What are some important things to know when selling a home as part of an estate?
Selling a home as part of an estate can be a complex and emotionally challenging process. Here are eight important things to consider when selling a home as part of an estate:
Get professional help:
It’s important to work with a real estate agent, like the Mike Van Cleve Team at RE/MAX Traders Unlimited who have experience in handling estate sales. We can help you navigate the process and ensure that you get the best possible price for the property.
Get a property valuation:
Before listing the property, you’ll need to have it valued by a professional appraiser or we can provide you with a Broker Price Opinion (BPO). This will give you an idea of its market value and help you set a realistic asking price.
Check the title:
Make sure that the property title is clear and that there are no liens or outstanding debts that need to be paid off before the sale can go through.
Consider repairs and staging:
Depending on the condition of the property, you may need to make repairs or upgrades before listing it for sale. You may also want to consider staging the home to make it more appealing to potential buyers.
Be prepared for negotiations:
Buyers may try to negotiate the price or terms of the sale, so be prepared to negotiate if necessary.
Understand tax implications:
Selling a home as part of an estate can have tax implications, so it’s important to understand the tax laws in your area and consult with a tax professional if necessary.
Communicate with beneficiaries:
Keep beneficiaries informed throughout the process, and make sure that everyone understands the timeline and expectations for the sale.
Selling a home as part of an estate can take time, so be patient and prepared for the process to take several months or even longer. The length of this process can vary depending on many factors. This is why using a trusted real estate professional can be beneficial.
When it’s time to sell the home as part of an estate, the Mike Van Cleve team has the experience and ability to help guide clients through the sale process. Compare your calendar against ours to Schedule an appointment now
On March 7th, 2023, Mike partnered with Heiple Law Offices to host an estate planning seminar. We’re editing the video from that seminar and we will post that video when it’s done. In the meantime, check out the brief interview Jeremy Heiple and I did in preparation for the seminar.