What is an Estate Sale?
An Estate sale is a sale of property (Primary Home, Cottage, Second home) that has become recently available due to deceased homeowners with the intent to liquidate the home and all the assets included. Estate-sales are usually initiated by the owner’s relatives or heirs. If they choose not to live in the inherited home, they may sell it to pay for any owning debt on behalf of their loved ones.
Who Is qualified?
The surviving family or who is listed as the heir to the property inherit the home. If the house has been left equally to both siblings, the two children receive equal ownership of the house upon death.
You should strongly consider your choice of a real estate agent!
The right agent will work with you to find a buyer and prepare the property you’re listing to sell for a fair market price. Since agents have been through the selling process many times before, they can also help you deal with your personal schedule and complicated timelines. Achieving the best value for the home is a combination of proper preparation of the home, including staging the home for sale when appropriate, a comprehensive marketing plan, and a correct pricing strategy. Selling a family or a loved one’s home can also be a very emotional time and the right person will have sympathy and understanding for your role, a good understanding of the legalities of the sale, as well as working tirelessly on your behalf to make sure that the best outcome is achieved and your responsibility to the estate is fulfilled.
Selling an estate home isn’t a simple process. But with some good professional advice, you can reduce your stress and efficiently serve the beneficiaries involved.
*For more information visit these sites! Retrieved from: What is an Estate Sale and How Does it Work? Aviara Real Estate,2020 and How to Buy a Home Through an Estate Sale. Casey Hynes, 2020.*