If you’ve recently inherited a home in Brevard County — whether in Cocoa Beach, Merritt Island, Viera, Satellite Beach, Melbourne, Rockledge, or Indian Harbor Beach — you’re likely facing important decisions: sell, rent, or keep the property. As true locals and trusted real estate professionals, Bobby & Nikki Freeman of McCoy Freeman Compass specialize in helping families navigate inherited homes with clarity, confidence, and results. Request your Free Detailed CMA today to make a smart, informed decision.

Why Inherited Property Decisions Matter in Brevard County

• Unique market mix: Beachside condos, riverfront homes, and family estates all attract different types of buyers.
• Emotional decisions: Selling a loved one’s home can be both personal and complex—having a calm, experienced guide makes all the difference.
• Multi-heir coordination: When several family members are involved, clear communication and a strong listing strategy are essential.

1) Legal & Tax Essentials for Florida Heirs

No State Inheritance or Estate Tax

Florida does not impose a state inheritance or estate tax. However, large estates may still be subject to federal estate tax. Always confirm details with your CPA or estate attorney.

Capital Gains & Stepped-Up Basis

Inherited properties receive a “stepped-up” basis to the fair market value at the date of death. If you sell the property for more than that value later, you may owe capital gains tax on the difference.

Probate, Title & Homestead

Most inherited properties must clear title or complete probate before being sold. If the home had a homestead exemption, consult your attorney to determine how it affects transfer or taxes.

Helpful resources:
Florida Department of Revenue – Estate/Inheritance Overview ·
Kiplinger – What to Do When You Inherit a House

2) Your Options for an Inherited Property

Sell the Property

Many heirs choose to sell for simplicity and to distribute proceeds fairly. A Free Detailed CMA from McCoy Freeman Compass helps you understand today’s market value, buyer demand, and the best pricing strategy.

Hold or Rent

Renting can create monthly income—especially in desirable coastal areas like Cocoa Beach or Merritt Island—but it comes with management and insurance responsibilities.

Keep It as a Second Home

Some families prefer to keep the property for personal use or as a legacy home. Just budget for property taxes, maintenance, and HOA or condo fees.

Gift or Transfer

Occasionally, heirs choose to gift or transfer their share to another family member. Consult your estate attorney for the best legal approach and tax implications.

3) The Space Coast Advantage

• Strong Buyer Demand: Beachfront and riverfront homes remain highly sought after by local and out-of-state buyers.
• Diverse Communities: From Cocoa Beach condos to Merritt Island waterfront homes, inherited properties attract broad interest.
• Rising Insurance & HOA Costs: Proper documentation and disclosure help reduce buyer concerns and shorten days on market (DOM).

NEW: White-Glove, Full-Service Support for Heirs

Beyond pricing and marketing, our team provides end-to-end help so you don’t carry the burden alone. We routinely:

• Coordinate home clean-outs (trash removal, haul-away, deep cleaning, locksmiths).
• Arrange donation pickups with local charities and provide itemized receipts for your records.
• Organize estate sales and connect you with vetted appraisers, auctioneers, and liquidators.
• Manage vendors for light repairs, painting, landscaping, and photo-ready prep.
• Oversee access & scheduling for out-of-area heirs (we handle keys, entry, and supervision).

When feasible, we can coordinate vendor payments to be collected at closing—ask us about options for your situation.

4) 10-Step Checklist to Sell an Inherited Home

1. Gather documents (death certificate, deed, mortgage/HOA records).
2. Request your Free Detailed CMA from Bobby Freeman at McCoy Freeman Compass.
3. Confirm probate or title clearance with your attorney.
4. Consult a CPA on cost basis and tax implications.
5. Get all heirs aligned on a timeline and price range.
6. Schedule clean-out, donation pickups, and photo-ready prep (we can coordinate all vendors).
7. Stage and photograph the home professionally.
8. Launch a targeted marketing campaign across major platforms.
9. Review and negotiate offers carefully.
10. Close with confidence knowing every detail is handled.

