It’s always a difficult time to get through when a loved one passes away. First and foremost, there’s the grief and loss. This can be overwhelming enough, but then there are also masses of decisions and plans to be made, from organising funerals to navigating the legal side of wills.
When you’ve lost someone close, you could be left with the responsibility of managing the deceased estate. It’s a big responsibility, especially when facing a wave of emotions and uncertainty.
Luckily, you don’t have to navigate that journey alone. You need a stable guiding hand from somebody like The Henry Wong Team®, who has been through this process countless times before and can help you achieve the best possible outcome from the transaction.
Today we’re going to take a look at some key points to keep in mind when selling a deceased estate, which hopefully will help you understand the process and how we can support you through it.
Confirming Legal Authority to Sell
Before any sales process can begin, there needs to be legal authority to deal with the estate. This usually comes in the form of:
- A Grant of Probate if the deceased left a valid will, or
- Letters of Administration if there is no will.
These are issued by the Supreme Court and give the executor or administrator the power to sell the property. At The Henry Wong Team®, we aren’t legal experts. We can connect you with legal professionals in our network though. They are experts in estate matters and will be able to advise you through the process.
Timing the Sale
There are a few things to think about when it comes to timing the sale of the home. Has the legal authority to sell been confirmed? Are all the beneficiaries in agreement that this is the path that should be taken? Is the property currently occupied by family, vacant, or tenanted?
It’s a lot to juggle there. If you delay it too long after your loss, you could be further complicating the process. Then again, selling too soon could just be too overwhelming. We’ll help you make the decision at the right time – balancing emotional and practical considerations.
Preparing the Property for Market
Families selling a deceased estate often have concerns regarding the state of the property. Maybe it has fallen into disrepair, chances are also strong it hasn’t been updating in many years and needs modernising. It could also be filled with cherished possessions that need to be sorted through.
When you prepare a deceased estate for the market, it’s not all that different to selling any other home. We can link you with the right professionals to undertake things like repairs and maintenance around the property; preparing the landscapes for maximum visual effect; and even staging the home to help buyers see it’s potential.
This is a stage that needs sensitivity and consent from all parties, and we’ll approach it in a way that preserves the legacy of the home and honours your memories.
Valuing the Property
The Henry Wong Team® is appraising properties daily all across Brisbane, so rest assured we have the strategies in place to come to a fair valuation of your deceased estate. We draw on recent comparable sales, buyer demand, and in-depth market knowledge to determine an accurate and realistic figure that reflects the property’s worth and your own goals as a family member.
Choosing a Method of Sale
You have a choice of either selling via a standard private treaty, or putting your house to auction. We’ll advise you which is the most fitting way based on your needs, circumstances and the home itself. Many people opt for an auction when it comes to a deceased estate. These generate strong competition and draw to a conclusion within a specified time frame, which is useful for decision-making purposes.
Communicating With Beneficiaries
Poor communication can heighten emotions that are already under pressure. When selling a deceased estate, there are multiple stakeholders to be kept updated all the time, from family members to legal representatives and home residents. This needs to be done professionally, promptly and clearly. We’ll take care of the communications around your home, removing that stress from your shoulders and helping create harmony with all stakeholders.
Finalising the Sale
Once the property is sold, you will be guided through the settlement by your solicitor or conveyancer. The proceeds are then distributed to the correct parties according to the will or intestacy laws. The Henry Wong Team® is there to support you through all of this and answer any questions you may have. After everything is concluded, we’re here to help you in all things real estate into the future!
Contact The Real Estate Team You Can Trust
At The Henry Wong Team®, we’ve supported many families through deceased estate sales. We understand what a difficult time it can be, and will help with balancing the practical steps with the emotional burden you’re feeling.
At the end of the day, it’s about delivering the best result possible for your family in a calm, empathetic way. If you would like that outcome for your journey, we’re here for a no-pressure chat. We’ll answer any questions you have, and advise what the next steps you should be taking are. Get in touch today.
