Today’s topic is an important one: How do you approach a house sale in San Diego with a death in the family? In this video, we will discuss the process to sell a house in San Diego with a death in the family.
My name is Emily of Trusted House Buyers and it’s important to understand the steps to selling your home in San Diego when there has been a family death, so thanks for tuning in today.
When a loved one passes away, there are many questions that must be answered and many decisions that must be made. One very sensitive issue that may be on the mind of some of the decedent’s relatives is what is going to happen to the house of the decedent.
The first course of action is to check the legalities to see if there is a will or trust in place. If there is no will or trust, it can be a very expensive and time consuming process. It’s much easier for the family when there’s a will or trust because without one, the estate distribution will be decided by a probate court. The court will determine who inherits the estate and has the legal right to sell any property in the estate. Despite what the family may want to happen to the deceased relative’s, the future of the house will depend on the decedent’s wishes as stated in his or her will.
If there is a will or trust and you are the designated seller, the responsibility becomes yours. While some may look forward to selling the house for financial reasons, others may want to keep it for sentimental reasons. This decision can be an emotional and oftentimes, stressful one for the family.
If you are looking to sell the house, you may need to start by asking anyone who is currently living in the house to relocate. Once the house is vacant, change the locks to secure the property. You will need to remove all personal items for the house because all prospective buyers will want to see the home listed in tip top shape. But this can be a very costly process, especially if the home is in need of repair or renovation. At Trusted House Buyers, we have dealt with sensitive situations such as these time and time again and recognize the burden it can place on the family to go through the many steps it takes to prepare a home for listing on the San Diego market. When you are grieving and dealing with the loss of a family member, this task can be quite daunting, and not to mention, an expensive one.
If the executor decides to sell a house that is part of the estate of a relative, the executor must make sure the transaction is in the best interest of the estate. First you must figure out how you want to sell the house. If you use a real estate agent, you’ll need to work with them to get a reasonable asking price, show your house to prospective buyers, and eventually go through the negotiations of the house closing and sale. If you choose to use a solutions based investor, like Trusted House Buyers, you won’t need to list the house, show the house, or do cosmetic renovations. Trusted House Buyers will take the home as-is and pay all cash. It makes the process quicker and more convenient.
It is important to note that if an executor sells the house the proceeds will go to the estate. Depending on the reasons for selling the house, the executor may use the funds to pay estate debts, or may be required to turn over the funds to one or more of the beneficiaries. When managing estate assets, the executor must always do what was stated in the will, and what is in the best interests of the estate.
Here’s the bottom line: when a loved one passes and leaves a property in their will it can be a very big financial decision for the family. There are many choices to make and it can put added stress to an already grieving family. One final idea that is the simplest, is to consider liquidating your home, no matter the condition. That’s where someone like Trusted House Buyers can help. We can offer you a cash offer, take your home as-is and close on your terms. For more information on how we can help you sell your San Diego home after a death in the family, you can always call us at Trusted House Buyers by dialing, 619-786-0973.