Selling an Inherited House in Virginia: A Guide for Richmond and Henrico Families

Inheriting a house usually comes at a hard time. Along with the grief, there are decisions to make about a property you may not want, can’t live in, or share with brothers and sisters. Here’s a plain-English overview of how selling an inherited house generally works in Virginia, for families in Richmond, Henrico County and the surrounding area.

This article is general information, not legal or tax advice. For advice about your situation, talk with a Virginia attorney or a tax professional.

Start With Who Can Sell

Before anyone can sell, it has to be clear who owns the house now and who can sign the deed. In Virginia, wills are probated through the circuit court clerk’s office in the city or county where the person lived. The clerk qualifies the executor named in the will, or appoints an administrator if there’s no will.

Who signs the sale depends on the will and on how the house was titled. A will may give the executor the power to sell; in other cases every heir may need to sign. A house that was jointly owned with a right of survivorship, held in a trust, or covered by a transfer-on-death deed may not go through probate at all. A title company or estate attorney can sort this out early, which avoids surprises at closing.

Costs Keep Coming While You Decide

An empty house still has bills. Real estate taxes, insurance, utilities and yard care keep coming due, and any mortgage on the house still has to be paid, usually from the sale proceeds at closing. Many homeowners insurance policies also limit coverage once a house has been vacant for a while, so call the insurance company to make sure the house is still covered.

Taxes Heirs Usually Ask About

Virginia doesn’t have an inheritance tax or an estate tax. For federal income tax, inherited property generally gets a “stepped-up” basis equal to its value on the date of death, so selling soon after you inherit may mean little taxable gain. Every estate is different, so check with a tax professional before you sell.

When the Heirs Don’t Agree

When several people inherit a house together, all of them usually have to agree to sell. If they can’t, a co-owner can ask a court to divide or sell the property in what’s called a partition suit, but that tends to be slow and expensive. Many families find it easier to agree on a sale and split the proceeds.

Your Options for Selling

• List it with an agent. This usually means cleaning out the house, making repairs, and waiting for a buyer and their lender.
• Fix it up first. This can bring a higher price, but the estate pays for the work and carries the house longer.
• Sell it as-is for cash. This is faster and simpler: no clean-out, no repairs, and a closing date that works for the estate.

We buy inherited houses throughout Richmond and Henrico County, including Glen Allen and Highland Springs. You can leave behind anything you don’t want to keep, and in Virginia the closing is handled by a settlement agent or attorney, as with any sale.

If you’ve inherited a house and want to know what it’s worth as-is, get a no-obligation cash offer or read how our process works. There’s no pressure to decide quickly.