How to Sell an Inherited Home in Martin County

Inheriting a home in Stuart, Palm City, Jensen Beach, Hobe Sound or elsewhere in Martin County often comes at a hard time, and with a lot of questions. Who can sign? Does it have to go through probate? Should you fix it up or sell it as-is? This guide covers the basics so you know what to expect.

Wayne Gebhardt, Broker/Owner of HomeSaver Real Estate in Stuart, regularly helps families and personal representatives sell estate and inherited properties, including homes that need work, are full of belongings, or are being handled by family members who live out of state.

Step 1: Find out who has the legal right to sell

If the home was titled only in the name of the person who passed away, it usually has to go through probate in Florida before it can be sold. In probate, a judge appoints a personal representative (Florida's term for an executor) and issues Letters of Administration, the document that proves that person's authority to act for the estate.

Until that happens, no one, including the heirs, can normally sign a contract that a title company will close on. Some homes avoid probate, for example a home held in a living trust, owned jointly with rights of survivorship, or covered by a valid transfer arrangement. A probate attorney can tell you which applies.

Step 2: Know whether the home is "homestead"

If the home was the owner's primary residence, Florida's homestead rules can limit who inherits it and how it can be sold, especially when there is a surviving spouse or minor children. Homestead property is often treated differently from other estate assets. This is one of the most common reasons a sale gets delayed, so it is worth sorting out with the estate's attorney early.

Step 3: Formal or summary administration

According to The Florida Bar, summary administration is generally available when the probate estate (not counting exempt property such as homestead in many cases) is worth $75,000 or less, or when the person died more than two years ago. Larger estates usually go through formal administration. Either way, creditors generally have three months after notice to file claims, and the personal representative may need to sell real estate before the estate can be settled.

Step 4: Protect and prepare the property

• Insurance. Tell the insurance company the owner has passed away and whether the home is vacant. Many policies limit coverage on vacant homes.
• Utilities and security. Keep power and water on for showings and inspections, check the home regularly, and secure valuables and documents.
• Belongings. Decide what family wants before anything is cleared out. Estate-sale and cleanout companies can help.
• Repairs. Many inherited homes are sold as-is. Wayne can show you which small fixes might raise the price and which aren't worth it.

Step 5: Price it and sell it

Wayne prepares a market analysis based on recent Martin County sales, which helps the personal representative and heirs agree on a fair price. It can also support the estate's paperwork. He then lists and markets the home, handles showings for out-of-town families, and works with the estate's attorney and the title company through closing.

Common questions

Can I sell an inherited house before probate is finished?
Often yes, once the court has appointed a personal representative and issued Letters of Administration. The personal representative signs the sale. Depending on the will and the court, a court order may also be needed. Your probate attorney and title company will confirm what's required.

Do I have to fix up an inherited home before selling?
No. Many estate homes sell as-is. Florida sellers still have to disclose known problems that aren't easy to see, even in an as-is sale. See selling a house as-is on the Treasure Coast.

What if the heirs live out of state?
That's common. Wayne can handle showings, vendors and closing coordination locally, and many closing documents can be signed remotely.

This page is general information, not legal or tax advice. Wayne Gebhardt is a licensed real estate broker, not an attorney. Talk with a Florida probate attorney about your specific estate, and a tax professional about any tax questions.

Source for probate basics: The Florida Bar consumer pamphlet on probate.