Inherited or Probate Properties

Probate Porperties? We'll make it easy

Selling a Home That Was Inherited With Our Help

We specialize in helping people that have inherited houses and are going through the probate process. Our goal is to ensure a seamless transition and help you make informed decisions about your inherited property. Our team of experts will assist you in navigating the legal complexities of probate and will buy your inherited house as quickly and efficiently as possible.

We understand that selling an inherited property can be an emotional and sensitive matter, which is why we’ll provide you with the support and guidance you need throughout the entire process. If you’ve inherited a house and are considering selling it, contact us today.

Selling Inherited Property


 

Inherited Property in Florida: FAQs on Selling & Taxes

If you’ve recently inherited a house or property in Polk County, you probably have questions. Get quick answers to some of the most common queries

Sell my house Winter Haven Florida

There is no inheritance tax in Florida. However, you may owe capital gains tax if you sell the property for more than your tax basis (typically the property’s value when inherited).

No, there is no strict time limit for selling an inherited property in Florida. However, it’s generally advisable to sell sooner if the intent is to avoid potential capital gains taxes from the property appreciating in value over time.

Yes, if multiple people inherit a property, each individual owner has the right to sell their share or percentage of ownership in the property. This may require working with the other co-owners.

If there is an outstanding mortgage, you have a few options: pay off the mortgage balance owed, continue making payments, attempt to assume the existing loan, or refinance into a new mortgage. Outstanding mortgages must be resolved before selling.

You can sell an inherited property once you officially obtain ownership after the probate process is complete, which typically takes 6-9 months in Florida. With a revocable trust or joint tenancy, you may be able to sell sooner by avoiding probate.


 

What to Expect When Selling an Inherited Florida House: Documents, Obstacles & Taxes

Selling an inherited property in Florida involves several key considerations across documentation, challenges, and taxes.

Documents Needed for Selling an Inherited Property

  • Photo ID
  • Seller Disclosure
  • Property Title Records
  • Proof of Ownership
  • Property Tax Records
  • Death Certificate of the Deceased

Taxes on Selling an Inherited Property in Florida

  • Transfer Tax
  • Property Tax
  • Estate Tax
  • Inheritance Tax (None in FL)
  • Capital Gains Tax

Be prepared with the required legal documents, such as proof of ownership, and be aware of potential challenges, including disagreements among multiple heirs, existing mortgages, and the property’s condition. Taxes such as transfer, property, estate, and capital gains may also apply when selling an inherited Florida home. Consulting professionals like Lincoln Madison Investments can help navigate the process smoothly.


 

Selling Inherited Property Stuck In Probate

If one of your relatives has passed away, you will need probate to be able to sell any properties that were solely owned by the deceased. Probate is a very tense process that requires care so everything goes smoothly. If your inherited property is stuck in probate, Lincoln Madison is here to help make things easier.

Methods to Avoid Florida Probate Court

  • Create a Revocable Living Trust to bypass probate
  • Use Joint Ownership with Right of Survivorship
  • Utilize a Lady Bird Deed for direct transfer upon death
  • Skipping probate can save significant time and legal costs

Steps to Take After Inheriting Property in Florida

  • Complete the Probate Process (6-9 months) to legally obtain ownership
  • Get the Property Professionally Inspected/Appraised
  • Pay Off Any Outstanding Mortgages, Liens or Debts
  • Determine Whether to List with an Agent or Sell Direct to a Cash Buyer

 

Probate Properties FAQ’s

Lincoln Madison Investments is the most trusted real estate investor & broker in Lakeland, Winter Haven, Davenport, Ponciana, Hanes City & Polk County Florida.

Probate, Lakeland probate properties

Probate is a court-supervised process for locating and collecting the belongings of a  person that’s passed away (decedent), paying off their debts, and releasing their belongings to their beneficiaries.

Yes, you can! Selling a house in probate can be a bit more difficult than selling a regular house, but we’re here to help and make the process much easier!

Believe it or not, you don’t have to wait until the probate process is finished before selling the house. Florida law actually allows heirs to sell before the probate process is completed.

Everybody’s situation is different but, generally speaking, from start to finish, the whole process can take 6 to 9 months. The actual sale, once a buyer is found, can take 3 to 5 weeks.


 

Are you looking to sell your probate property? Contact us!

Have questions about probate house sales? Our friendly and knowledgeable licensed agents are available to serve you 7 days a week. We are local, headquartered in Lakeland. Please fill out the form below to get in touch with us.

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    Lincoln Madison Investments
    863-521-0549
    5337 N Socrum Loop Road Suite 463
    Lakeland, FL 33809


     

    Sell Probate Property in Lakeland, Winter Haven, Poinciana, Davenport, & Polk County Florida

    Our passion is buying homes and helping homeowners navigate the probate process so they can move on to the next chapter.

    Let us help you with your probate property! We’re local, have more than 15 years of experience & have bought & sold over $100 million of real estate in Polk County.

    Areas We Serve: Probate Property Services

     

    • Davenport
    • Lakeland
    • Polk City
    • Winter Haven
    • Haines City
    • Frostproof
    • Bartow
    • Lake Wales
    • Auburndale
    • Mulberry

    Our Services

     

    Our passion is buying homes and helping homeowners move onto the next chapter.

    Contact us now to get a free/no commitment offer.


    Distressed Homes
    Looking to sell an old home? We can help you.


    Probate Properties
    Property stuck in probate? We’ll make it easier.


    Tax Deed
    We can buy your lien property. No hassle.


    Sell your home fast
    Let us handle the stress while you relax.


    Tenant issues
    We can streamline the eviction process.


    Vacant land
    We can give you an offer for your vacant land!

    Why Choose Us

    We’re local, headquartered in Lakeland.

    More than 15 years of experience.

    Over $100 million of real estate bought & sold.

    Inherited or Probate Properties Articles

     

    What is Probate in Florida

    What is Probate in Florida

    If one of your relatives has passed away, you will need probate to be able to sell any assets that were solely owned by the deceased, such as: vehicl