- Rushing to Empty the House.
Many valuable items are accidentally donated, discarded or given away before anyone determines their true value. TIP: Take time to inventory the home's contents before removing items, important documents, collectibles, jewelry, antiques and family heirlooms are often overlooked.
- Waiting Too Long to Begin.
Grief can make it hard for families to get started resulting in postponing decisions, but vacant homes still require insurance, maintenance, utilities, HOA dues and property taxes TIP: Create a plan early - even if the sale won't happen for several months. Break down the project into doable tasks.
- Not Understanding Probate or Trust Requirements.
Every estate is different. Some properties require court approvals, while others can be sold by the Successor Trustee without probate. TIP: Work closely with a Probate attorney and a REALTOR familiar with probate and trust sales.
- Spending Too Much on Repairs.
Families sometimes invest tens of thousands of dollars in renovations that buyers never fully appreciate. TIP: Determine which improvements truly increase market value before spending money.
- Pricing Based on Emotion Instead of Market Value.
It's natural to attach sentimental value to a family home, but buyers purchase based on today's market - not memories. TIP: Obtain a professional Comparative Market Analysis (CMA) before deciding on a list price.
- Overlooking Important Estate Details.
Forwarding mail, changing locks, maintaining insurance, securing valuables and caring for the property are often forgotten during an already stressful time. TIP: Creat a checklist so nothing falls through the cracks.
- Trying to Handle Everything Alone.
Estate administration often involves attorneys, accountants, title companies, clean out services, appraisers, contractors, estate sale companies and REALTORS TIP: Build a trusted team of professionals who can guide you through each step.
REMEMBER .... Selling an inherited home is about much more than real estate. It's about honoring a loved one's legacy while making sound financial decisions for the future. If you need guidance, I'm here to help.
Catherine "Cathie" Abeel - HomeSmart realtor - SRES
GOOD LIFE ~ BETTER LIVING
Former Probate Investigator & Deputy Public Administrator
Serving Arizona Families with Care.
