My Parents Left Me Their House. Do I Have to Sell It? | Georgia Inherited Property Guide

Your parents left you a house after they passed away. Now you’re wondering what to do with it. Do you have to sell it, or can you keep it?

Well, the answer is… maybe, maybe not!

I’m Brad, the Probate House Guy. Over the last 10 years, I’ve helped more than 300 sellers get their properties sold, whether through a cash sale or by listing their homes the traditional way. I’ve also learned quite a bit about probate, inherited properties, and the challenges families face when settling an estate.

If you’ve inherited a house in Georgia, you may have several options. You could keep it, buy out your siblings, rent it out, or sell it. The right decision depends on your finances, your family’s wishes, and the costs associated with owning the property.

Let’s dig into some of the things you should consider before deciding what to do with your inherited house.

Do You Have to Sell an Inherited House?

First, let’s assume you’ve already gone through the probate process. If you haven’t, you may need to complete probate before you can do much with the property, unless your family had a properly established living trust that allows the property to pass without probate.

I’m not going to get too deep into the probate process here. I’ve got other videos that cover that topic. Today, let’s focus on what happens after you’ve inherited a house from your parents.

The first question is simple: Do you actually want to keep the house?

Maybe it’s the home you grew up in. Maybe you want to live there, or perhaps you see an opportunity to turn it into a rental property.

Whatever your plans are, there’s something important you need to figure out first: Are there other heirs involved, and are they on board with your decision?

What If Your Siblings Want to Sell the Inherited House?

Let’s say you and your sibling inherit a house together, and each of you owns a 50% share.

You want to keep the house, but your sibling wants to sell it. What happens now?

Well, you’ve got a problem to work out.

In many cases, the sibling who wants to sell simply wants their share of the money. They don’t want to deal with the property, pay the expenses, or take on the responsibilities that come with homeownership. They want their 50% and they want to move on with their life.

And honestly, that’s understandable. Not everybody wants to own a house, especially when it comes with responsibilities and expenses.

But what if you want to keep it?

Option 1: Buy Out Your Sibling’s Share

One option is to buy your sibling out. This happens all the time, and it doesn’t necessarily mean you have to come up with the entire purchase price out of pocket.

Let me give you an example from my own family.

My grandfather recently passed away, and our family has been going through the probate estate process. He had two vehicles: a Toyota Tundra and a Nissan Altima.

I’m a Toyota guy. I love Toyota trucks. My grandfather bought his Tundra brand new in 2006, and it only had about 20,000 miles on it. That thing was a mint specimen of a truck!

You’re probably thinking, “Brad, why don’t you take it?”

Well, first of all, I don’t think my wife will let me have any more vehicles. We already own four, and they’re all four-wheel-drive vehicles. I’m just weird about trucks and SUVs that aren’t four-wheel drive.

Second, I already have my own Toyota Tundra. I’ve had it for almost 12 years, it’s got over 200,000 miles on it, and I have no desire to get rid of it. I love that truck!

So, here’s what my family is doing.

My aunt is planning to take the Nissan Altima, and my dad is planning to take the Tundra. They have another sister, so the three siblings need to account for their respective shares of the estate.

Instead of selling both vehicles and splitting the proceeds three ways, they’re arranging things so that the siblings taking the vehicles account for the value of their sisters’ shares. My dad, for example, would be entitled to one-third of the Tundra’s value if it were sold, so the other shares need to be accounted for as part of the estate settlement.

The point is that family members don’t necessarily have to sell an inherited asset just because multiple heirs own it. They may be able to work out an arrangement that allows one person to keep it while the others receive their fair shares.

You can apply the same idea to an inherited house.

If you want to keep the property, you may be able to buy out your sibling’s ownership interest rather than selling the entire house.

Option 2: Get a Mortgage to Buy the House

Now, you might be thinking, “Brad, I don’t have that kind of money. How am I supposed to buy out my sibling?”

One possibility is to get a mortgage to purchase the property. Depending on the circumstances, you may be able to finance the purchase and use the proceeds to pay the other heirs for their interests.

There may also be situations where an heir can purchase the property from the estate under terms the family agrees to, depending on the will, the estate’s other assets, and the applicable legal requirements.

For example, let’s say the house is worth $300,000. You and your siblings might explore an arrangement in which you purchase it for $200,000, provided the other heirs agree and the transaction is legally permissible.

That doesn’t mean every family can make this kind of arrangement. The details matter, and you need to work through the numbers and legal requirements with the appropriate professionals.

But it may be worth exploring before you decide that selling is your only option.

Need Help Deciding What to Do With an Inherited House?

If you’ve inherited a house in Georgia and are trying to figure out whether to keep it, buy out your siblings, or sell it, we’d be happy to talk with you about your options. Simply fill out the form on this page, and a member of our team will be in touch with you as soon as possible.

Don’t Move Into an Inherited House Without Settling Things With the Other Heirs

Here’s something I want you to pay attention to.

Over the years, we’ve seen families get into serious trouble because one heir simply moves into an inherited house without properly working things out with the other heirs.

Maybe you think, “It’s my parents’ house. I’m going to live here.”

But what if your siblings are entitled to a share of the property? What if they want to sell it and receive their money?

If you move in without reaching an agreement, things can get ugly. We’ve seen situations where family members have had to take legal action to get other family members out of an inherited property.

That’s a mess nobody wants to deal with.

So, if you want to keep the house, work out an agreement with the other heirs. Figure out how their interests will be handled and how you’re going to pay them if a buyout is the plan.

Don’t assume that moving into the house automatically resolves the ownership situation.

Should You Keep an Inherited House as a Rental Property?

