Sometimes selling real estate is under less than ideal circumstances. When charged with settling an estate of a loved one or close friend, it's a tough job.
Our role as REALTORS® is to assist with the sale of real property. We do not give legal or tax advice. We can direct you to professionals and service providers. Sometimes Executors want to know if they can talk to an agent while they go through the process. We are a source of sources and, well, sometimes, a sounding board. We can give you opinions as they relate to real estate.
We can also offer contractor services to prepare a property for sale if you need to take care of deferred maintenance or if some cosmetic updates could help the estate achieve top dollar for the property. There's always the option to sell as-is, and we work with investors if that is the route you must go. We believe in doing what is best for the beneficiaries of the estate.
Before you get the formal process started, you may want some direction as to the potential sales value of the property while you inventory the assets. You will be looking at all asset classes, including and not limited to:
- bank accounts,
- automobiles and recreation vehicles
- life insurance
- real property
- other assets
When one person inherits a property, and it is expected, it can be a great blessing. But it's a burden if the person can't afford it. If there is more than one beneficiary, decisions must be made together. When the estate does not have the funds to maintain the upkeep, it falls to all the beneficiaries or those who can afford it. These expenses add up quickly.
- mortgage
- taxes
- insurance
- maintenance
- deferred maintenance
When a property has not been maintained, some essential items that need to be replaced include:
- roof
- siding or masonry repair
- HVAC
- foundation
- appliances
- flooring
- interior painting
- exterior painting
