Selling a probate property is difficult to say the least. As the executor of the estate you are expected to handle the responsibilities you are given honestly and in a reasonable amount of time. The experience can be emotionally draining, time consuming, stressful, and practically overwhelming. On top of all that there are lots of individuals trying to make a dollar off of your difficult situation, by taking advantage of you and your loved one’s estate. Don’t let yourself be fooled; here are a few individuals to keep a look out for, and how to handle them.
Before your loved one has passed there may be opportunists who will try to gain control of assets within the estate. When someone forces your loved one to give up belongings, or change estate documents against their will it is known in the legal world as undue influence. These opportunists can come in many forms; disgruntled family members, wannabe heirs, financial professionals, and medical or social workers are just some of the sources of this abuse. The best way to handle this situation is to prevent it; be aware of anyone who may try to influence your loved one against his or her will. If you are unable to prevent undue influence then you will need to turn to your lawyer for help. Keep records of your loved one’s medical records especially if they suffer from any mental illness that could impair their ability to make decisions.
As the executor of a loved one’s estate you likely have been bombarded by cash buyers looking to ‘help’ you by offering to purchase the estate property. These cash buyers will try to persuade you with a quick transaction, no closing costs or fees, and no repairs; sounds great right? What they don’t tell you is that often times you can easily receive tens of thousands of dollars more for the probate property simply by hiring an experienced probate real estate agent who will guide you through all the details of selling the probate property. Having proper guidance and representation will make all the difference with the ultimate financial return you receive for the estate, so don’t take what may appear to be the ‘easy way’ out by choosing a cash buyer unless you have all the facts and are instructed to do so by your probate attorney.
When looking to handle any repairs to your probate property it can be difficult to determine if you are being pushed into paying more then is necessary. Some repairs are essential to sell a property without significant loss, while others are just fluff work that won’t provide a significant, if any, gain when sold. Again if you have an experienced probate real estate agent, like me, who has helped hundreds of executors and administrators with a probate property, that agent will be able to help you determine what repairs are worth the cost. An experienced probate real estate agent will also be able to introduce you to repair companies that they have worked with previously.
Remember that in any of these situations there is always a helping hand available from the experienced professional you have hired. Your probate attorney will provide you with legal help regarding the estate, and your probate real estate agent will be there to simplify the details of a probate real estate transaction. If you take the time to find experienced representation you will find that the role of executor will be much easier to grasp. I have helped many executors, administrators and trustees make important decisions regarding their loved one’s estates.
To get accurate answers to your questions and experienced guidance, call me, Charlotte Volsch at (760) 912-8905.