Estate Sale Real Estate
Today I wanted to cover a topic that has unfortunately been coming up a lot – Estate sale, Real Estate. With the sad and sometimes even sudden passing of family members, clients are reaching out to me who have been left with dealing with the sale of their parents, or a family member’s estate. Dear reader, I am so sorry for your loss, and I am here to help guide you through these difficult times. I have come up with an Estate Sale Real Estate Package (CLICK TO SIGN UP FOR OUR GUIDE) for my readers who are considering listing their families home after the loss of their loved one, or if you are proactive and want to be prepared for your own passing. It is a delicate and emotional subject and I am here to help you, educate you and make it as simple as possible throughout this entire sale. So quickly, let’s discuss the Estate sale, real estate.
Good Estate Planning – Pre-Passing Preparations
What should you get in order? As morbid as it seems, a “when I die” file is crucial in ensuring your wishes are fulfilled. What should you include? I outline exactly what information you should have in your file folder for your loved ones in my guide. A designated folder with your Will, banking and social media passwords, etc. If you are on the other end of this, as a loved one dealing with the loss, I hope your family member has passed with good estate planning behind them, if not, continue to the next section.
Passing Away Suddenly
This is so crucial to speak with family and friends about who your executor is. Your Executor should be someone who has time on their hands and has agreed to take on this role for you as it can be quite time-consuming. Your family should know, along with having copies of your will.
If your family member has passed away suddenly you want to be sure to get multiple copies of the Death Certificate from the doctor, coroner or statement of death from the funeral director as you will be asked for this in many instances. Check to see if they have left behind a will. A will is a legal document that sets out who will inherit the property, possessions and other personal items left behind. A copy of the will may be in their home, in their safety deposit box or with their lawyer. If there is a will, a “probate” court may or may not need to determine that it is legal, and this process can take anywhere from 2 to 8 weeks. If a court has determined that a will is legal, it also grants “probate” or approves an executor to follow through with the wishes of the deceased person. This executor is often named in a will, that is why it is so important to speak with friends or family ahead of time so they can be prepared and not be shocked if they suddenly have to put their life on hold. If you are named as the estate trustee or executor, you are authorized to administer the estate of the deceased person. You are therefore considered the deceased person’s personal representative and will have to carry out their wishes as stated in their will. (Visit Ontario.ca for a helpful guide)
If there is no will, “an estate is distributed as according to the law” (Ontario.ca) be sure to contact a lawyer. It is important to communicate with the REALTOR® (me, Trish Duncan) on the timelines for probate so we are able to negotiate a closing day AFTER the probate period so the title of the property CAN be passed on to the new owners.
When in a situation where the family member is getting sick and knows they may pass, they can contact a lawyer to begin transferring Title. Transferring title must happen before taking possession of the property and selling the property. Transferring title also happens once you sell the property, giving the new owners legal rights to the home.
Read some testimonials from clients of mine who have gone through this process. Want more testimonials from past clients of my real estate services? Check out our about us page.
Testimony: Lesley R.
“The team of Trish and Tarynn made selling our father’s home (in Meaford) one less thing to worry about. From the very beginning when I first met them – when they came to do a free appraisal – I felt comfortable with them. Additionally they complement each other very well; a great team. They easily accommodated the additional challenges of probate, and multiple widely dispersed sellers (different time zones and countries). A few statements that summarize the experience
- Very organized
- Excellent communication
- We knew what was going on, and what to expect next and when.
- Any questions we had were quickly answered, any day / night of the week.
- Thorough knowledge
- Genuinely friendly and helpful
- Big energy
We feel lucky to have found them and would, without reservation, highly recommend them.”
Testimony: Katherine C.
“I was 3 hours away from the property and completely relied on you [Trish] to:
- Deal with tenant
- Arrange trades
- Make decisions- that turned out to be the right ones ie when to list, price, accept offers vs hold offers
In other words complete trust throughout the entire process. Would not hesitate to recommend you.”
So dear reader, thank you for taking the time to read my blog, and considering me as your local REALTOR®. I understand this is a sensitive time that needs education, guidance and a friendly compassionate face. I want you to feel comfortable and confident in your choice of me as your REALTOR® here in Southern Georgian Bay. Do you still need more information? Be sure to download my helpful information package on estate real estate to get started. Interested in discussing further about your family’s unique real estate needs? CONTACT ME TODAY and let’s chat!