Maybe you don’t want to live in the house yourself. Perhaps you’re thinking about keeping it as a rental property.

That could be an option, but I want you to be honest with yourself about something: Do you really want to be a landlord?

Owning rental properties can be rewarding. It can be fun, and it can work out great. But it’s not all sunshine and rainbows and sitting back while collecting checks out of your mailbox.

That’s just not the reality of owning rental properties.

Sometimes things go smoothly. Other times, things can get very difficult. You get one bad tenant, and it’ll ruin your view of humanity. I’ll say that much!

So, before you decide to keep an inherited house as a rental, think about whether you’re prepared to take on the responsibilities that come with being a landlord.

You also need to consider whether the other heirs want to participate in owning the property or would rather receive their share of the inheritance and move on.

Can Multiple Heirs Keep an Inherited House Together?

What if all the siblings want to keep the property?

In that case, you may be able to explore owning it together. Depending on your circumstances, you could consider purchasing the property and placing it in an appropriate legal entity, such as an LLC.

For example, the property might be transferred from the estate to an LLC, with the family members owning interests in that entity.

Of course, you need to talk to an attorney about whether this arrangement makes sense for your family and how it should be structured.

It’s important to work out the details rather than assuming that everyone will always agree about what happens to the property.

I remember a deal we worked on a few years ago that involved a family with a pretty interesting plan.

The will directed the children to sell the estate’s assets, including rental properties, and use the money to purchase a beach house. The idea was for the family to own the beach house together so the children and their families could enjoy it over the years.

They could also decide whether they wanted to rent the beach house out.

I thought that was a pretty cool idea. Instead of keeping all the original assets, they wanted to turn the proceeds into something the whole family could enjoy.

Of course, shared ownership can lead to disagreements, too. But it shows that families may have different options when deciding what to do with inherited real estate.

When Should You Sell an Inherited House?

So far, we’ve talked about ways you might be able to keep an inherited property. But sometimes, selling really is the most practical option.

Let’s talk about why.

1. You Can’t Afford the Mortgage

If there’s a mortgage on the inherited house, somebody needs to figure out how it’s going to be paid.

If you and your siblings can’t afford to keep up with the mortgage payments, selling the property may be in your best interest.

I know you might really want to keep the house. Maybe it has sentimental value, or maybe you see potential in it as a rental property.

But if you can’t afford to keep it, you need to be realistic about your options.

2. Property Taxes and Maintenance Are Too Expensive

The mortgage isn’t the only expense you need to consider.

What about property taxes? What about repairs, maintenance, and all the other costs that come with owning a house?

These expenses don’t go away just because you’ve inherited the property.

You need to ask yourself whether you have the financial means to cover those costs year after year. If the house needs significant work, are you prepared to pay for it?

And if you plan to rent it out, are you ready to handle the responsibilities that come with being a landlord?

If the numbers don’t work, selling the inherited house may be the better choice.

3. Your Family Can’t Agree on What to Do

Family dynamics can make inherited property decisions complicated.

You may want to keep the house, while your siblings want to sell. One person might want to rent it out, while another doesn’t want to deal with the property at all.

These disagreements can become difficult, especially when money and family relationships are involved.

That’s why it’s important to understand everyone’s goals and work through the available options before making a decision.

Whether you decide to keep the house or sell it, you need to consider the financial realities and the interests of everyone involved.

Should You Sell Your Inherited House for Cash or List It Traditionally?

If you’ve decided that selling your inherited property is the best option, you still have a choice in how you sell it.

Here in Georgia, we’ve been buying properties for more than 10 years, and I’ve purchased hundreds of homes. Many of those transactions have involved probate and estate situations.

We’re familiar with the challenges families face when they inherit a house and need to figure out what to do next.

If you’re considering selling, you may want to explore two options.

Sell Your Inherited House for Cash

If you’d like to explore a cash sale, we can talk with you about the property and see whether we can make you an offer.

This gives you an opportunity to discuss a direct sale without automatically assuming that listing the house is your only route.

List Your Inherited Property on the Traditional Market

I’m also a licensed real estate agent in Georgia, with my license hanging with One Source in Woodstock, Georgia.

If you’d prefer to list the property on the traditional real estate market, I’d be happy to talk with you about that option, too.

The goal is to help you understand your choices so you can decide what makes the most sense for your situation.

Final Thoughts: You Don’t Always Have to Sell an Inherited House

So, let’s go back to the original question: Your parents left you a house. Do you have to sell it?

Not necessarily.

You may be able to keep the property, buy out your siblings, finance a purchase, or explore owning it together with other heirs. You might even decide to turn it into a rental property.

On the other hand, if you can’t afford the mortgage, property taxes, maintenance, or other expenses, selling may be the most practical decision.

Every situation is different. Your family’s wishes, the estate’s circumstances, and your ability to afford the property all play a role in deciding what happens next.

And remember, this is a complicated topic. Be sure to consult a qualified probate or real estate attorney about your specific circumstances before making legal or financial decisions.

Want to Sell an Inherited House in Georgia? Let’s Talk.

If you’ve inherited a house and decided that selling is the right move, we’d be happy to discuss your options.

Whether you’re looking for a cash offer for your inherited property or want to list your inherited house on the traditional market, our team can help you explore the next steps.

Fill out the form on this page. Once you submit it, a member of our team will get in touch with you, and we can go from there.

I’m Brad, the Probate House Guy. Thanks for reading, and I hope this helps you make a more informed decision about your inherited property.

Disclaimer: This article is for general informational purposes only and is not legal advice. Brad is not an attorney. Consult a qualified probate or real estate attorney regarding your specific situation.