Selling an Inherited House in Florida: Probate, Taxes, and Your Options

You Inherited a House in Florida — Now What?

Inheriting a property in Florida can feel overwhelming, especially if you live out of state or the home needs significant work. Between probate proceedings, property taxes, insurance, HOA fees, and maintenance costs, an inherited house can quickly become a financial burden rather than a blessing.

Step 1: Understand the Probate Process

Florida probate is the legal process of transferring a deceased person's assets to their heirs. There are two types:

• Summary Administration — For estates under $75,000 or when the decedent has been dead for more than 2 years. This is faster and simpler.
• Formal Administration — For larger estates. Requires appointing a personal representative, notifying creditors, and court supervision. Takes 3-12 months.

If the property was held in a living trust or had a lady bird deed (enhanced life estate deed), you may be able to skip probate entirely.

Step 2: Know Your Tax Situation

The good news: Florida has no state income tax. For federal taxes, inherited property receives a "stepped-up basis" — meaning the property's cost basis is adjusted to its fair market value at the date of death. If you sell soon after inheriting, there's often little or no capital gains tax.

Example: Your parent bought the home for $100,000 in 1995. At the time of their death, it's worth $300,000. Your stepped-up basis is $300,000. If you sell for $300,000, you owe $0 in capital gains. If you sell for $320,000, you only owe capital gains on the $20,000 difference.

Step 3: Decide What to Do with the Property

You generally have three options:

Keep It: Move in or rent it out. This makes sense if the home is in good condition and in a desirable area. Consider the ongoing costs: mortgage (if any), insurance (Florida insurance is expensive), property taxes, HOA fees, and maintenance.

List It with an Agent: If the home is in sellable condition, an agent can list it on the MLS. Expect 45-90+ days to sell, plus 5-6% in commissions and potential repair costs.

Sell It for Cash: If the home needs work, you live far away, or you simply want to move on quickly, selling to a cash buyer is often the best choice. At Enko Home Buyers, we purchase inherited Florida properties in any condition — we handle the repairs, the cleanout, and the closing costs.

Common Challenges with Inherited Florida Homes

• Insurance gaps — Florida requires active homeowner's insurance. If the policy lapsed after the owner's death, getting new coverage can be difficult and expensive.
• Deferred maintenance — Many inherited homes haven't been updated in decades. Roof, HVAC, plumbing, and electrical issues are common.
• Multiple heirs — If siblings or family members share ownership, disagreements about what to do can delay everything. A cash sale provides a clean split.
• Out-of-state heirs — Managing a Florida property from another state is expensive and stressful. Cash sales can be handled remotely.
• Outstanding liens — Property tax liens, HOA liens, or contractor liens may exist. Cash buyers can work through these at closing.

Sell Your Inherited Florida Home Fast

Whether your inherited property is in Sarasota, Tampa, North Port, or Venice, Enko Home Buyers can make you a fair cash offer within 24 hours. No repairs, no cleaning, no agent fees. Contact us at alex@enkohomebuyers.com for a free consultation.