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If you rent your inherited house, your capital gains tax is higher. If you inherit a house that you don't want to live in, you can sell the house or rent it out. If the market's flat right in your area, renting may be the better financial option.It will have an effect on your taxes, though, so take that into account when choosing your options.eassessment. Whether you rent or live in the house, you may see higher property taxes than the former owner. California law limits increases in assessed value to 2 percent a year. When the house changes hands, it gets reassessed to its real worth.
Hi Jennette. As many of the others have said, yes, you can sell a house that has damage or mold. People do sell homes with damage, typically a buyer will need to pay cash or have a 203k loan to make the transaction work. How damaged the home in might make an impact on the value and the price you are able to sell it for.i Jennette, You can sell a property in ANY condition and not have to do anything to it. It all depends on what you need to get out of that property. If you don't want to to anything, you don't have to tear it town, all you have to do is disclose the things that are wrong with it and sell it As-Is.