Estate sales have several unique aspects from the ‘traditional’ sale and requires an expert in this specialized process for a smooth transaction.
The Estate is part of a larger process, whether with or without a will, the estate may need to be settled with a legal and/or tax process, selling a home.
- Even with an estate administrator, executor, or executrix serving as a single point of contact, there are often other parties that have interest in, or want communication, as part of the process.
- Personal effects for sale, donation, passing down to family, etc.
- Repairs or renovations that would add to value. These repairs may arise from deferred maintenance or from the age of the home. In some townships, a ‘resale inspection’ is required and may prove problematic without some repairs.
- Desire to sell AS IS. In other words, the estate does not want to make repairs to the house, saving the money, time and hassle of managing, or paying for, a project.
- Equity all locked up in the house. The home may be free of mortgages, leaving lots of equity, BUT, you can’t get to it. Without access to the real estate’s equity, your options may be limited and this can translate into a lower sale price. Borrowing for an estate is difficult or very expensive. I have been able to arrange for contractor’s repairs to be paid at settlement and have helped many estates obtain reasonable loans.
- Reverse Mortgage. A reverse mortgage comes due upon the passing of the borrower and the mortgage company usually wants to get paid as soon as possible.
I have worked with all of these situations and more. I understand the extra steps and can help with every step along the way. I can personally help with some tasks, arrange for contractors’ to take delayed payment, get the estate, help with preparing the property for sale and find legal help to pave the way for a smooth transaction.
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