A BRIEF GUIDE TO SELLING A DECEASED ESTATE

By February 26, 2021Selling Tips

The loss of a loved one is never easy, and at times it comes with the additional load of things to do, including selling a family home or other property included in a deceased estate. A very trying and emotional time for all.

If you will be handling the sale of a Deceased Estate, take a deep breath and take your time. Ensure you have the right people by your side to ensure you have the right support, compassion and professional advice that you can count on.

Legal advice through a solicitor or public trustee is essential to guide and set you up on the right road. At times this can be a reasonably quick process depending on different circumstances and if there was a Last Will or Testament.

Executors and administrators of deceased estates must be authorised to administer the estate before they deal with the estate assets—a grant gives that authority.

Guide to Probate and Deceased Estates

Once a grant for Probate is in place you are then able to engage a real estate agent.

Prepare the property for sale

Be on top of all costs associated with the property sale. This may include things like maintenance, cleaning, moving, possible tax fees, agent fees. Who will be paying/responsible for these costs/fees? Should you set up a dedicated account?

If there are beneficiaries, take the time to discuss the sale of the property. Things like asking price, is there a dedicated contact/spokesperson who deals with the agent or do all want to be included in the correspondence.

Moving forward with the sale, speak with your estate agent about the following:

  • Timeframes for sale.
  • Will the property be sold via private treaty or auction?
  • Do you have a set price? Price guide will be given with good knowledge of the local market.
  • Are there specific instructions in the will that you will need to abide by?

Straight, clear, professional advice is essential in this process. Empathy and compassion are a necessity.

Ensure you choose the right agent to help you with the best possible outcome and a smooth process. We can guide you through this very painful process and help make it all just that little bit easier.

Photo credit: Wez Pitt

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