How to Sell Real Estate As An Estate Executor

Did you wake up to a phone call from an attorney telling you that you are now the executor of an estate? It is a massive responsibility that can feel overwhelming overnight.

I recently closed a sale that reminded me just how much guidance executors need during this process.

While I cannot give you legal or tax advice, I can walk you through the real estate side of things. Here is how we handle the process when you call me to sell a home that is part of an estate:

1. Confirm your authority. The very first thing I will ask for is your official appointment paperwork. You need to prove you are the person legally authorized to sell the home. It is vital to remember that as an executor, you are not the owner of the house. Your role is to represent the estate and ensure everything is closed out correctly for the beneficiaries.

2. Manage personal property. Before we can list the home, we have to deal with what’s inside. This is often the hardest part. You’ll need to:

● Identify personal items that family members or beneficiaries might want.
● Clear out the remaining items to get the house ready for the market.
● Find reliable people to help remove what’s left over.

Just remember, because you don’t own these items personally, you have to be careful and fair about how they are distributed or removed.

3. Check for liens and mortgages. Many executors don’t realize that there might be hidden debts attached to the property. You need a clear picture of any mortgages or liens against the house before you start the selling process. Knowing exactly what you are up against financially will prevent major headaches later on.

4. Handle maintenance and inspections. If the home is older, it might have some deferred maintenance. While you shouldn’t jump into major updates without permission, you do need to address the home’s condition.

A common mistake executors make is thinking they aren’t responsible for disclosing the home’s condition. I highly recommend a pre-inspection. I recently helped a client sell an older home where a pre-inspection revealed major issues early on. Because we knew about them upfront, we could remedy the problems, and the buyers knew exactly what they were getting into. It makes the whole transaction much smoother.

Selling estate property is about clearing hurdles before they trip you up. If you want to move forward intelligently and avoid common mistakes, I have a helpful pamphlet that outlines these steps in detail.

If you would like a copy of my guide for executors, please feel free to contact me at (607) 795-2904 or vickischamel@kw.com. I’m happy to share it with you.