You just inherited a house. Here's what to do in the first 90 days.
The decisions you make in the first few months after inheriting a property have lasting financial consequences. Start here.
What actually needs to happen first.
Do immediately
- Secure the property
- Switch to vacant-property insurance
- Locate the mortgage info
- Find the will or trust
- Notify utilities and the post office
Can wait 30–60 days
- Decide: sell, keep, or rent
- Accept any offers
- Make repairs (or skip them)
- Distribute personal property
Tax moves to make
- Get a date-of-death appraisal
- Confirm probate requirements
- Consult a tax professional before selling
- Document the stepped-up basis
Sell, keep, or rent — the honest breakdown.
Sell
Fastest path to liquidity. No ongoing costs. Tax-efficient if sold soon.
- Closes in 10–21 days
- No carrying costs
- Stepped-up basis minimizes tax
Keep as a residence
Preserves the family home but requires title transfer and ongoing costs.
- Title must transfer
- Mortgage may need refinance
- Long-term carrying costs
Rent it out
Generates income, but comes with landlord responsibilities and tax implications.
- Tenant management required
- Depreciation rules apply
- Different tax treatment on sale
The tax rule that changes everything for inherited property.
The step-up in basis resets the property's tax basis to its fair market value at the date of death. Decades of appreciation are wiped out for capital-gains purposes — and if you sell soon after inheriting, your taxable gain is often near zero.
Mom bought the house in 1985 for $80,000. At her passing in 2026, fair market value is $420,000. You sell six months later for $425,000. Taxable capital gain = $5,000 — not $345,000.
Find out what your inherited house is worth — free, no obligation.
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Get My Free OfferThis is an illustrative estimate only. Actual offers depend on property condition, local market conditions, and due diligence. No offer is binding until a formal written agreement is signed by both parties.
