Yes, you can sell an inherited home on Long Island, but you usually can’t list it right away. In New York, someone needs court approval to act for the estate first. Moreover, the taxes on the sale are often lower than families expect. Here’s what you need to know, step by step, so you can make a calm decision.
Step 1: Get the authority to sell
If there’s a will, it goes to Surrogate’s Court for probate. The court confirms the will is valid and appoints the executor named in it, according to NY CourtHelp. If there’s no will, the court appoints an administrator instead.
Until the court issues letters testamentary, the executor can protect the house, but can’t sell it. That rule comes from New York’s Estates, Powers and Trusts Law, as the New York courts’ law librarians explain. The title company and the buyer’s attorney will ask to see those letters before closing.
Therefore, call an estate attorney early. You can still get the house ready while the paperwork moves. Just don’t sign a contract to sell until your attorney says the executor has the authority to do it.
Step 2: Protect the house while you wait
- Keep the insurance active. Tell the insurance company the home is empty. Many policies treat a vacant house differently.
- Keep the heat on. A Long Island winter can freeze pipes in an empty house fast.
- Keep paying the bills. Property taxes, utilities and any mortgage still come due.
- Secure it. Lock it up, collect the mail and check on it often.
- Save the paperwork. Deeds, tax bills, permits and repair records all help at closing.
Step 3: Understand the taxes
Most heirs get what’s called a “stepped-up” basis. Your starting value for tax purposes is generally the home’s fair market value on the date of death, not what your parents paid decades ago, according to the IRS. If you sell for close to that value, your taxable gain may be small. A date-of-death appraisal helps you document it.
Estate taxes reach fewer families than most people fear. New York’s basic exclusion amount is $7,350,000 for deaths in 2026, per the New York State Department of Taxation and Finance. The federal exemption is $15,000,000 per person in 2026, according to the New York State Society of CPAs.
However, New York has a “cliff.” Once a taxable estate goes past 105% of the exclusion, which is $7,717,500 in 2026, the whole estate can be taxed. Your accountant or estate attorney can tell you where your family stands.
Step 4: Decide together: sell, rent or keep
Many homes pass to two or more siblings. Everyone may feel differently about the house. One may want to sell. Another may want to keep it or rent it out.
Talk it through early. Keeping the house means someone pays the taxes, insurance and upkeep every month. Selling turns it into money that’s easy to split. There’s no wrong answer, but there should be one plan that everyone agrees on.
What the Long Island market looks like now
Prices are holding up. The September 2026 median single-family sale price was $740,000 in Suffolk, up 2.8% from a year earlier, and $860,000 in Nassau, up 2.1%, according to OneKey MLS.
Homes are also moving. Suffolk sellers received 101.0% of their original list price on average in September, and homes in both counties averaged 40 days on market, per OneKey MLS figures reported by Long Island Guide.
Rates are easing, too. The 30-year fixed rate averaged 7.18% as of November 5, 2026, its third straight weekly drop, according to Freddie Mac. That helps more buyers qualify.
Sell as-is or fix it up?
Many inherited homes haven’t been updated in years. You don’t have to renovate. Some buyers want a house they can make their own. Still, a clean-out, a fresh coat of paint and a few small repairs often pay off.
The right answer depends on the house, the budget and how fast the family wants to move. A local agent can show you what similar homes sold for, both updated and as-is, so you can compare.
“An inherited house is never just a house. We take it one step at a time, work alongside your attorney, and help your family make a decision you’ll feel good about.” — Brad Wilson, Broker, Jones Hollow Realty Group
Thinking about selling an inherited home on Long Island?
We’ll walk you through the process, show you what the home is worth today and help your family plan the next step. Contact Jones Hollow Realty Group at joneshollowrealty.com or stop by our office at 136 Carleton Ave in East Islip to talk with a local agent.