Selling an inherited house in New York & Connecticut

1. Confirm who has authority to sell

Nothing moves until the estate has a court-appointed representative. In New York, the Surrogate's Court in the decedent's county issues Letters Testamentary (if there is a will) or Letters of Administration (if not). In Connecticut, the local Probate Court issues a Certificate of Devise, Descent or Distribution plus a fiduciary certificate for the executor or administrator.

Once that authority is in place, the executor can sign a purchase contract on behalf of the estate. If title passed directly to named heirs (some jointly-held properties, small estates), every heir on title must sign.

2. Understand the stepped-up basis

This is the tax rule that makes selling an inherited home so different from selling one you bought yourself. Under IRC §1014, the property's cost basis is reset to the fair-market value on the date of death. If Grandma paid $60,000 in 1978 and the home is worth $420,000 the day she dies, your basis is $420,000 — not $60,000.

Sell for approximately date-of-death value and you typically owe little or no federal capital-gains tax. New York and Connecticut both conform to the federal stepped-up basis for state income tax on the sale itself. A qualified appraisal at date of death is the cleanest way to document that basis; keep it.

We're not tax advisors — confirm with a CPA before signing. But this is the single biggest reason inherited-property sales are usually more forgiving than sellers expect.

3. Decide: keep, rent, list, or cash sale

A traditional listing may net more on paper, but with an inherited home it often doesn't in practice. Empty houses accrue carrying costs (taxes, insurance, utilities, lawn care), showings require the home to be cleaned out first, and inspection findings on older properties routinely trigger price reductions or credits. Every month of holding also thins co-heirs' patience.

A direct cash sale trades some upside for certainty: no repairs, no showings, no financing contingency, and one signature per heir at closing. It's usually the right call when the house is dated, the heirs live out of state, or the family wants a clean split without months of coordination.

4. When there are multiple heirs

Disagreement between heirs is the most common reason inherited-property sales stall. A cash sale simplifies that in three ways:

• One price, one date. No listing-price debates, no counter-offer back-and-forth, no "let's try $10k higher for two weeks."
• No repair negotiations. We buy as-is, so no heir has to fund a new roof or septic before closing.
• Clean disbursement. Proceeds go to the estate account and are distributed per the will or intestacy shares. No one is stuck managing the property while others wait.

5. Timeline expectations

With authority in place, we typically close in 14–30 days. If probate is still open, we can execute a contract now and set closing for the day authority issues. We cover standard closing costs; you walk away with a wire, and the executor closes out the estate.

6. What to gather before you call

• Copy of the death certificate
• Copy of the will (if any) or notice of intestacy
• Letters Testamentary / Letters of Administration / CT fiduciary certificate (if issued)
• Most recent property tax bill
• Names and contact info for all heirs
• Any mortgage, HELOC, or lien payoff statements you have

Missing pieces are fine — we've closed on properties where the executor had nothing but the address. We'll fill in what's needed through title.

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