Complete Guide: Selling an Inherited House

Selling an Inherited House in Indiana

Inheriting a house comes with responsibilities and decisions. Here's what you need to know:

Step 1: Determine Ownership

First, confirm how the property was titled. If it was in a trust or had transfer-on-death deed, probate may not be required. Otherwise, the estate must go through probate.

Step 2: Understand Probate

Indiana probate typically takes 6-12 months. During this time, the executor manages the property. You can often sell during probate with court approval.

Step 3: Assess the Property

Evaluate the property's condition. Many inherited homes need significant work, especially if the previous owner was elderly or ill.

Step 4: Decide What to Do

Your options include: keep the property, rent it out, sell traditionally, or sell for cash. Each has pros and cons depending on your situation.

Tax Considerations

Inherited property receives a "stepped-up basis," meaning you're only taxed on gains since the date of death, not the original purchase price. Consult a tax professional for your specific situation.

Selling for Cash

We buy inherited properties in any condition. No repairs, no cleaning, no hassle. We can even help coordinate with multiple heirs.