understand: This didn’t happen to spite you. This isn’t a reflection of how much they cared. Hoarding is a mental health issue—one that’s incredibly difficult to face. And now you’re left to deal with the emotional and physical weight of it all. The Fear That Paralyzes Families If you’re like most people in this situation, the fear of throwing away something valuable stops you from touching anything. At the same time, the idea of spending $10,000 or more on a cleanout makes you want to walk away entirely. That’s exactly when wholesalers and flippers show up—with fast cash offers that sound tempting but are designed to take advantage of your stress. They see dollar signs. You see a disaster. And yes—it’s tempting to just be done with it. But in many cases, there’s real value underneath all that clutter. You just need someone who’s not trying to take advantage of you. Real Story: From Hoarder House to Sold Home We recently worked with a man who inherited his in-law’s house. He always suspected the place wasn’t in great shape—his in-law never let anyone come over. But when he visited them, everything was spotless. He’d even rent a carpet shampooer to make sure the house was cleaner than when the kids lived there. So when his in-law passed, he was braced for the worst—and he was right. Inside the house, trash was piled four to five feet high. There was barely even a walkway. Most of it was actual garbage—bags that had never been taken out, mail never opened, boxes stacked floor to ceiling. And the most shocking part? He had been living in that house until just two weeks before he passed. The heir was quoted over $13,000 for a cleanout. He nearly walked away from the property completely. That’s when we stepped in. We coordinated a professional cleanout for just over half that price . Once the house was cleared, we saw what he was really working with—a solid, well-built home. Yes, it was dated. But it had good bones. We got it cleaned, listed, and sold—without the family having to lift a finger. Want to Handle It Yourself? Here’s How If you're planning to take on a hoarder house cleanout yourself, avoid calling a 1-800 junk removal company . If the house is truly packed, you’ll run out of money fast. Here’s a more affordable and practical plan: Rent two dumpsters. Call a local temp agency. Hire four insured workers. Work room by room with one or two trusted family members. The temp agency will carry all the liability insurance— not you . That keeps everyone safe and gives you peace of mind while staying in budget. Or... Let KC Legacy Handle It All If the thought of sorting through piles, coordinating labor, and figuring out what’s next feels like too much—you’re not alone. And you don’t have to go through it alone. At KC Legacy Properties , we handle hoarder house situations from start to finish: Cleanouts Contractor coordination Listing and selling the home Or discussing cash options— without pressure We’ll walk you through your options with honesty and empathy. Whether the best path is listing for top dollar or taking a clean, fast sale—we’ll help you understand what’s truly best for you. Before You Make a Rushed Decision… Before you say yes to a lowball cash offer… Before you walk away from a home that could change your family’s financial future… Call us. 816-307-7163 We’ll give you straight answers. No pressure. Just clarity, options, and support —from a local team that truly cares.
By Eddie Van Buskirk June 30, 2025
No one ever expects to be in this situation. Losing someone to suicide is devastating. It's painful, confusing, and can leave you feeling paralyzed. If you’re also the person tasked with handling their estate or have inherited their property, that emotional burden gets even heavier. At KC Legacy Properties, we've walked beside families going through this very experience. It's heartbreaking. And it's our mission to make sure no one has to go through it alone. The Overwhelming Reality of Inheriting a Property in Tragic Circumstances When someone passes unexpectedly—especially by suicide—there's often no plan in place. Suddenly, you're facing rent due, contents to sort, legal questions, and deep emotional wounds. We've seen families struggle with where to start: How do you clear out a loved one's belongings without reliving the trauma? What if you're far away, or emotionally unable to face the property? How do you protect the estate from further financial damage? These are questions no one prepares for. But we can help you answer them. Real Stories, Real Solutions In one case, a family member called us because they were emotionally detached enough to manage the process, but still deeply concerned about shielding others from trauma. Together, we made a list of items to keep, walked through the apartment via Zoom, and carefully retrieved the important belongings. The rest was donated or discarded, allowing them to stop paying rent on the unit and move forward. In another situation, a man inherited his brother’s home but was frozen by grief. For a year, nothing happened. Squatters had broken in. The house risked being lost to back taxes. We visited him personally, gently walked him through each step—collecting items, clearing the property, resolving title issues, and eventually helping him sell the home. Without that partnership, he might still be stuck in limbo. You Don't Have to Face This Alone The truth is, dealing with an inherited home after suicide is too much to take on all at once. That’s why our approach is simple: one step at a time. First, identify and protect valuables and documents. Then, make decisions about belongings—donation, storage, sale or disposal. Next, resolve title or legal issues. Finally, decide whether to sell traditionally or explore a cash option. We never pressure you. We simply help you move forward, at your pace, with dignity and transparency. KC Legacy Properties: Here When You Need Us Most We know you're grieving. And we want you to know: you're not alone. Whether you need someone to hold your hand through the process or just want honest advice, we're here to help. And if you decide you want a cash offer to simply walk away, we can make that happen too. But we’ll always show you all your options so you can make the best decision for your future.  Reach out today. Call us at (816) 307-7163 or fill out the inquiry form at KC Legacy Properties . We're here to listen, and to help.
