10 Tips to Selling Your Probate Property

Selling a home in probate can be complex and time-consuming.  Yes, it is like selling another home but the legal system has a say.   However, by following these 10 tips, you can make the process easier and more efficient.

1. Get organized.

The first step in selling a home in probate is to get organized. In Alaska, this means the personal representative must gather all of the necessary paperwork, including the death certificate, the will, and the property title. You will also need to contact the probate court or your probate attorney to be sure you have everything in order to move forward.

2. Hire an experienced real estate agent.

Selling a home in probate can be complex, so it is important to hire an experienced Realtor who is familiar with the process. A good Realtor will be able to help you price the home correctly, market it effectively, and negotiate with potential buyers.  In addition, they should be understanding and empathetic to the needs of the family members who may still be grieving.

3. Make necessary repairs (Get a Seller’s Home Inspection)

Before you put the home on the market, you will likely need to make repairs. You might know about some like a leaky faucet, painting the walls, or replacing the carpeting in an extra bedroom.  As a seller, you can do a home inspection and get a list of things to be taken care of you may not know. By making the needed repairs, you will make the home more appealing to potential buyers and increase the chances of getting a good offer.

     4. Clean out and clean up

Cleaning out a home ahead of a probate sale involves thoroughly decluttering and organizing the space to showcase its potential to potential buyers. Yes, it can be difficult when it comes to those personal items.  Prioritizing deep cleaning can also enhance the property’s appeal and maximize its value during the sale process.  If you need help, talk to your Realtor as they may have vendors who help with this.

     5. Price the home correctly.

Pricing the home correctly is one of the most important steps in selling a home in probate. If you price the home too high, it will sit on the market and you will not get any offers. If you price the home too low, you will lose money. A good real estate agent will be able to help you price the home correctly.

    6. Market the home effectively.

Once the home is priced correctly, you need to market it effectively. This means listing the home on the multiple listing service (MLS), advertising it in local newspapers and online, and holding open houses.

    7.  Be prepared to negotiate.

When you receive an offer on the home, be prepared to negotiate. This may involve negotiating the price, the closing date, and the terms of the sale. A good real estate agent will be able to help you negotiate on your behalf.

    8.  Get title insurance.

Title insurance protects you from any legal claims against the title to the home. It is important to get title insurance when you sell a home in probate.

9. Close on the sale.

The final step in selling a home in probate is to close on the sale. This involves signing the deed and transferring the title to the new owner.

10. Distribute the proceeds of the sale.

The proceeds of the sale of the home will need to be distributed to the beneficiaries of the estate. This may involve paying off any debts of the estate and distributing the remaining proceeds to the beneficiaries.