Selling a house after death of parent – or after any relative passes away – is known as an “estate sale.” In many ways, selling a house after death of parent is similar to a traditional home sale. However, there are some additional factors that can be seen as hurdles if you are not prepared.
We know that having to deal with the death of a loved one is never easy. But if you find yourself selling a house after death of parent, here are some things to consider.
Starting with the Will
In most cases, when one passes away and leaves behind a will (called “testate”), the real estate will pass directly to the beneficiaries under the will or to heirs at law. For example, when a home is left to two children, each receives equal ownership of the house.
Selling a House After Death of Parent
When selling a house after death of parent, the first step is to ensure that the executor actually has the authority to do so. This information should be specified in the will. If the executor was not given authority over the real estate, then the beneficiaries possess the authority. In this situation they can sell the property without needing the executor’s consent.
Of course, every state is going to have its own procedures to follow. This is why it is critical that you work with the right team to help guide you through this process.
Pay Bills & Collect Docs
When considering selling a house after death of parent, it will be important for you to continue paying any bills that are related to the home. Staying on top of the utilities, maintenance and mortgage can help avoid complications down the road.
This is also the time to collect the necessary paperwork and documents related to the home. Compiling and organizing the information related to the home and the decedent’s estate will be important throughout the process.
Preparing the Home for Sale
When it comes time for actually selling a house after death of parent, the steps required – while charged with emotion – are essentially the same as any other home sale. As sellers, you will want to go through the home and clear out as much as you can.
If there are possessions there that will be divided up amongst family members, now is a great time to allocate. Clearing the house of clutter in preparation for the cleaning and staging is an important step in the sale.
As home sellers, you can also consider making updates or renovations to the property. If you are not in a hurry to sell and want to invest the time and money into renovating, now is the time to do so. However, if you want to sell the home fast and as-is, we can help.
We buy homes for cash, helping sellers who are in a hurry to move on. If you do not want to spend the time, energy and money to repair the home, that is not a problem for us. We want to buy the house as-is with cash. If you are interested in learning more, contact us today.
Selling a house after death of parent is never an easy undertaking. There is so much emotion infused with what can feel like an overly complicated process. On top of it all, sellers will also have to take into consideration the tax impacts that come with the process.
But you are looking for a hassle-free fast sale, contact us. We specialize in working with sellers in difficult situations. Because we can offer cash, we can close fast and get you on your way.
