Probate and Inherited Property in Margate, Florida

What is different about selling an estate's home in Margate, what the personal representative can and cannot sign, and the one number the estate needs before anything is listed. Written for families and the attorneys who represent them.

See what the property is worth

A written opinion of value for the estate, from Gia Freer. Not legal or tax advice; we work alongside the estate's attorney.

Short answer: the first question for a Margate estate is not what the property is worth — it is whether the community is age-restricted. 65% of condominium sales here are in 55-plus communities, closing at a median $100,000 against $275,000 for unrestricted units. Get that wrong and the number given to the beneficiaries is off by more than double.

The 55-plus line decides the value

Closed in the last twelve months	Condos, age-restricted	Condos, not restricted	Houses, age-restricted	Houses, not restricted
Closed sales	217	118	57	285
Median closing price	$100,000	$275,000	$319,000	$500,000
Median price per square foot	$108	$223	$236	$309
Median days to go under contract	95	38	85	34
Median year built	1975	1985	1972	1977
Buyers paying cash	58%	21%	23%	12%

Based on information from BeachesMLS, retrieved September 4, 2026. Information deemed reliable but not guaranteed. Listings are provided for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Margate has the largest age-restricted share of any city we cover, on both property types. Estates land in these communities disproportionately, because that is who lived there. An executor working from the citywide condominium median of $125,000 is quoting a blend of two markets that do not overlap.

The practical effect on timing: an inherited 55-plus unit will most likely sell to a cash buyer over about three months. That is normal here, not a sign the price is wrong, and the estate should budget the dues and insurance for it from day one.

The two markets the estate might be holding

Margate	Single-family homes	Condos and townhouses
On the market today	95	334
Listed more than 180 days	9	84
Closed in the last twelve months	342	335
Median closing price	$480,000	$125,000
Median price per square foot	$298	$132
Median days to go under contract	40	68
Months of supply at the current pace	3.3	12.0
Median year built	1974	1979
Built 1996 or earlier, on the market now	92 of 95	308 of 334

An inherited Margate house sells into the tightest market in our coverage area: 3.3 months of supply, 40 days, only nine listings past 180 days. That is the good news an executor rarely gets, and it is worth acting on quickly.

Do not renovate. Do clear the FHA list.

Closed in the last twelve months	Houses sold as-is	Houses, standard	Condos sold as-is	Condos, standard
Closed sales	174	60	208	45
Median price per square foot	$302	$308	$130	$110
Median days to go under contract	43	12	67	39
Median cut from the original asking price	3.1%	2.3%	9.6%	7.2%

Selling as-is costs an estate about 2% per square foot on a house. Funding a renovation from estate money to chase that is a bad trade, and it usually needs beneficiary agreement no one wants to negotiate.

Before we price an inherited unit we ask the executor for the association’s financial statement, reserve schedule and written assessment balance, and we pull the community’s own twelve-month closing history out of our BeachesMLS feed so the comparables come from inside the same restriction.

What does pay is the narrow list a government-backed loan requires. 35% of Margate house buyers use FHA and 6% use VA, the highest combined share in our coverage area. Roof remaining life, peeling paint, missing handrails, exposed wiring and non-working systems are all in scope under FHA's minimum property requirements. On a 1974-vintage house full of deferred maintenance, clearing those specific items keeps 41% of the buyer pool in play for a few hundred dollars rather than a renovation.

The estate is paying for every week

Time to go under contract	Houses: share, and cut from original ask	Condos: share, and cut from original ask
Within 30 days	44%, cut 1.9%	25%, cut 3.1%
31 to 90 days	30%, cut 4.0%	33%, cut 8.8%
91 to 180 days	16%, cut 7.9%	25%, cut 14.8%
More than 180 days	10%, cut 7.4%	17%, cut 23.9%

A condominium that passes six months here gives up 23.9% of the original asking price, the steepest penalty we have measured in any city, while the estate pays dues the whole time. An honest price in week one is worth more than any amount of patience.

The order of operations, and who does what

The estate opens, the court appoints a personal representative, letters of administration issue, and only then can anyone sign. The Broward County timetable, the summary administration threshold and the paperwork an estate needs are in probate and inherited property in Broward County, and the wider process is on our South Florida probate hub. If the property is worth less than what is secured against it, see short sales in Margate. For the ordinary route, see selling in Margate.

We do not give legal advice and we do not prepare court filings. The estate’s attorney does that. Gia Freer, our Broker of Record, has been licensed in Florida since 2000 and prepares every opinion of value personally.

Real-estate process only. This is not legal advice and it is not tax advice. Appointment of a personal representative, creditor claims, homestead determinations and tax basis questions belong with a Florida probate attorney and a CPA. We work with both every week and can refer you.

