Inherited a Property in Florida?
Here's How to Sell It Fast

Inheriting a property in Florida is often bittersweet. Along with grief comes a flood of practical questions: Do I need to go through probate? What are the tax consequences? Can I sell it as-is? This guide walks you through every step — clearly and honestly.

Step 1: Determine Whether Probate Is Required

Not every inherited Florida property requires formal probate. How the property was titled at the time of death determines your path:

• Jointly titled with right of survivorship: The property passes directly to the surviving owner with no probate needed. A death certificate and an Affidavit of Continuous Marriage (if applicable) are typically sufficient.
• Transfer on Death (Lady Bird) Deed: Florida recognizes the enhanced life estate deed, also called a “Lady Bird Deed.” The property transfers automatically to the named beneficiary upon death — no probate, no court involvement.
• Trust-held property: Property titled in a revocable living trust avoids probate entirely. The successor trustee takes control immediately and can sell the property without a court order.
• Titled in the deceased's name alone: Probate is required. The estate must pass through the Florida circuit court system before title can be transferred.

Step 2: Understand the Florida Probate Process

Florida has two main types of probate for real property:

Formal Administration

Required when the estate's non-exempt assets exceed $75,000 or when the deceased died less than two years ago. A personal representative (executor) is appointed by the court to manage the estate. Formal administration typically takes 6 to 12 months, though contested estates can stretch longer. A Florida-licensed probate attorney must represent the estate — this is not a process you can navigate alone.

Summary Administration

Available when non-exempt assets are $75,000 or less, or the decedent has been dead for more than two years. Summary administration is faster — often completed in 2 to 4 months — and less expensive. It does not require a personal representative.

Once probate closes and title is clear, the personal representative or heir has full authority to sell the property. If you're in the middle of probate and need to sell, a cash buyer can often work with your probate attorney to structure a contract that closes immediately upon court approval.

Step 3: Know Your Tax Obligations

No Florida Estate Tax or Inheritance Tax

Florida does not impose a state estate tax or an inheritance tax. This is one of the significant advantages of inheriting Florida real estate. However, federal estate taxes may apply if the total estate value exceeds the federal exemption threshold (currently $13.61 million per individual in 2024).

Capital Gains and the Stepped-Up Basis

This is the most important tax concept for inherited property. When you inherit a home, the IRS resets your cost basis to the fair market value on the date of death — this is known as the “stepped-up basis.”

Practical example: Your parent bought a home in Fort Lauderdale in 1985 for $80,000. It is worth $420,000 when they pass away. Your stepped-up basis is $420,000. If you sell the home for $425,000, your taxable capital gain is only $5,000 — not the $340,000 gain your parent would have owed. This often means selling quickly after inheriting results in minimal or zero capital gains tax.

Property Tax Implications

Florida's homestead exemption provides significant property tax savings for primary residents. However, the homestead exemption does not automatically transfer to heirs. If you inherit a property and do not intend to make it your primary residence, expect the assessed value to increase toward full market value at the next reassessment.

Step 4: Assess the Property's Condition

Inherited homes are frequently older properties that have not had recent updates. Common issues include deferred maintenance, outdated electrical or plumbing systems, HVAC equipment past its useful life, and cosmetic wear from years of occupancy. Before deciding on your sale path, you need an honest picture of the property's condition.

You have three realistic options:

• Repair and renovate, then sell on the traditional market. Highest potential sale price but requires significant time and capital upfront — often $30,000 to $100,000+ for major renovations.
• List as-is with a real estate agent. You may attract buyers willing to negotiate, but expect lower offers and a longer time on market. Buyers will still request an inspection and use findings to renegotiate price.
• Sell as-is to a cash buyer. No repairs, no inspections, no financing contingencies. Cash buyers like We Help Florida Sellers can close in as few as 7 to 14 days — often before carrying costs and property taxes erode your proceeds.

Why Cash Buyers Are Often the Best Choice for Inherited Homes

Time is money when you inherit a property. Every month the home sits carries costs: property taxes, homeowners insurance, utilities, HOA fees (if applicable), and maintenance. On a $350,000 South Florida home, carrying costs can easily run $1,500 to $2,500 per month. A 6-month traditional sale process could cost you $9,000 to $15,000 in holding costs alone — before factoring in agent commissions of 5 to 6%.

Cash buyers eliminate carrying costs, agent commissions, repair expenses, and the uncertainty of financing contingencies. The net proceeds are often comparable to or better than a drawn-out traditional sale — and the process is dramatically simpler when you are already managing probate.

Florida-Specific Considerations

• Homestead property and the 50% rule: Under Florida law, a surviving spouse is entitled to a life estate in the homesteaded property. If children are also heirs, this can complicate a sale — all parties must agree.
• HOA approval: Many South Florida communities require HOA approval of new owners. A cash buyer experienced in the Florida market will be familiar with this process.
• Code violations: Older inherited properties sometimes have open code violations or unpermitted work. Cash buyers typically purchase properties with existing violations, whereas traditional buyers often walk away.
• Environmental issues: Properties near water or with older construction may have concerns including mold, Chinese drywall, or lead paint. Selling as-is to a cash buyer avoids the protracted negotiation these issues trigger in traditional sales.

How to Get Started

If you've inherited a Florida property and want to understand your options, here is the fastest path forward:

1. Confirm the title situation and determine whether probate is underway or required.
2. Get a professional opinion on the property's current market value in its as-is condition.
3. Request a no-obligation cash offer — this gives you a clear baseline for comparison.
4. Consult with a Florida probate attorney if the estate is in formal administration.
5. Make a decision with full information, not under pressure.

Inheriting a property doesn't have to be overwhelming. With the right guidance and a buyer who understands Florida's probate process, you can close quickly, minimize taxes, and move forward with confidence. Our team at We Help Florida Sellers works with heirs at every stage of the probate process — just give us a call.