Thoughts on Probate

[Rob Steers]

Hi,

I'm starting out and started putting together some lists and doing a lot of reading. I was hoping to get some thoughts on the tax implications of inheriting property and how to spin that (if that's the right way to put it) to a potential seller. It would seem to me that a benefit to the seller would be claiming the loss by selling under FMV at the 3K/yr rate. The potential problem I'm seeing with that is bringing the FMV of the home to the forefront.

I want to do this in an upfront and honest fashion but I know there are things to say and things not to say when negotiating. How have other people handled this scenario? 

Another thing to note is that I'm an engineer by trade so I'm shifting my comfort zone and can use all the advice you guys might have when it comes to negotiating in general. 

Thanks in advance. I'm sure I'm going to have many more questions in the upcoming months as I shift through the stages of competency. 

Rob