Start with the number

Gia Freer prepares a written comparative market analysis from our own BeachesMLS data, current or as of a date of death, with the comparables named and the adjustments shown.

See What the Property Is Worth or call (561) 395-8418.

The same Broward County process, with each city's own house and condominium figures: probate real estate in Deerfield Beach; probate real estate in Pompano Beach; probate real estate in Coral Springs; probate real estate in Tamarac; probate real estate in Fort Lauderdale; probate real estate in Hollywood.

Margate probate property questions

Can I sell an inherited Margate property before probate is finished?

Usually the sale closes during probate rather than after it. A personal representative appointed by the court can list and sell, and depending on how the estate is opened the sale may need court authority or the beneficiaries' joinder. What you cannot do is sign a contract before anyone has authority to sign it. The order is: open the estate, get letters of administration, then list. This is real-estate process information and not legal advice; a Florida probate attorney confirms what your estate requires.

Why does the 55-plus question matter so much for a Margate estate?

Because it is the largest single factor in the value, and Margate has more of it than any city we cover. 217 of the 335 condominium sales in the last twelve months were in age-restricted communities, closing at a median $100,000 against $275,000 for unrestricted units. 57 of the 342 house sales were age-restricted too, at $319,000 against $500,000. Before an executor tells the beneficiaries a number, they need to know which side of that line the property sits on.

How long will an inherited Margate property take to sell?

A house, quickly: a median 40 days to go under contract, 3.3 months of supply, and only 9 of 95 listings past 180 days. An age-restricted condominium, slowly: a median 95 days, in a market with 12.0 months of supply. An estate holding a 55-plus unit should budget several months of dues, taxes and insurance and tell the beneficiaries that at the start rather than in month four.

Should the estate renovate an inherited Margate house first?

No. As-is houses closed at $302 per square foot against $308 for standard sales, which is a difference of about 2%, nowhere near the cost of a renovation an estate would have to fund. What is worth doing is the narrow list an FHA lender will flag, because 35% of house buyers here use FHA financing and 6% use VA. Roof life, peeling paint, missing handrails and exposed wiring are the usual items, and clearing them keeps the largest part of the buyer pool available.

The house is from the 1970s. Does that hurt the estate?

It creates document work rather than a discount. The median Margate house was built in 1974 and 92 of the 95 on the market today date from 1996 or earlier. With 84% of house buyers borrowing, a lender and an insurer will both want roof age, water heater, electrical panel and open permit status. We ask an estate for the permit history and any four-point and wind mitigation reports before pricing, because an open permit left behind by the deceased is the most common reason an inherited Broward house falls out of contract.

What does the estate need from the association?

Two documents before pricing: the most recent financial statement and reserve schedule, and the written balance of any assessment charged to the unit. 308 of the 334 condominiums on the market here are in buildings from 1996 or earlier, so structural inspection and reserve funding obligations are live questions in many of them. What is owed to the association is cleared at closing alongside any mortgage, and with 58% of age-restricted buyers paying cash, a known assessment comes straight off the offer.

What is the property worth as of the date of death?

That is a different question from today's asking price, and it drives the tax basis. An estate generally needs an opinion of value as of the date of death supported by comparable sales from that period. In Margate the comparable set has to respect the age restriction above everything else, because a 55-plus comparable can misstate an unrestricted unit by more than double. We prepare a written comparative market analysis on that basis from our own BeachesMLS data.

What happens if the heirs disagree about selling?

Nothing, until it is resolved. We will not take a listing where the people entitled to the property have not agreed to sell it, because the contract falls apart later and the estate pays for the delay. If the heirs are deadlocked, that is a conversation for the estate's attorney first. We are happy to give everyone the same set of figures to argue over, which sometimes settles it.

What clients say

PBP Real Estate holds 96 Google reviews at an average of 5.0 out of 5. Every quote below is a verbatim excerpt from a public review on that profile, shortened only where marked.

Gia and John from PBP Real Estate exceeded expectations in selling my mother's Delray Beach condo, which had previously failed to sell with another firm. Despite being in New York, I experienced excellent communication and responsiveness via phone, text, and email, making the remote process, including the closing, stress-free.
★★★★★ Robert S. · Google review, December 2024
I needed to sell my mothers home from out of state and Gia made the whole process very easy. She helped me getting the right people to get the house emptied and cleaned.
★★★★★ Roger D. · Google review, December 2024
We live in Ohio and had to sell a home in South Florida that needed a lot of work. She is extremely knowledgable and very helpful when it came to what should be done and what could be left alone to get us the most profit. Gia has a large network of reliable contractors.
★★★★★ A Google reviewer · Google review, April 2020

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Written and reviewed by Gia Freer, Broker of Record, PBP Real Estate, LLC · Florida broker license BK689801 · brokerage license CQ1064615. Last reviewed September 4, 2026.