Selling an Inherited Property in Florida: What You Need to Know

By Ryan McAllister – Coldwell Banker Realty

Inheriting a home can bring a mix of emotions. For many, it represents a loved one’s legacy. But it also brings questions, especially when it comes to selling.

If you’ve recently inherited a property in Brevard County, you may be wondering what to do next. Should you keep it? Sell it? What happens with the mortgage, taxes, or repairs? And how soon can you actually list it?

The process may seem overwhelming at first, but with the right guidance, it doesn’t have to be. Here’s what you need to know to move forward with confidence.

Understanding Probate: Can You Sell Right Away?

In Florida, most inherited homes go through a legal process called probate. This ensures the property is officially transferred to the rightful heir(s). If the deceased left a will, the process can be relatively straightforward. If not, the court steps in to determine the distribution of assets.

Until probate is complete, you typically can’t sell the home — but there are exceptions. If the property was held in a living trust or designated in a “Lady Bird” deed (which is popular here in Florida), probate may not be necessary. That’s why it’s important to speak with an estate attorney early on to understand the specifics of your situation.

In Brevard County, probate can take anywhere from a few weeks to several months, depending on complexity. While you wait, this is a great time to begin preparing the home for sale behind the scenes.

Dealing with Mortgages, Liens, and Insurance

Many people assume inherited homes are mortgage-free, but that’s not always the case. If the property still has a loan, the responsibility to maintain payments falls to the estate or heirs. Failing to do so could lead to foreclosure — even during probate.

You’ll also want to check for any liens, unpaid property taxes, or insurance issues. Some policies become void upon the owner’s death, so it’s critical to contact the insurance provider and ensure the home remains covered while it’s vacant.

This step is often overlooked, but in Florida’s storm-prone climate, keeping insurance active during the transition is a must.

Preparing the Home for Sale: Clean-Up, Updates, and Tough Decisions

Inherited homes are often older and may not have been updated in years. Before listing, it’s worth taking a clear-eyed look at the home’s condition and market potential.

Here in Brevard, buyers are selective — especially with rising insurance costs and stricter inspection standards. Things like an aging roof, outdated electrical panels, or non-functioning AC systems can make or break a deal.

You don’t have to renovate the home top to bottom, but basic repairs, a deep clean, and removing personal items will go a long way. A fresh coat of paint, landscaping touch-ups, and even staging can make the home more appealing and easier for buyers to envision as their own.

I often walk inherited property owners through a customized plan — focusing only on updates that deliver a return or reduce time on market.

Tax Implications and Capital Gains: What to Expect

Good news for sellers: when you inherit a property, the value is adjusted to the “stepped-up” market value at the time of the previous owner’s death. That means you’re only taxed on the difference between that value and the eventual sale price — not on the full appreciation since the home was first purchased.

Let’s say your parents bought the home in the 1980s for $80,000, and at the time of inheritance, it was valued at $320,000. If you sell it for $330,000, you’d likely only be taxed on the $10,000 gain, not the full $250,000 difference. Always consult with a tax professional to understand your specific situation, but in most cases, the capital gains impact is far less than expected.

Final Thoughts: A Home With History, and a Future

Selling an inherited home is never just a transaction. It’s a process that touches on memories, emotions, and the practical realities of real estate. Whether the home was your family’s anchor for decades or a distant relative’s rental property, the decision to sell is a personal one.

The key is having a plan and a trusted guide. From navigating probate timelines and preparing the property to understanding the market and maximizing value, I’m here to help every step of the way.

Ryan McAllister
Realtor®, Coldwell Banker Realty
📞 321-704-7103
🌐 RyanSellsBrevard.com
📧 Ryan.McAllister@cbrealty.com