What to Do With Real Estate When a Loved One Passes

When your loved one passes away, not only are you dealing with grief but there is also often the complicated issue of dealing with their estate. Most of the time, the will is pretty straightforward, as long as no one contests it, but it can become complicated when real estate gets involved.

Consult the Will

The first thing you should do is consult the will and make sure it is going through the proper probate process. The will should outline how everything is to be divided and whether someone gets the property, or it is to be divided between the heirs. Assuming the will is legally binding, this should help direct your efforts in the right direction. If you are the executor of the estate, it will be your job to oversee the process of transferring the property to the new owner or making sure it is divided properly.

Remove Belongings

Once you know what is happening with the property, it is time to start the moving process. If all of the assets have been divided up properly, then the heirs should set up a time to come collect their inheritance. If there are things that haven’t been divided up, it would be a good idea to have a family meeting to decide who gets what or if some things should be donated, sold, or thrown out. Because it is a good idea to have everyone present or at least included before decisions are made, you may need to rent a small storage unit to store things in. This can also be useful if some people are out of state and need to travel.

Sell As-Is

If the property is supposed to be divided among the heirs or the person who inherited the real estate property doesn’t want to keep it, one of the best things you can do is to sell it quickly. Selling it as-is allows you to preserve the value of the real estate and not have to deal with the repair timeline. Cash home-buying companies are a great option, since not only will they buy homes in any condition, they are able to move pretty quickly. They don’t have to line up financing. They simply appraise your home, make an offer, and you can quickly close after. Sometimes you can even have the home sold in seven days.

While some estates can be complicated, don’t let the process take over your life, even if it is your responsibility to deal with it. It is important to take some time to mourn the person you love, while still making sure their final wishes are still carried out.

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