Dealing with the passing of a loved one can be difficult. I experienced this myself when my Grandmother passed away a few years ago. I was her power of attorney during the last few years of her life and was the designated representative of her estate. Most of her estate was easily liquidated since she had me as PUD ( payable upon death) with the bank accounts. Selling her primary residence and selling the items she collected over the years was not as simple. As most people do, we sold everything in the house through an Estate Sale (except for the items our family wanted to keep). Then we needed to sell the house. This process was not as difficult for me since I am an investor who buys distressed properties anyway. That being said, I still had to use the funds from her estate to make the necessary repairs to get the home sold for the most money. Even though I do this for a living, I still had some backlash from the other family member. This is expected , or at least I know that now. Most people don’t prepare for this type of situation and that can cause a lot of stress. Besides, what’s family without a little heated argument now and then!
Below are a few points we like to point out when dealing with probate or estate liquidation that involve the selling of a home.
-Get the right people involved as soon as possible (Probate Attorney, Realtor/Investor, Title Company)
-Decide if you want to sell the home AS IS quickly or Fully Renovated
-Decide on IF and Who will be paying for the repairs and Maintenace of the home while it sells.
-Decide on what you want to do with the contents IN the home. Whether it be personal property or tenants (in the event it’s a rental). Do you want to remove the items/people or sell the home with them in it.
Since the passing of my grandmother, I have dealt with many different probate situations for others. We have an amazing Probate Attorney to refer out as well as a seamless Title Company to help with the sale. We almost always just buy the home As-Is and with no additional work from the family. Sometimes, we allow the seller to continue to live in the home or allow them some time to do an estate sale and remove the items after the sale of the home.
If you are in the process of selling a house that is part of probate or just want to sell quickly, give me a call or put the address in and we will reach out.