Selling a home through an estate sale can be a complex process, as it involves several legal and financial considerations. When someone passes away, their assets, including their home, become part of their estate.  You do not always need to sell a home when a person passes away.  For example, if a house has been titled as Tenants by the Entirety in Maryland then the surviving spouse will automatically take ownership without the probate process.  However if this is not the case and the house needs to be sold, then there are some steps that should be followed to make the process go as smoothly as possible.  

Estate sales are typically held when a homeowner passes away, and their assets (including their home) are sold to settle debts or distribute the proceeds among heirs. The estate sale process involves determining the value of the home and other assets.  If you would like to consult an attorney prior to moving too far into the process, then this can be a good resource - Best Maryland Trust and Estate Lawyers.

If you are tasked with selling the home as part of the estate, there are several steps you need to take.  Working with an experienced real estate professional can help ensure that the process runs smoothly and that you receive the best price for your property.

  1. Obtain the necessary legal documents: Before you can sell the home, you will need to obtain the necessary legal documents, such as the death certificate and the will (if there is one). If there is no will, the court will appoint an executor to handle the estate. Determine who has legal authority to sell the home: The executor of the estate typically has the legal authority to sell the home. If there is no will, the court will appoint an administrator to handle the estate. 
  2. Consult with a Realtor to help determine the value of the home.  In addition to determining the value, it is essential to know what the current mortgage balance(s) so you are able to have an idea what the anticipated equity position of the property is.  
  3. It is usually best that you hire an estate sale professional who can assist you in preparing and conducting the sale. They can help with tasks such as selling items within the home and removing other items that do not sell, or are no longer needed.  Contacting a company such as Caring Transitions can make this process much smoother.
  4. Prepare the home for sale: Once the personal items have been removed, there maybe some work required in order to prepare the house for the market.  This may involve hiring contractors, cleaners, or other professionals to help prepare the property for sale.  We have an extensive list of contractors that can help in this process of preparing the house for the market when you are working with The Scott Smolen Team at RE/MAX Leading Edge.  We understand that your time is limited and this entire situation can be very emotional, so we do our best to coordinate as much as you would like done for you if you would like us to help.
  5. Once the house is prepared for sale, then we go to work marketing the home for you.  This includes professional photography, aerial photos, a virtual tour, current home floorplan and much more.  
  6. After a contract has been accepted and processed to a successful settlement, the proceeds from the sale will need to be distributed to the estate.  The proceeds maybe used to settle outstanding debts associated with the estate and then the remaining funds are usually distributed to the heirs according to the will or trust that is in place.  

Since selling a home as part of an estate can be a complex process, especially if you are not familiar with the legal and financial aspects of the sale. Working with an experienced estate attorney and Realtor can help ensure that the sale runs smoothly and that you receive a fair price for the property.  Please feel free to let us know if you have any questions at all.