5) Why Choose McCoy Freeman Compass

The McCoy Freeman Compass Team — Bobby, Nikki, and Jennifer McCoy — trusted Space Coast real estate professionals helping families buy and sell inherited and waterfront homes across Brevard County, Florida.

Bobby & Nikki Freeman are trusted Space Coast real estate professionals with deep roots in Brevard County — lifelong locals with decades of experience representing sellers in Cocoa Beach, Merritt Island, Satellite Beach, Viera, Melbourne, and Rockledge.

“I recently represented six family members who had inherited a Cape Canaveral condo together. Another broker had listed the property for over nine months without a single accepted offer. After refreshing the marketing, adjusting the pricing strategy, and presenting the condo with professional photography and strong digital exposure, we secured a qualified buyer within weeks. The family was thrilled to finally close successfully after such a long wait.”
— Bobby Freeman, McCoy Freeman Real Estate Group at Compass

• Hundreds of successful sales and $500M+ in closed volume.
• Full-service marketing: cinematic video tours, drone photography, and digital targeting.
• Expertise in probate and multi-heir property transactions.
• Truly full-service: clean-outs, donation logistics, estate sales, vendor management, and remote-heir coordination.
• Compass data tools for precise pricing and timing.
• Personal guidance and transparent communication from start to finish.

Explore related resources:
Compass 3-Phase Marketing ·
Space Coast Market Report ·
Top Brevard County Realtor – Bobby Freeman

6) Frequently Asked Questions

Do I owe state inheritance tax in Florida?

No. Florida does not impose a state inheritance or estate tax. Confirm with your CPA for any federal considerations.

What if the home still has a mortgage?

You can still sell the property. The loan balance will be paid off at closing from the sale proceeds. Bobby Freeman and our team coordinate payoff statements and lien releases for a smooth closing.

What about insurance coverage after inheriting a property?

Contact the insurer right away to update the policy name and coverage type—especially for vacant or rental use. Lenders and buyers require current, active coverage.

Can multiple heirs sell together?

Yes. All heirs must agree to sell and sign the closing documents. Bobby & Nikki Freeman routinely coordinate remote e-signing and notarization for out-of-state family members to keep the process simple.

Do you help with clean-outs, donations, and estate sales?

Yes. Our team provides white-glove coordination for clean-outs, donation pickups with receipts, and vetted estate sale professionals. Bobby Freeman oversees scheduling, access, and vendor management so you don’t have to be here in person.

Can vendor costs be paid at closing?

Often, yes. Bobby Freeman will work with title, your CPA, and approved vendors to arrange payment through closing when possible, subject to lender and title requirements.

How long does it take to sell?

Most inherited homes on the Space Coast sell in 30–90 days when properly priced and marketed. Bobby & Nikki Freeman use targeted marketing and careful pricing to shorten days on market while protecting your net.

Should we repair or sell as-is?

Focus on easy, high-ROI improvements: paint, lighting, deep cleaning. Bobby Freeman will walk the property and prioritize only what improves marketability and ROI before listing.

Can I sell an inherited condo in Cocoa Beach before probate is finished?

Sometimes, yes. You can accept an offer and close after probate finalizes. Your attorney and agent can coordinate the timeline to ensure everything aligns legally.

What makes McCoy Freeman Compass different for inherited property sales?

We combine local knowledge, data-driven pricing, full marketing exposure, and end-to-end support (clean-outs, donations, estate sales, vendors) under the guidance of Bobby & Nikki Freeman to deliver a smooth, profitable result.

Have a specific question about your family’s situation? Talk directly with Bobby Freeman at 321-693-1694 for clear next steps.

Get Your Free Detailed CMA

Curious what today’s buyers will pay? We’ll prepare a Free Detailed CMA and outline a personalized strategy for your inherited property in Cocoa Beach, Merritt Island, Viera, Satellite Beach, Melbourne, Rockledge, or Indian Harbor Beach.

McCoy Freeman Real Estate Group at Compass
Bobby & Nikki Freeman — Cocoa Beach, Florida
📞 321-693-1694 · 🌐 McCoyFreeman.com