How to Sell an Inherited Property in New York

2. Confirm where the mortgage stands

The next step is to confirm the status of the mortgage and any other outstanding liens attached to the inherited property, such as a home equity loan, or HELOC. This can be done through a standard title search, which will discover any debts or claims against the house and land, including unpaid taxes.

Again, you may be pushing a timeline and tempted to get the home listed right away, but doing so can create headaches for both you and any potential buyer who makes an offer. If you have questions about liens or whether the title can be legally transferred to you before the home sale, present these to your attorney now.

3. Anticipate your ownership timeline

If the property is subject to probate, the process must be wrapped up before you can legally sell it. In New York, probate timelines can vary based on the complexity of the estate, but typically, it takes seven to nine months to complete.

Until a NY court confirms that you are the new rightful owner of the inherited property, you should not sign a listing contract or publically market the home. Listing prematurely can create legal issues and delay or cancel a sale.

If the property is held in a living trust or life estate deed, your ownership timeline will likely be faster because court approval may not be required.

4. Select an executor (if there are multiple heirs)

If the inherited property has co-heirs, you’ll need to appoint an executor (also known as a personal representative) to oversee its sale. In some cases, the deceased homeowner has already named an executor in their will. If not, the co-heirs must all agree and legally name someone to handle key responsibilities, such as paying bills, managing paperwork, and working with the Realtor.

The selected executor should be emotionally and practically equipped to handle these fiduciary duties, which can be time-consuming.

5. Open an estate account to manage funds

You may be tempted to use your own — or the deceased’s — exiting bank account to move and distribute money during this process. However, setting up a dedicated estate account keeps everything transparent and clearly separated and documented. This can help prevent family disputes and streamline the process of paying any debts and home-selling expenses.

This same account can also hold proceeds from the home sale and show a record of how those funds were distributed after all is said and done. This step can help you avoid or resolve some of the most common disputes among family members.

6. Determine the value of the property

While this next step will add a small expense, hiring a reputable appraiser can put everyone at ease regarding the property’s market value and the home’s listing price. The average cost of a home appraisal in New York ranges from $350 to $550.

Another good option to estimate the home’s value is to ask a real estate agent for a comparative market analysis (CMA). This comprehensive report compares the recent selling prices of similar nearby properties, called “comps.” Many agents will provide a free CMA when you meet with them for a consultation.

For a ballpark estimate today, try HomeLight’s Home Value Estimator. This free tool uses housing market data from multiple trusted sources to predict your home’s current value.

7. Select a selling method that fits your needs

It’s time to decide the best way to sell your inherited property in New York. Do you want to take the traditional open-market route using a real estate agent or a faster, easier route by selling to a New York cash home buyer? Here’s a look at both options:

• New York cash homebuyer: If you need speed and convenience, selling to a cash buyer can be quick — even as fast as seven to 10 days. You’ll receive a lower sale price, but this option lets you skip repairs, staging, showings, and drawn-out negotiations. A cash offer solution is especially helpful if the home needs a lot of work, if you need sale proceeds sooner, or if you’re trying to manage everything from out of state.
• Top New York real estate agent: If proceeds are a priority, partnering with a top New York real estate agent is typically the best choice. A seasoned agent can guide you on what to fix — and what not to fix. They will price and market the property to get the highest possible offers. HomeLight data shows that the top 5% of agents sell homes for as much as 10% more than average agents.

Get a no-obligation cash offer in 24 hours: HomeLight’s Simple Sale platform will connect you to the largest network of trusted cash buyers in the U.S. With Simple Sale, you close in as few as 10 days.

Find a top-rated New York agent: HomeLight’s free Agent Match platform analyzes 27 million transactions and thousands of reviews to determine which New York agent is best for you based on your needs.

8. Consider hiring a mediator

When selling an inherited house in New York, you may run into situations when co-heirs or family members don’t see eye-to-eye on how to handle the property. For example, one family member might not want to sell the house due to strong sentimental or emotional attachments. Another may have other ideas about how much repair work to do or the home’s list price.

If co-heirs cannot agree on important decisions, you may want to hire a mediator to help resolve disputes. An impartial professional can lead discussions about the property’s price, repairs, and the distribution of sale proceeds. Hiring a third-party mediator now can often help everyone avoid hiring their own attorneys later.

Partner with a Top New York Agent

Connect with a top-performing real estate agent in New York State. HomeLight analyzes over 27 million transactions and thousands of reviews to find you the best agent for your home-selling situation.

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9. Donate, sell, or discard unwanted items

Inherited homes tend to come with unwanted belongings. If you’re selling on the open market, cleaning and decluttering will be a big part of your preparations. According to a nationwide HomeLight survey of 1,000 top agents, cleaning out the clutter can help a house sell for as much as $8,000 more, on average.

10. Prepare the property for sale (if listing)

Work with your agent to decide which repairs or updates will attract buyers and the highest offers. Focus on cost-effective improvements that make the house stand out. New York buyers often appreciate turnkey properties (move-in-ready homes), so even minor repairs can make a big difference.

Here are some high-impact preparations that can increase the home’s curb appeal so it will sell faster and for the most money:

• Hire a professional landscaper to beautify outdoor areas.
• Add fresh mulch and brightly colored flowers.
• Paint the front door (or replace it altogether)
• Spruce up the entryway for a positive walk-in impression.
• Clean or replace worn or dirty carpets.
• Remove scuff marks from floors.
• Replace tattered drapes and broken blinds.
• Fill wall holes and cracks so they’re ready for painting.
• Paint interior walls in neutral light colors (high ROI investment).
• If needed, paint exterior areas, even if just the trim.
• Replace or repair broken fixtures (e.g., l knobs, handles, lights).
• Fix faucet drips and apply fresh caulk where needed.
• Deodorize the home if necessary (especially if pets or smokers lived there).

11. Sell your inherited New York property

Once the house is prepared, your agent will help you price, list, and market the property to buyers. Your agent’s marketing plan should include high-quality photos, open house events, showings, and social media posts. Tech-savvy agents will also include virtual tours, video walkthroughs, and drone images.

Your agent will handle all the paperwork and provide guidance about required state and federal disclosures. Partnering with an expert will streamline the process — from negotiations to closing.

If you decide that you need a fast sale, HomeLight’s Simple Sale can provide a cash offer in 24 hours. To get started, answer a few questions about your inherited New York property and selling timeline.

Ready to sell your inherited property in New York?

Selling an inherited property in New York might initially feel overwhelming, but with the right plan and expert support, you can find success — and some closure. Whether you’re facing probate proceedings, coordinating with co-heirs, or just want to get the most proceeds and move on, following these 11 steps can make a big difference.

If you need more help — even if you’re early in the process — contact a top New York real estate agent through HomeLight’s Agent Match platform. A trusted local agent can guide you through the process, offer real-world advice, and help you figure out the best timeline.

Or if you need a fast, streamlined home sale, HomeLight’s Simple Sale platform can provide a no-obligation all-cash offer so you can close in as few as 10 days.

Editor’s note: This post is for educational purposes. If you need help navigating the legalities of selling an inherited property in New York, HomeLight encourages you to consult a professional advisor.

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