Did you just inherited a property, or are you helping a family member of friend with an estate sale
Whether you are looking for step by step guidance, or just an overview of the current market conditions, we can help you! Without the proper professional guidance, residential estate sales can require some tricky maneuvering. Our DC, VA, and MD licensed team is ready to help make this process as easy as possible for you and your loved ones. Below are some basic steps to take to help you through the process:
Step 1: Hire a Real Estate team with experience in estate sales. Our team has helped a number of sellers with estate sales, and can help guide you through the process. You may also need to hire a qualified Trusts and Estates Attorney. Together your team will help you to sort through any legal documents, determine all pre-sale requisites, and help you to maximize the home’s sale price through proper marketing avenues.
Step 2: Determine who is the authorized party to sell the residential property. The authorized party (or executor) could be a family member, group of family members, friends, or pre-determined advisor. Before selling the property, the entire authorized party must be in agreement with the proposed selling plans.
Step 3: Determine if the property is a probate or non-probate asset. Probate assets are defined as assets that are solely in the decedent’s name and are required to be collected by court appointed fiduciary, who will then distribute the assets in accordance with the terms of the will. Non-probate assets are items that are not collected or sold by a court appointed fiduciary. In these cases, the surviving joint tenant has the power to collect or sell the property as the new owner.
Step 4: Be sure to have the proper legal documents in order, before starting the residential estate sale process. Some of the documents that your Real Estate agent and legal team may need you to gather include:
Original death certificate – proof that the original owner has passed away, thus allowing the executor to claim ownership of the property.
Copy of Will – proof of the executor(s) and their right to sell the property.
Copy of Codicil – proof of any exceptions or amendments to the will.
Conducting a residential estate sale in DC, VA, or MD can be a much easier process when you hire a knowledgeable team that follows the above steps. To learn more about our Real Estate services and our specialty in estate sales, please contact us today! Besides providing a wealth of Real Estate knowledge, our team also offers home staging services and access to the best contractors for any property renovations and repairs that need to be completed before the sale. We look forward to answering any of your questions and helping you throughout the estate sale process.