No matter how prepared you might be, the task of selling California residential or commercial property to settle an estate can be daunting. As the Executor or Personal Representative of the estate, you face an array of fiduciary responsibilities.
Fortunately, you don’t have to face this alone. A good probate attorney and an expert probate real estate broker will help you manage your duties. Your main tasks will involve:
- Seeing to the immediate care of any dependents and pets.
- Obtaining copies of the death certificate and probate orders, and notifying the appropriate parties.
- Collecting and inventorying the decedent’s assets. This includes real estate, bank accounts, life insurance policies, vehicle titles, personal property, etc.
- Paying the decedent’s creditors and obligations, including outstanding private and public debts, utility payments and any taxes owed.
- Distributing the estate assets to designated beneficiaries.
Dealing with the decadent’s real estate can be the most overwhelming part of the process. Very few people pass away with their homes and businesses in perfect order! You may walk into the decedent’s home or commercial property and find it filled to the brim with furnishings, clutter and thousands of items you have no idea what to do with. You might also find the property in disrepair and in need of immediate attention.
No matter how bad it is, your probate real estate broker has probably seen worse. Do not be embarrassed to let your broker into the property as-is. Your broker will evaluate the condition of the property, and offer immediate recommendations.
One of the first steps will be to secure the property, including the changing of locks if needed. Utilities to the home must be maintained during the probate sale process. Garbage must be removed and perishable foods discarded. Your broker can help arrange for removal of clutter, storage of personal property and general clean-up and repairs. Be sure to save receipts for any expenses paid.
As your probate broker, we will ensure that the home or commercial property receives an accurate market evaluation, and a customized strategy for a swift, top-dollar sale. Our probate court experience and real estate expertise will take much of the worry out of the probate sale process. Our proactive, skilled approach helps avoid many of the pitfalls and delays that can occur in a probate sale.