In this Knoxville Insider Issue…

🌤️ Real Estate Edition - Managing the Sale of a Family Home After Loss
 

Managing the Sale of a Family Home After Loss

At some point, we all must face the heartbreaking reality of losing a loved one. Beyond the emotional toll, those left behind often have a long list of responsibilities to manage, including selling the family home. This process can feel overwhelming, but taking it step by step can help make it more manageable.

Here are a few important recommendations for families navigating the sale of a loved one’s home:

1. Gather Important Documents

Before listing the home, ensure that all necessary paperwork is in order. This includes:

• The will or trust to determine who has the legal authority to sell the home.

• The death certificate, deed, and mortgage documents.

• Probate documents, if required. If the home is in probate, consult an attorney about legal requirements to ensure a smooth transaction.

2. Secure and Assess the Property

After a loved one passes, it’s important to secure the home and evaluate its condition. Steps to take include:

• Changing the locks, if necessary, to prevent unauthorized access.

• Setting up mail forwarding to avoid accumulating unattended mail.

• Checking utilities and addressing any urgent repairs, such as plumbing leaks or HVAC issues.

• Walking through the home to take inventory of valuable or sentimental items.

3. Sort and Clean Out Belongings

Going through personal belongings can be an emotional process, but it’s a necessary step. Consider the following approach:

• Divide sentimental and valuable items among family members.

• Donate or sell unwanted furniture, clothing, and household goods.

• If there are many remaining items the family does not wish to keep, consider holding an estate sale to generate funds for the estate.

4. Work with a REALTOR and Title Company

To avoid delays in closing, it’s crucial to work with a REALTOR and a title company early in the process:

• Your REALTOR can guide you through listing the home and attracting buyers and will review recent home sales in the area to get a fair market comparison.

• Provide all necessary documentation to the title company so they can begin the title search and uncover any potential issues before closing.

• Address any liens, unpaid taxes, or title discrepancies that could hinder the sale.

Selling a loved one's home is both a legal and emotional process. While it may feel overwhelming, breaking it down into manageable steps and working with professionals can make the transition smoother. If you need guidance, I’d be happy to help answer any real estate questions or assist with the sale of your loved one’s home.

Ask a Realtor/Broker😀 

Got questions about buying or selling? Feel free to reach out! Whether you’re curious about how to get started or want advice on maximizing your home’s value, I’m here to help with all your real estate needs.

The Real Estate Edition Issue brought to you by Barbara Newton. She can be reached at [email protected]

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