When a parent dies, it may happen that one must act as liquidator of the estate, that is to say the legal manager of all of the deceased’s assets. When selling the deceased’s home, the liquidator must take several steps to ensure a successful sale.
Using my services as a real estate broker will allow you to navigate through this ordeal with the certainty that everything is in order. I can guide you to other trusted professionals if necessary.
First of all, it is important to take precautionary measures towards the house to preserve its value. The liquidator must ensure basic maintenance of the building, pay the bills (mortgage, maintenance, utility bills, municipal taxes, etc.) and redirect the deceased’s mail to your home. Additionally, it is recommended to change the locks of the house for security reasons.
Next, the liquidator must ensure that he has all the necessary authorizations and permits for the sale of the house. The disposal permit must be issued by each level of government, confirming that the deceased’s taxes have been paid and that the liquidator can proceed with the sale or distribution of the property. Lack of authorization may result in costs and liability to pay the liquidator’s debts.
It is also essential to set and approve the sale price of the house. A broker can determine the fair market value of the property, without renovations, and thus obtain a sale price approved by the heirs and avoiding any dispute. Selling the property with a real estate broker greatly facilitates the process.
It is important to empty the house and present it for sale. Items under $100 can be disposed of without delay, but it is advisable to prepare the home for sale in a way that presents the home in its best light to potential buyers. This step can be a lengthy process, but it is recommended to put the house up for sale as soon as the disposal permits are issued. Once again, as a broker, I will be able to guide you by targeting the actions to take to facilitate the sale of the property
Finally, two final checks are essential. You must ensure that you have all the necessary authorizations for the sale and include the following statement in the brokerage contract and the sales contract: “The sale is made without legal guarantee of quality, at the risk and peril of the buyer . »
Additional Tips for Selling a Deceased Loved One’s Home:
- Avoid letting your emotions take over. If you encounter any disputes with heirs or other stakeholders, try to resolve them quickly to avoid delaying the liquidation process.
- Make sure the house is properly insured. You may need to extend current home insurance or take out new insurance to protect the empty property. Expect to pay a premium.
- Gather all legal documents related to ownership and sale, such as title deeds, certificate of location and bank documents. This will make the sales process smoother and avoid any delays or potential legal issues.
In all cases it is strongly recommended to consult a notary to find out more.
