Go Back
Keller Williams Boise

Real Estate Options After the

Death of a Loved One

Request Information

The death of a loved one

The death of a family member is never easy. In the midst of emotional angst from your loss you’re also tasked with addressing several tough decisions and seeing them through to completion. You may feel overwhelmed, confused, and at times, you may want to throw up your hands.

Real Estate & Death

This article addresses one of the bigger decisions and associated tasks – what to do with any property, specifically, a home after the death of a loved one?

Real Estate & DeathTransfer of Real Estate

When a person dies without a will the real estate will pass to the most direct heirs; if a will is involved, it will pass to the beneficiaries under the will. In most cases, the children do not need a court or executor to transfer the property to them as it passes to them naturally. This, of course, may create the first hurdle if the executor of the estate has been charged with selling the property upon death and distributing the proceeds of the sale. For example, if the heirs of the deceased had two children, without a will, the property would naturally pass to both children. In this instance, both children would need to approve the sale of the property as both now own the property – but if one child was named the executor of the will and has been authorized to sell the property and distribute the proceeds, only the executor has the authority and responsibility to sell. So, all this naturally raises the question, who is authorized to sell/transfer the home?

Debt & Bills

The executor of the estate, using funds of the estate, is responsible to settle debts and pay the bills after the death. Do not pay the deceased debts using your personal funds – there is no obligation or guarantee that you will be reimbursed by the estate especially if the estate is insolvent. In fact, if the estate has greater liabilities than assets, you must pay the debts based on the priority outlined for your state or you may find yourself personally liable for debts paid outside of that priority list.

Be sure the estate continues paying any mortgage payments, utilities, pool services, landscaper service until the home is sold – inversely, remember to cancel services not needed in an unoccupied home, services such as internet, television, telephone, water delivery service, etc. – and it’s also helpful to forward the mail to yourself.

Documents

This is an occasion when it’s extremely helpful if you already know where important documents are kept – both at home and safe deposit boxes. You’ll want to locate the will, investment documents, insurance documents, homeowner documents, vehicle titles, bank account documentation, receipts of bills, and bills that must be paid again, (do not pay them from your personal funds).

Home Too Small

Listing the Home for Market

You’ll want to enlist the assistance a local REALTOR® early in this process. They will help you understand the market and provide professional advice in preparing the home for sale. It is especially important to rely on the advice of a REALTOR® if this is a home with strong sentimental attachments. It isn’t uncommon for emotional attachments to impede the removal of furniture, wallpaper, paint, fixtures, etc., and while these tasks may not be necessary for sale, not listening to the advice of your REALTOR® may adversely impact the resale value of the home and dramatically increase time on the market.

Legacy Real Estate Co.

Legacy Real Estate Co.

208.917.8339

LREC@idaholegacy.com

www.IdahoLegacy.com

Request Information

Service Area

Boise, Idaho – As the fastest growing metropolitan area in the country, the Treasure Valley is simply exploding in growth.  While much of this growth has primarily affected Boise, Meridian, and Nampa, the growth finds itself even spilling into communities such as Middleton, Kuna, and Caldwell. Bottom line, now is an amazing time to consider listing your home – especially true if you’re looking to move a little further from the dominant growth communities.

Legacy Real Estate Co. with Keller Williams Realty Boise

Request Additional Information

Step 1 of 3

33%

Your Local Real Estate Expert

Legacy Real Estate Co.

Legacy Real Estate Co.

Legacy Real Estate Co.

208.917.8339

LREC@idaholegacy.com

www.IdahoLegacy.com

At the heart of our business is the impact of Idaho real estate over lifetimes. From seller to buyer, to the families that live inside these homes, Legacy Real Estate Co. is in the business of sharing your story, sharing your legacy. Founded on the principles of Family, Community, and Humanity, Legacy Real Estate Co. is committed to helping current and future clients design the life they want to live – in the community they want to enrich – one dream home at a time. Committed to the impact and desire to give back, Legacy Real Estate Co. also contributes their time and resources to greater humanitarian efforts.

Whether starting a legacy with First-Time Home Buyers or working alongside Sellers in continuing their legacy, Owner & Realtor® Jenn Weiss brings years of experience from over 100 home transactions. She is passionate and committed to providing an avenue for professional agents to thrive at their very best while creating their own legacy. In unity and as your trusted real estate resource, Legacy Real Estate Co. dedicates to serve all clients in the very best way possible. We’re ready to serve YOU and the Boise metropolitan area!