executor and personal representativeHelp For Executors And Personal Representatives In Settling Estates

Let me begin by asking you this question.  What can I do to help you make settling this estate easier on you?

You have been honored with the title of Executor to the estate of a loved one.  With this honor comes a myriad of tasks and responsibilities that most are inexperienced with how the process works in settling an estate.

In many estates, the house or real estate is the largest asset to figure out how and what to do with.  This asset is also the cash source for distributing debt repayment and inheritances to the heirs.  If the decedent is a close loved one; dispersing of personal belongings is an emotionally draining job as well.

After you take serious thought to the question pose to you above; consider the examples below of how I can do just that for you.

1. Convert the real estate into cash.

I can buy the house from you for cash.  I am an investor that purchases properties in as-is conditions and reconditions them for my real estate portfolio strategy.  Once the initial inspection of the house is made; I will present you with a fair cash offer for the house.

2. Bring current the liens, taxes, arrear payments on the property.

Many times the decedent has fell behind on payments, had liens filed on the home for violations, or maybe unable to pay property taxes for a year or two.  While on the surface this may seem to add to the hoops you need to jump through in the process it isn’t so.

If any of these situations pertain to the estate property; I can help to have these seamlessly taken care of through my real estate attorney during the sale of the house.

3. Dispose of unwanted personal property

Most family members dread the task of going through the home to save mementos, clothing, and other personal property.  Typically, the most valuable and cherished items are removed but after time the items that are of no value to anyone are left.

That is something I help with as well; I will have the remaining items removed for you. Because after a period of time this task is overwhelming and very time consuming.  Executors should spend the time available on more productive tasks toward settling the estate.

4. Free you from needed repairs and clean up

Some Executors feel that the easiest way to sell the property in the estate is to list it with a Realtor.  This method of retail sale involves getting the property ready to be shown to end buyers and requires needed repairs and clean up.  Realtors will recommend painting, flooring, and perhaps an update to various rooms in the home like the kitchen and bathrooms.

While this may get you a bigger price for the home it begins a new project of renovating it while you are in the midst of your other Executor duties.  Not to mention, the additional upfront costs of hiring the contractors, buying the materials, and ensuring their completion on schedule.

Don’t overwhelm yourself with these added tasks.  You’ll also need to consider if the additions are going to get you the value needed to offset any Realtor commissions, buyer concessions, closing costs, etc.

I take on the house in as is condition.  If the house needs a new roof or bathrooms updated that is my problem not yours.  You want to get this part of the estate settlement done as quickly as possible.

5. Avoid a lengthy listing with a realtor

90 to 120 day listings with a Realtor can cost the estate each month, especially if there is a mortgage on the property.  Depending on how aggressive the Real Estate Agent is with marketing the property this time frame is common in the market today.  Sometimes that time line can linger on if you have factored in repairs as described previously.

You need to close quickly on the house and that is what we are prepared to do.  Once an agreement is made; I can close and get you the check in 7 to 30 days in most cases.

As you already know, an executor’s responsibility can be daunting, unfamiliar, and intimidating to most.  The real estate portion of the estate settlement is made easier for you as exampled in the described benefits above.  I sincerely enjoy helping people understand their best avenues toward completing this process.  I offer my assistance whether it is helping you sell the house in the estate or any other area in the probate process you have questions.  Please feel free to contact me by email or phone.

Dave

 

Photo Credit:

https://www.flickr.com/photos/kmonojo/358242849/

Ryan Johnson

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