Inheriting a house sounds like good news — until you’re dealing with property taxes, insurance bills, maintenance calls, and family disagreements on a home you never planned to own. If you’ve inherited a property and want to sell it, here’s what you need to know.
Step 1: Understand What You’ve Actually Inherited
Before you can sell, you need to know what the legal situation is. A few things to sort out:
- Is the estate in probate? If the deceased didn’t have a living trust or joint ownership, the house likely needs to go through probate court before you can sell it. This can take 6–12 months in some states.
- Are there other heirs? If multiple people inherited the property, all heirs typically need to agree to sell.
- Is there a mortgage? If so, payments are likely still due even while the estate is being settled.
- What is the property’s condition? Many inherited homes have deferred maintenance. This affects your sale options.
Step 2: Get the Title Cleared
You cannot sell a house you don’t legally own yet. Work with a probate attorney or real estate attorney to get the title transferred into your name (or the estate’s name). A cash buyer who regularly buys inherited properties will often have experience navigating this process alongside you.
Step 3: Decide How You Want to Sell
You have two main options:
Option A: List with an Agent
If the property is in good condition and you have time (no immediate financial pressure), listing with an agent can maximize your sale price. Expect 60–90 days on market plus closing costs and a 5–6% commission.
Option B: Sell to a Cash Buyer
If the property needs repairs, you want to avoid showings, or you simply want this resolved quickly, a cash buyer is often the better path. Cash buyers purchase as-is — no repairs, no cleaning, no listing. You can close in 1–2 weeks once title is clear. You won’t maximize the sale price, but you’ll eliminate months of carrying costs, stress, and coordination.
Tax Considerations When Selling an Inherited Property
When you inherit a home, you typically receive what’s called a “stepped-up basis” — meaning your cost basis for tax purposes is the market value of the home at the time of the original owner’s death, not what they paid for it decades ago. This often significantly reduces or eliminates capital gains taxes if you sell soon after inheriting.
Talk to a tax professional before you sell. This is one area where good advice upfront can save you thousands.
Don’t Let the House Sit
A vacant inherited property is an ongoing expense — insurance, taxes, utilities, and maintenance don’t stop just because no one is living there. The longer it sits, the more carrying costs eat into whatever you eventually net from the sale.
If you’ve inherited a property in [YOUR STATE] and want to sell it quickly and without hassle, Property Point Solutions buys inherited homes as-is for cash. We’re familiar with probate situations and can often work alongside your attorney to make the process smoother.