Inherited a House? A Complete Guide to Selling

Introduction

Losing a loved one is difficult enough without the added stress of dealing with an inherited property. If you have recently inherited a house, you are likely facing questions about probate, taxes, and selling.

Understanding Probate

Probate is the legal process of settling a deceased person’s estate. It varies by state but typically involves:

1. Validating the will (if there is one)
2. Appointing an executor or personal representative
3. Inventorying assets
4. Paying debts and taxes
5. Distributing remaining assets to heirs

Steps to Selling an Inherited Home

1. Determine Your Role

Are you the executor? A beneficiary? This affects your authority to make decisions about the property.

2. Get the Property Appraised

Understanding the home’s value helps with estate taxes and pricing the property for sale.

3. Decide: Sell or Keep?

Consider:

• Do you want to use the property?
• What are the ongoing costs (maintenance, taxes, insurance)?
• Would selling and splitting proceeds be better?

4. Address Any Necessary Issues

Inherited homes often need repairs or updates before they are market-ready.

5. Choose Your Selling Method

• Traditional sale: Maximum value but slower
• Cash sale: Faster, less hassle, sold as-is

Tax Considerations

You may face:

• Property taxes until the home is sold
• Capital gains taxes on the sale (with a stepped-up basis)
• Estate taxes (on larger estates)

Consult a tax professional for your specific situation.

How FairHome Offer Can Help

We understand that selling an inherited home is emotional and complex. We can:

• Buy the property as-is, no repairs needed
• Close quickly, helping you settle the estate faster
• Work directly with executors and beneficiaries
• Provide a fair cash offer with no obligation

Conclusion

You do not have to navigate this process alone. We are here to help make selling an inherited property as stress-free as possible.

Get a free offer for your inherited property.