Selling an Inherited Property + Reverse Mortgages Explained

What happens when you inherit a home and suddenly have to figure out what to do with it? This week on Under One Roof MTL, LJ Aguinaga walks us through the process of selling an inherited property, from the paperwork that needs to happen first to deciding whether to renovate, repair, or simply sell the home as-is.

Plus, Fred and Martin break down reverse mortgages: how they work, who they're designed for, how much equity homeowners may be able to access, and why someone might choose a reverse mortgage instead of refinancing or using a HELOC. We also explain why fixed mortgage rates are rising even though the Bank of Canada hasn't raised its key interest rate.

In This Episode

What's Happening in the Market: Why Are Fixed Mortgage Rates Rising?

The Bank of Canada hasn't raised its key rate, but some fixed mortgage rates are moving higher. We break down why the bond market matters and what borrowers should be watching.

• Why fixed mortgage rates can rise without a Bank of Canada rate increase
• The connection between inflation, bond yields and fixed mortgage rates
• Why variable and fixed mortgage rates respond to different forces
• What rising bond yields could mean if you're buying, renewing, or refinancing
• Why securing a rate hold may be worth considering
• Why the lowest mortgage rate isn't necessarily the best mortgage

Real Estate: Selling an Inherited Property

Selling a home through an estate comes with some unique considerations. LJ explains what families should expect and how to avoid making an already complicated process more difficult.

• What needs to happen before an inherited property can be listed for sale
• How selling an inherited home differs from selling your own residence
• Whether it's worth repairing or updating an older home before putting it on the market
• Who makes the decisions when multiple family members inherit a property
• How to establish the home's market value without letting emotional attachment influence the price
• When selling as-is may make more sense than spending months renovating
• Common mistakes families make when preparing an inherited property for sale
• What families can do ahead of time to make the eventual process easier

Mortgages: Reverse Mortgages Explained

Using a real-life homeowner example, Fred and Martin take us through the basics of reverse mortgages and the situations where this type of financing may be considered.

• What exactly is a reverse mortgage?
• Who are reverse mortgages designed for?
• How much money can a homeowner access?
• What are the biggest advantages and drawbacks?
• Why choose a reverse mortgage instead of refinancing?
• How a reverse mortgage differs from using a HELOC

Property of the Week

This week we're heading to 1765–1767 Rue Le Caron in Côte-Saint-Paul, a well-maintained duplex that offers an opportunity to live in one unit while collecting rent from the other.

The property features new windows, doors, and exterior staircases completed in 2024, a spacious private backyard, and more than $36,000 in annual revenue potential.

Listed at $750,000.

Trivia Question of the Week

Question: What does it mean to have equity in your home?

Answer: Home equity is the portion of your home's value that you own, calculated by subtracting your outstanding mortgage and other debts secured against the property from its current market value.

Get in Touch

LJ Aguinaga – Real Estate
514-500-4040
ljrealties.com
@ljaguinaga | @ljrealties

Plex Dr Property Management
plexdr.com

Fred & Martin – Mortgage Experts
FredAndMartin.com

Under One Roof MTL
underoneroofmtl@gmail.com