The gross price is not the number that matters. What the estate actually nets is.
Certain items are ordinarily the seller's or the estate's regardless of who buys: property taxes up to the closing date, any mortgage or lien payoff, HOA arrears, and in some states a transfer tax. These come out of proceeds at closing. Exactly what's customary varies by state and is something the title company or the estate's attorney will confirm for your specific closing.
We're not going to claim a direct cash offer matches what a renovated house fetches on the open market. It doesn't, and any buyer who tells you otherwise is selling something. Here's the actual trade, laid out:
Higher gross price. Then subtract: agent commission on both sides, pre-listing cleanout or estate-sale costs, repairs and paint, staging, the buyer's inspection credits, and every month of taxes, insurance, and utilities from the day you inherit until the day it closes. Add travel if you're out of state, plus the risk that a financed buyer falls through and you restart.
Lower gross price. Then subtract: essentially nothing. No commission, no repairs, no cleanout, no staging, no inspection retrade, no carrying costs beyond closing, no travel. What you're paid is close to what the estate keeps, and you know the figure before you commit to any work.
Which one wins depends entirely on the property. A tidy, updated house in a strong market with a local heir who can manage a listing should be listed. A full, dated, vacant house with four out-of-state heirs and an open probate case usually shouldn't be. Most of what we buy is firmly the second kind.
People often assume they'll owe tax on the full sale price of an inherited house. That's frequently not how it works, because inherited property is generally treated differently from property you bought yourself — but the specifics depend on the estate, the property, your state, and the timing.
Please do not take tax planning from a website, including this one. Talk to a CPA or tax attorney before you sell. It's usually a short, inexpensive conversation, and it's the single most valuable professional call most heirs make.
A written offer costs you nothing and gives you a real figure to compare a listing against.
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