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An estate home

Inherited or estate home

Sell, rent or keep an inherited home: what each choice means in dollars, split among heirs, with the steps in order.

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Change any number and everything updates. When it looks right, send it to Morgan.

The home

$
$
$
$
$
heirs

If you sell

%
mo

If you rent

$
%

The steps, in order

Show steps for
  1. Secure the home. Change or check the locks, keep utilities on, and tell the insurer the home may be vacant.
  2. Find the will or trust. Confirm who has the legal authority to act for the estate.
  3. Ask an estate attorney in the state where the home is whether probate is needed and how long it may take.
  4. Get a date-of-death value. An appraisal helps, and a tax professional can explain how that value affects taxes.
  5. Keep paying the mortgage, taxes and insurance so nothing lapses.
  6. Agree on a plan with the other heirs, in writing.
Selling nets about—
Each heir—

An estimate for planning, not an appraisal, a loan offer, or legal, tax or financial advice.

Behind the numbers

How it works

01

Sell

Price minus selling costs minus repairs minus the mortgage balance minus holding costs and mortgage payments for the months it takes to sell. Split evenly by the number of heirs.

02

Rent

Rent minus management and vacancy, minus holding costs and any mortgage payment, is the monthly cash flow. The first year also pays for the repairs.

03

Keep

Holding costs plus any mortgage payment, every month, for whoever keeps it.

04

Steps in order

The first six apply to every choice. Then pick sell, rent or keep for the rest.

Adjust it

What each input means

ValueA price opinion from Morgan or an appraisal.
Holding costsTaxes, insurance (a vacant home can cost more to insure), utilities, lawn and upkeep.
HeirsFor an even split. Your estate documents decide the real shares.

When to use it

Made for

  • Soon after a loss, when there is time to plan
  • Heirs in different places
  • Deciding between selling and renting
Part of a guided path

Selling

Know your number, prepare what actually pays back, and see exactly how Morgan will present and sell your home, before you decide anything.

  1. Home value
  2. Seller prep
  3. How Morgan sells it
  4. Your plan
About this path

Questions

Good to know

Do we need probate to sell?+

It depends on the state, how the home was titled and whether there is a trust. An estate attorney where the home is located can tell you.

Are there taxes when we sell?+

Possibly. The home’s value at the date of death often matters. Ask a tax professional before you sell.

Keep planning

Related tools

Before you listSeller net sheetWhat you walk away with after commissions, closing costs, credits, repairs and payoffs, line by line.Open →Before you listFix before sellingWhich repairs to do, skip or price in, from rough costs and values you enter. Saves as you go.Open →Buying to rentRental income checkRent, every cost and the cash flow left, with cap rate and cash-on-cash, before you make an offer.Open →

Want Morgan’s eyes on it?

Send your numbers and she will review them personally, with real figures for your area.

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