A guide for families

You did not plan to sell this house

Maybe a parent passed, and the family home is yours to handle now. Maybe the house you raised everyone in simply got bigger than your life. Either way, two questions shape your timing more than the market does, and this guide walks the whole sale in order, so nothing has to be decided today.

Two doors, one guide

Whichever brought you here

The inherited home

A parent passed, and a house held in a trust or moving through probate is yours to handle, often from out of town and alongside siblings. The guide walks what to do first.

The downsized home

Thirty years in, and the house you raised everyone in is bigger than your life now. Leaving a home you chose and loved is its own kind of decision. The guide honors that.

Where the real money decisions hide

The two questions to ask first

You do not need to become an expert. You need to ask your CPA two things, early, because the answers can shape your timing more than the market does.

Question one

Step-up in basis

When you inherit a home, its cost basis generally resets to its value on the date of death. In practice this often means far less capital gains tax than heirs expect, sometimes none, if you sell reasonably soon. Most people do not know to ask about it.

Question two

Proposition 19

California changed how inherited property taxes work. For a home you are selling rather than keeping, this matters less, but if any family member is considering holding it, the picture changes meaningfully. Worth a single conversation before you decide.

This is general information, not legal or tax advice. The guide tells you what to ask, and when; your CPA and attorney confirm your specifics.

What the guide covers

The whole sale, in order

i.
The first thirty days, and what can wait
ii.
How the home is held, and why it sets the clock
iii.
The two tax questions to ask your CPA, early
iv.
Preparing a home no one lives in, handled for you
v.
Selling quietly, if that is what the family wants
vi.
What you actually walk away with
Yours to keep

Read The Family Home

A copy goes straight to your inbox, and you can open it here the moment you sign up. Whether we ever work together or not.

Your details reach me directly and stay private. There is no clock on this from my side. Coldwell Banker Realty, DRE #02005150.

Lisa M. Lum
Who is behind it

A steady hand for families selling a home that carries a lifetime, with the prep, the privacy, and the people handled for you.

Lisa M. Lum, Realtor® at Coldwell Banker Realty in Menlo Park, working the Peninsula from Palo Alto to Hillsborough in English, Chinese, Japanese, and French. DRE #02005150.