Monday, December 26, 2022 / by Toi Holliday
How To Navigate Your Inherited Home Sale
HAVE YOU INHERITED A PROPERTY?
Selling an inherited property can be a complex process; especially if you have other competing priorities such as making final arrangements for your loved one, working with attorneys, dealing with family members, and other businesses affairs you may need to look after. However, if you are working with the right team of real estate professionals it can mean a load of stress off your shoulders and a step closer to finalizing your loved one’s estate.
TIPS FOR THE PROBATE PROCESS
WHAT IS A PROBATE?
Probate is a legal court process for the transfer of assets such a house, cars, stocks, bonds, boats, etc. from the deceased person's name to his or her estate so they can be sold or distributed to their heirs. The court appoints a person to be in charge of the estate, as the personal representative. The personal representative is known as the Executor or Administrator and will be given Full Authority or Limited Authority. Full Authority grants the Executor and Administrator the ability to act on behalf of the estate with less supervision from the probate court. While, Limited Authority, requires probate court oversight.
HOW LONG DOES PROBATE TAKE?
The probate timeline is approximately a 12-month process.
(Download cheat sheet for The Probate Process)
WHEN CAN I SELL MY INHERITED PROPERTY?
An Executor and Administrator can sell the inherited property after receiving authority from the probate court.
WHEN DO I NEED A REAL ESTATE AGENT?
You should start the process of speaking with a real estate agent as soon as possible. Just keep in mind that you will not be able to sell the property before you have authority from the probate court.
Real estate agents can help you in many aspects of preparing your inherited property for sale. If you work with the right real estate agent, they can be resourceful and be your guide when you are overwhelmed with the many aspects of selling the estate.
Whether you are dealing with a probate, managing an inherited property, liquidating assets, or needing to sell for other personal reasons, I am honored to have the opportunity to guide you each step of the way. Schedule an appointment, give me a call and please download my free guide on How to Navigate Your Inherited Home Sale.
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