Selling a home after the death of a loved one can be very different from an ordinary real estate transaction.
The property may contain decades of belongings. Family members may live out of state. The home may need repairs or updating. Several heirs may be involved. An executor may be trying to manage a property while also handling legal and family responsibilities.
The first question is often:
Where do we even begin?
I help executors, heirs and families throughout Camden, Burlington and Gloucester Counties understand the real estate side of selling an estate or inherited property.
Start With the Property's Market Value
Before cleaning out the house or spending money on renovations, find out what the property could realistically sell for in its current condition.
That gives the family a starting point.
From there, we can discuss whether selected repairs or improvements are likely to help, whether the house may be suitable for an AS IS MLS sale or whether another selling option should be considered.
Do not assume an inherited home has to be completely remodeled before buyers will be interested.
Does the House Have to Be Empty Before It Is Listed?
Not necessarily.
Every situation is different.
Some families want to remove everything before marketing begins. Others need help determining what should stay, what can be sold or donated and what can be removed later.
Estate sale companies, organizers, donation services, movers and cleanout professionals can often make the process easier.
I can help you think through the sequence so you are not spending money or energy unnecessarily.
Should We Repair the Property or Sell AS IS?
This is one of the most important financial decisions in an estate sale.
A dated home is not necessarily an unsellable home.
Depending on the neighborhood, condition and buyer demand, the property may benefit from simple improvements, more substantial preparation or an AS IS sale through the MLS.
Selling AS IS also does not automatically mean selling directly to an investor.
Open market exposure may allow traditional buyers and investors to compete for the property.
My role is to help you understand the likely advantages and disadvantages of each approach.
What If the Executor or Heirs Live Out of State?
I frequently work with sellers who cannot be physically present for every appointment.
A local real estate professional becomes especially important when the family is several hours or several states away.
I can help coordinate access for photographers, inspectors, appraisers and other real estate related appointments while keeping the appropriate family members informed throughout the transaction.
Working With Attorneys and Other Professionals
Estate transactions may involve probate, title matters, estate documents, taxes or other legal issues.
As a Realtor, I handle the real estate portion of the transaction and coordinate with the professionals involved.
My former paralegal background also helps me appreciate the importance of documents, communication, deadlines and organization, although I do not provide legal advice.
I recommend that sellers obtain appropriate legal and tax advice for their individual circumstances.
A Real South Jersey Estate Sale Success
In one Pennsauken estate sale, the home was listed for $349,900, generated multiple offers and ultimately sold for $368,000.
That does not mean every estate property will achieve the same result.
It demonstrates why understanding the local market and exposing the property to buyers can matter before automatically assuming the home must be heavily renovated or sold directly to an investor.
Selling an Estate or Inherited Home in South Jersey?
You do not need to clean out the entire house before you call.
Let's first determine:
- What is the property worth?
- What should be done before selling?
- Would traditional or AS IS marketing make the most sense?