What to Do First When You Inherit a Property: Essential Steps for Personal Representatives

Inheriting a property can feel overwhelming, especially if you're juggling multiple responsibilities, live out of state, or were unprepared for this transition.

As a personal representative (executor) in Florida, there are key steps you must take to secure, maintain, and evaluate the property before making decisions about its future.

I’m Michele Bellisari, a Certified Probate Specialist and Senior Real Estate Specialist (SRES) in South Florida. While I’m not an attorney, I specialize in helping sellers navigate inherited and probate real estate sales. Let’s break down the crucial first steps to take when you inherit a property.

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1. Secure the Property

If the home is vacant, securing it should be your first priority. Here’s what you need to do:

• Check all doors, windows, and locks to ensure everything is secure.
• Install a security system or activate an existing one. Consider a Ring doorbell or other surveillance cameras.
• Notify the Homeowners Association (HOA) if applicable, as they may have security patrols to monitor the property.

2. Keep the Utilities On

A common mistake heirs make is shutting off utilities too soon. This can cause serious issues:

• Electricity: Keeping the A/C running prevents humidity buildup, which can lead to mold—especially in Florida. Typically in South Florida that is FPL.
• Water and Gas: Ensure they remain functional if needed for inspections or maintenance.
• Bill Management: Check if utilities are set up for automatic payments to avoid service interruptions.

3. Assess the Financial Situation

Understanding the financial obligations tied to the property is crucial:

• Check for an existing mortgage. Is there a balance due? Are payments up to date?
• Review insurance policies. Does the current policy cover vacant properties? What are the terms during hurricane season (June 1 – Nov 30 in Florida)?
• Determine ongoing costs. Factor in taxes, HOA fees, and maintenance expenses.

4. Decide What to Do with the Property

This is one of the biggest decisions you’ll make. Ask yourself:

• Will you keep it? Some heirs choose to move in or use the property as a vacation home.
• Will you rent it out? If the property is in good condition, renting might be a profitable option.
• Will you sell it? If the home is a financial burden, out of state, or in a 55+ community where you don’t qualify to live, selling may be the best option.

5. Get a Market Evaluation

Before making a decision, know the property’s true market value.

• Comparative Market Analysis (CMA): A local real estate agent (like myself) can provide an in-depth CMA based on recent sales and market conditions.
• Professional Appraisal: If multiple heirs are involved, an official appraisal (typically $500-$600 in South Florida) can provide a neutral valuation.
• Understand Current Market Trends: Post-pandemic, homes are staying on the market longer—anywhere from 30 to 90+ days—so pricing strategically is key.

6. Plan for Selling and Preparing the Home

If you decide to sell, here are some things to consider:

• Handling Personal Belongings: From family heirlooms to furniture, you’ll need a plan for cleaning out the home. If you need moving supplies here is a link for some of those items.
• Deferred Maintenance: Does the property need repairs or updates before selling?
• Hoarding Situations: This is more common than you might think. If the home needs professional cleanout services, I can guide you through the process.

Final Thoughts: You Don’t Have to Navigate This Alone

Managing an inherited property can be stressful, but you don’t have to do it alone. While it’s essential to consult an attorney and financial planner for legal and financial decisions, I can assist with the real estate side of things.

If you’re considering selling an inherited or probate property, I’m here to help. Download my free guide in the link below, or reach out via call, text, or email for a personalized consultation.

For more on probate and inherited property tips click here!

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About Michele Bellisari

Michele Bellisari is the founder of #SoooBoca® Lifestyle & Media based in Boca Raton and a Realtor with Real Broker. If you are thinking of buying or selling real estate in Boca Raton and any of the surrounding cities let her help you out!

Thinking of purchasing a vacation home? Michele blogs, vlogs, posts and shares all things Boca Raton, South Florida & Beyond from events, people, food, travel, home decor, fashion, beauty and real estate!

You can find more at www.soooboca.com and on all the socials @soooboca. Information in this post should be verified with your accountant, attorney and or financial planner as well as the state of Florida. Information in posts should be verified independently. Information deemed reliable, not guaranteed. 

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