Selling a Loved One's Home

After the death of a loved one, having to go through the estate settlement process can be very difficult.  Not only is there plenty of new things to learn during the process, the cleaning out of the home the decedent lived in and going through their things wears on the emotions of those whose hands this job has fallen into.  These practical tips should help the process go smoothly: 

 

• - First and foremost, make sure doors and windows are secure, and any valuables are safely stored away, preferably in a safe deposit box. Valuables include anything that connects to the internet:  smartphones, tablets, and computers. 
• - Gather all key paperwork about the house and other property: a will, if there is one, insurance papers, warranty information, tax information and utility bills.  The executor will need to have all this handy.  
• - Make certain the neighbors are aware of the death, and ask them to look out for the empty home.  

• - Once the executor has been appointed, no matter what the situation, make communication with the others involved an absolute must.  Like any life situation, if there’s a communication breakdown, problems abound. 
• - After the funeral, it’s time to begin thinking about the cleaning out of the home. Go through one room at the time.  Let go of the emotional attachment, deciding what you or other family members would like to keep, and what to get rid of.   
• - Many families decide to have an in-house estate sale. Set everything up in categories, and mark prices clearly.  Price them to sell.  If there’s any speculation of something being an antique, have it appraised. 
• - Once the house is cleaned out, contact a Realtor to help you get the house ready for the market.  Updates may be necessary for the best price, so be prepared to make changes to the home. 
• - Some elderly people have lived in the same house for fifty years, and never changed so much as the carpeting.  If you decide to sell as is, your Realtor will know how to set the price; don’t let your emotional investment in the home translate to dollar value.  Not all buyers are looking for vintage decor. 

• - Once the home is sold, familiarize yourself with inheritance tax information.  The IRS has an FAQ section for inheritance sales that will guide you through that process.  

Don’t dread the process.  Many Realtors have already served a family in your situation, and can offer advice on many aspects of the sale, so ask questions when the time comes. This last job can be a labor of love if you allow it, so honor your loved one with a smooth sale and closing of their estate.  

 

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Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Photo credit: propertymarketinvestor.com