By Eddie Van Buskirk June 25, 2025
You found a buyer, you signed the contract, and now you’re just waiting to close—right? Not so fast. Some of the most common (and expensive) real estate mistakes happen after the offer is accepted. The good news? If you're the seller, you can avoid almost all of them with the right game plan. At KC Legacy Properties, we help our sellers close with confidence—not chaos. Here are 10 avoidable reasons your home sale might fall apart, and how to steer clear of every one: 1. Delaying Agreed-Upon Repairs If you promised to fix something, get it done—on time. Buyers can legally walk if you don’t deliver. 2. Blocking Appraisals or Inspections Don’t cancel or restrict access. It slows the process and raises red flags for buyers. 3. Trying to Renegotiate After Signing The contract is the contract. Changing dates, keeping appliances, or adding new demands puts the deal at risk. 4. Hiding Known Issues Undisclosed problems (like mold or foundation cracks) almost always surface—and buyers don’t like surprises. 5. Not Being Ready to Move If you can’t hand over keys on time, you’re breaking the agreement. Have a real exit plan, not a guess. 6. Title Problems Unpaid taxes, old liens, or ownership disputes? They’ll come up. Address them early to avoid delays or cancellations. 7. Leaving the Home in Bad Condition Buyers do a final walkthrough for a reason. If the home is dirty, damaged, or missing agreed-upon items, they can walk away at the finish line. 8. Getting Cold Feet Once you're under contract, backing out isn’t just emotional—it can lead to legal trouble. Be sure before you list. 9. Ignoring Paperwork or Deadlines Missing documents or delayed responses can tank your timeline. Stay responsive and on top of everything. 10. Overreacting to Buyer Requests Not every inspection request is personal. Stay calm and negotiate smart—small concessions can save the whole deal. Thinking About Selling? Just getting to contract isn’t enough—you need to get to closing. At KC Legacy Properties, we help homeowners navigate every step of the sale with expert advice, full transparency, and no pressure. Have questions about your situation? Let’s talk. Your home, your timeline, your terms—with the guidance you deserve.
By Eddie Van Buskirk January 10, 2025
Why Use Professional Services? Any financially savvy person might wonder why they should pay for a service when they could handle things themselves. It's true that you can look up contractors or take care of trash removal and cleaning on your own. However, the benefits of using a professional service often outweigh the costs. Let’s see if that scenario is true for you. The Right Tools for the Job Having the right tools can make any job significantly easier and faster. Imagine trying to chop down a tree with a hammer—it could take weeks. Using an axe might reduce the time to 30 minutes, and a well-sharpened axe could cut that down to just 15 minutes. Tackling an inherited property without the proper tools and expertise is like using a hammer on that tree. Plus, without experience, you risk unexpected problems, much like a tree falling in an unpredictable direction. Does that extra pain and struggle seem worth it for you right now? The Challenge of DIY An inherited property often arrives at an inconvenient time, adding to your already full plate. Managing it alone can quickly consume all your free time and energy, leading to stress and frustration. Benefits of Using Kansas City Legacy Properties Kansas City Legacy Properties offers a network of trusted vendors and contractors who work efficiently and effectively. We understand the best order for tasks and know how to save you money along the way. Most importantly, we handle everything while you focus on your other responsibilities. Financial Implications Holding onto a house without taking action can become a financial burden. Attempting to manage it yourself may seem cost-effective initially, but the prolonged process often results in higher holding costs. This frustration can lead to burnout and the temptation to accept a lowball offer from cash buyer companies looking to take advantage of your situation. Call to Action If you’re feeling overwhelmed and realize that handling it yourself isn’t feasible, contact us at (816) 307-7163 . Let us help turn your inherited property into a blessing rather than a burden.
By Eddie Van Buskirk October 8, 2024
Inheriting a house can bring both joy and confusion, especially when it comes to taxes. A common question is: Do I have to pay capital gains taxes on my inherited property? The answer? Maybe. Here’s how it works: When you inherit a property, you benefit from something called a "step-up in basis." This means the value of the house adjusts to its current market value, rather than what your parents originally paid. For example, if they bought the home in 1979 for $60,000, and today it’s worth $400,000, the house’s value “steps up” to $400,000. This can potentially save you a lot on taxes. So, if you sell the home for the current market value soon after inheriting it, you're likely off the hook for capital gains taxes. But here’s the catch. If you hold onto the house for a few years, the market value might increase. For instance, at an average appreciation rate of 6.2% annually, that $400,000 house could be worth $476,000 in just three years. Now, you’ll owe capital gains tax on the difference—$76,000. Depending on your tax bracket, you could pay up to 37% of that amount in taxes. Other Costs to Consider Holding onto the house comes with additional costs, such as: Vacant home insurance Ongoing maintenance Property taxes Plus, there’s always the risk of unexpected issues, like a burst pipe or a break-in. We’ve seen families hold onto an inherited house for a decade or more, thinking they’ll "get to it." However, as the house’s value rises, so do their tax obligations, turning what could have been a quick decision into a costly wait. Act Now, Save More At KC Legacy Properties , we understand the challenges of managing inherited properties. Don’t let taxes, time, and uncertainty eat away at your inheritance. We can help you create a plan that simplifies the process, turning a potential burden into a blessing. Give us a call today at 816-307-7163 Let’s make sure you keep more of what’s rightfully yours.
By Eddie Van Buskirk September 19, 2024
I don't want to be a Landlord!
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By Eddie Van Buskirk August 12, 2024
If you've recently inherited a property, chances are it still boasts some retro charm, like faux-wood paneling or maybe even an eye-catching orange carpet. You might be tempted to dive into a full-scale renovation, but hold onto your toolbox—there's a smarter approach. Let's face it: splurging on a major remodel might not give you the bang for your buck. Plus, new owners often prefer to put their personal touch on things. But fear not, there are a few updates that can sprinkle some magic dust on your property to help it dazzle potential buyers.
By Eddie Van Buskirk July 30, 2024
When your parents age gracefully in their own home, a quiet thought lingers: “When will they need to move?” It’s a question we all hope to avoid, but life has a way of making its own plans. The transition to a nursing home or retirement community often happens when we least expect it, placing the burden on you, the Power of Attorney, to make swift, critical decisions. Even if your loved one has a plan in place, the workload remains heavy. Let’s walk through the steps to ease this journey.
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