How to Sell an Inherited Property You Don't Want

Inherited a house but don't want to keep it? Learn how to sell quickly and handle the tax implications.

Why Sell an Inherited Property?

It's Too Far Away

Managing a property in another province or country is impractical

You Don't Need It

You already own a home and don't want the extra property

It Needs Repairs

The property requires expensive repairs you don't want to invest in

You Need Cash

Selling converts the property into liquid assets to pay debts or invest

Tax Considerations

Good news: In Canada, inherited properties typically receive a "stepped-up basis" at the time of inheritance. This means you generally won't owe capital gains tax on appreciation that occurred before you inherited it. However, consult a tax professional about your specific situation.

How to Sell

Traditional Sale

  • • List with a realtor
  • • Potentially higher price
  • • 60-90+ day timeline
  • • 5-6% commission

Best if: You have time and want maximum price

Cash Buyer

  • • Sell as-is, no repairs
  • • 7-14 day closing
  • • No commissions
  • • Guaranteed sale

Best if: You want quick, hassle-free sale

Sell Your Inherited Property

SilversEdge buys inherited properties quickly and hassle-free. We close in 7-14 days and handle all the details.