Inherited a Home in South Miami? Here’s How to Sell With Confidence

Inheriting a home in South Miami can be both a gift and a challenge.

Whether the property is in Coral Gables, Coconut Grove, or South Gables, navigating an inherited sale involves more than just listing a house. It means dealing with legal details, understanding taxes, and making decisions that honor your family—while also protecting your financial future.

If you’ve inherited a home and are considering selling in 2026, here’s how to do it with clarity, confidence, and the right support.

Step 1: Confirm Ownership and Legal Authority

Before you can sell, you need to make sure the legal paperwork is in place. This includes:

• Going through probate (if applicable)
• Obtaining a court order or Letters of Administration
• Ensuring the title is in your name or the estate’s name

If multiple heirs are involved, all parties must agree on the decision to sell—or work with a personal representative to act on behalf of the estate.

Riley Smith Group can refer you to trusted local probate attorneys to help streamline this step.

Step 2: Understand the Tax Implications

One major benefit of selling an inherited home is the step-up in basis. This means:

• You’re taxed on the difference between the home’s fair market value at the time of inheritance and the final sale price—not the original purchase price.

Example: If the home was purchased decades ago for $200,000 and valued at $1.2M when inherited, only gains above $1.2M are taxable.

Still, it’s important to consult with a tax advisor to:

• Determine if capital gains tax will apply
• Understand how the sale impacts your overall tax situation
• Explore any deductions for improvements or expenses

Step 3: Decide Whether to Sell, Rent, or Keep

Not every inherited property needs to be sold right away. Consider:

• Selling: Best if you don’t want to manage the home or divide equity among heirs
• Renting: Could provide cash flow but comes with responsibilities and tax consequences
• Keeping: Works if the home holds personal value and long-term viability

Riley Smith Group can help you assess the property’s market value and rental potential, so you can make a smart decision based on real numbers—not just emotion.

Step 4: Prepare the Property for Market

Inherited homes are often older or dated—but that doesn’t mean you need a full renovation to sell well.

Focus on:

• Cleaning out personal belongings (RSG can connect you with estate cleanout professionals)
• Light repairs to ensure the home is functional and safe
• Cosmetic updates like paint, lighting, and curb appeal
• Professional staging, if needed, to help buyers see the potential

Riley Smith Group helps sellers develop custom prep plans that maximize value without unnecessary expense.

Step 5: Price it Right—With Local Expertise

South Miami neighborhoods like Coral Gables and Coconut Grove vary block by block. Pricing based on online estimates or emotional value can lead to missed opportunities.

Your agent should:

• Provide a current market valuation based on recent comps
• Understand buyer behavior in 2026
• Offer guidance on whether to price for a quick sale or wait for top dollar

With over $2B in local sales, Riley Smith Group brings deep pricing insight and strategy to every inherited sale.

Step 6: Prepare for an Emotionally Smooth Sale

Selling a family home—especially after a loss—can be emotional. Choose a real estate team that respects the process and helps you:

• Make decisions with confidence, not pressure
• Coordinate logistics across heirs or out-of-town family
• Manage timing around legal or probate timelines
• Stay focused on your next chapter

RSG’s process is designed to be clear, professional, and people-first.

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

Inheriting a home comes with responsibilities, but you don’t have to carry them alone. With the right information and a trusted team, you can turn the inheritance into an opportunity—whether it’s a financial step forward or the closing of an important chapter.

Riley Smith Group helps South Miami families sell inherited properties with care, strategy, and results.