The sale of an estate already requires a lot of skill and attention. Furthermore, it is a much more complex transaction than a regular sale. It requires more documents and specific knowledge of estate law.
You must surround yourself with professionals experienced in these types of transactions. I am one of them. And since I work closely with notaries, you get all the services you need to face this difficult situation under one roof.
It is with kindness that I guide you through this process. Because you shouldn’t think you can just put a property up for sale the day after a death. No. You must be patient and follow the steps to ensure that everything is done according to the law.
The day after a death, you will need to obtain a death certificate from the Director of Civil Status and carry out a will search. If real estate is part of the deceased's estate, you will also need to trace the deed of sale that proves the deceased's ownership and several other documents related to the property, which your notary can provide you with a list of.
It is the liquidator – formerly known as the executor – who is tasked with putting the property up for sale. If no liquidator is appointed, all decisions must be made unanimously by the heirs, and each of them will need to sign all required documents.
Exclusion of Guarantee
Now let’s talk about the conditions of the sale. It is common to exclude the legal guarantee of quality in an estate sale. This is understandable. Since the owner has passed away, it is difficult, if not impossible, to obtain all the information about the condition of the building.
The heirs, relieved of a responsibility they could not assume, are thus protected from a lawsuit for hidden defects.
A Quick Sale
An empty house is costly! That’s why we aim for the transaction to close quickly. We understand that heirs want to limit the costs of owning the property. We are talking about mortgage payments, if applicable, but also property taxes, insurance that is often higher when the house is empty, building and land maintenance, energy costs, etc. The longer the time passes, the higher the bill climbs.
A Neutral Intermediary
Who takes care of the visits? And who negotiates the sale price? Will the other heirs be satisfied?
Of course, if there is only one heir, everything is simpler. But if the estate involves several people, you will be glad to have a neutral intermediary to handle the transaction. There are enough potential causes of conflict in an estate, and if the friction around the property sale can be avoided, everyone wins.
Selling the House at a Bargain Price? Of Course Not!
I talk about exclusion of guarantee and quick sale. Does this mean you have to sell at a discount? Not at all!
A well-maintained property, skillfully highlighted, and priced correctly will always find a buyer. Whether it comes from an estate or not. Here, my experience speaks for itself!
In Conclusion
You won’t often have the opportunity to be involved in an estate sale, fortunately! However, if it were to happen, it’s better to be prepared and know who to contact quickly.
If you have any questions on this matter, if you need advice or the assistance of an experienced broker who has the necessary skill for these sensitive situations, I invite you to contact me.
It would be my pleasure to guide you to ensure a satisfactory sale, in compliance with the laws and respect for your family, while protecting each of the heirs.
