Twin Cities Property Finder · David Olson, Broker · MN #BK3603584 · Whitefish Property Finder · MN #40646463 · Licensed in Minnesota, Wisconsin and Florida
I don’t care how expected it is, the death of a spouse leaves the surviving spouse reeling and with a thousand questions.
Here’s what to know, whether you’re selling, buying or just curious.
Here’s an honest look, whether you’re selling or buying.
What to know
It’s good to know that the IRS has given special consideration regarding the sale of their jointly-owned principal residence after the death of a spouse.
- The sale needs to take place no more than two years after the date of death of the spouse
- Surviving spouse must not have remarried
- Both spouses must have used the home as their principal residences for two of the last five years prior to the death
- Both spouses must have owned the home for two of the last five years prior to the death
- Neither spouse may have excluded gain from the sale of another principal residence during the last two years prior to the death
If you have been widowed in the last two years and have gain in your principal residence, it would be worth investigating the possibilities. Contact your tax professional for advice about your specific situation. Contact me to find out what your home is worth in today’s market. See
A simple plan for your move
I’ve been helping people sell and buy homes across Minnesota, Wisconsin, and Florida for about two decades, and I build and remodel luxury homes too. I’ll help you see both what a property is and what it could be.
Getting the house ready, or making it yours
If you’re selling and want repairs handled before buyers see them, Super Crew Contractors can give you an estimate. If you’re ready for something custom, Ivy Lane Homes does luxury home building and remodeling. And a quick coverage check with Intrinsic Insurance before closing can save you a surprise. Ready to talk? Start a buyer plan or ask what your home is worth.
Super Crew Contractors, Ivy Lane Homes and Intrinsic Insurance are owned by David Olson; you are free to use any contractor, builder or insurer.
Your next step
Every move is different. Whether you’re selling or buying, I’ll help you make a plan that fits.
Please note: I don’t handle rentals or property management. I work with sellers and buyers, and that’s where I can help you most in the Twin Cities.
Stay close to the market, without the noise.
Every so often I send a short, practical note: what Twin Cities homes did, prep tips that are worth the money, and neighborhoods worth a look.
Thank you! You’re on the list.
I’m glad you’re here. A quick confirmation is on its way to your inbox. Whenever you want to talk about your own home or a move, I’m a call or text away.
