Help! I’ve Inherited a Property—What Do I Do Now?

First of all—deep breath.

Inheriting a property can be a whirlwind. It might be something you expected, or it might have come completely out of the blue. Either way, it’s natural to feel overwhelmed. You may be grieving, dealing with legal paperwork, and trying to make sense of what it all means—not just emotionally, but practically too.

So, what now?

Whether it’s a quaint terrace in Northwich, a flat in Winnington Village, or a countryside home passed down through generations, here’s a straightforward guide to help you navigate what comes next—with clarity, confidence, and a touch of Dottie charm.

Step 1: Don’t rush—take stock.

When you inherit a property, especially from a loved one, there can be a real emotional weight attached to it. It’s easy to feel like you need to make quick decisions—especially if family members are involved or bills are starting to come in. But one of the most helpful things you can do at this stage is pause and take a good, honest look at the situation.

Here’s what to check first:

• Who now legally owns the property? (This is confirmed via the probate process or the Will.)

• Is there a mortgage? Some mortgages are paid off on death, while others may transfer with the property.

• Are there debts secured against the home?

• Is the property currently tenanted? If so, you’ll need to honour any tenancy agreement.

• What condition is it in? Is it ready to move into or let, or will it need renovation?

This is a good time to speak to a solicitor, financial advisor, or estate planner if you haven’t already. You’ll also benefit from a local lettings agent who can give you a free rental or sales appraisal, helping you make an informed decision.

Step 2: Explore your options

Now you’ve gathered the facts, it’s time to think about what you actually want to do. The three main routes are:

1. Sell it

This can be the most straightforward option—especially if the property is far from where you live or if you have no interest in becoming a landlord. A sale can provide a lump sum that might go towards your own home, retirement, or simply easing financial pressure.

That said, if the property has sentimental value or income potential, don’t rush. Consider your long-term goals.

2. Rent it out

Letting the property can turn an inheritance into a stable income stream. This can be especially powerful if the mortgage is paid off or minimal. Many of our landlords at Dottie Lettings fall into this category—what we call accidental landlords—and we help them turn a surprise inheritance into a valuable asset.

Before renting it, the property needs to meet current legal standards, including:

• EPC rating of E or above

• Valid gas safety certificate

• Electrical installation condition report (EICR)

• Smoke and carbon monoxide alarms

• Fit-for-purpose furnishings (if let furnished)

It can feel like a lot—but that’s where a managed letting service takes the pressure off you.

3. Live in it

If the property fits your lifestyle, location and needs, moving in might make sense. But even then, it’s worth checking for any legal or financial obligations, especially if multiple people inherited it or if you plan to renovate before moving in.

Step 3: Understand the legal and tax responsibilities

Even if the property has no mortgage, there are still responsibilities to take care of.

Here’s a brief overview:

• Probate needs to be granted before ownership is transferred. This can take weeks or months depending on the estate.

• Inheritance Tax may be due if the estate is worth over a certain threshold.

• Capital Gains Tax could apply later if you sell and the property has increased in value since you inherited it.

• Landlord legislation is constantly evolving. If you let it out, you must follow strict rules covering tenant safety, deposits, and documentation.

• Council tax and utility bills need updating into your name or your tenant’s, depending on what you choose to do.

If it’s starting to feel like a full-time job… that’s because it can be! But it doesn’t have to fall on your shoulders alone.

Step 4: Decide if you want to manage it yourself

Letting a property is not just about handing over keys and collecting rent. It’s about:

• Vetting tenants properly

• Handling maintenance issues

• Staying compliant with lettings law

• Renewing safety certificates on time

• Responding to emergencies

• Chasing unpaid rent (if needed)

As a one-woman business with 14+ years in lettings, I’ve seen it all—and I know how much peace of mind a good letting agent can bring.

At Dottie Lettings, we specialise in helping first-time landlords, especially those who didn’t plan on becoming one. We’re based here in Northwich, and I work directly with every client. You won’t be passed around a call centre or left chasing updates.

We can offer:

• A free property appraisal

• Guidance on legal requirements

• A fully managed lettings service where we take care of everything

• Friendly, no-pressure advice—often on a dog walk with Dottie!

Final Thoughts

Inheriting a property can be both a blessing and a burden. It’s okay to feel a bit of both.

But with the right support, you can make smart, confident decisions that protect your future—and honour your past.

If you’re local to Northwich and unsure what to do next, I’d love to help. Drop me a DM, email, or message, and let’s have a chat. No pressure, no jargon. Just honest advice, with a dachshund or two by my side.