If you are the executor of Texas estate, and your loved one has passed, things may seem very difficult. Being in charge of selling a home after a family member has died is a very big task.
Even though you are still in the stage of grieving, it is your responsibility to make sure the home gets sold.
The process of selling a home as an executor is a bit different than a traditional real estate deal. Luckily we are going to help walk you through the process.
Step One- File The Will
The first step in the process of selling a house in Texas as an executor is filing the will.
In most states, you will have to file the will with your local probate court. You will need to file the will within 30 days of your loved one’s death.
If you don’t file within this time frame, you may be denied. This is why it is vital that you file with the court as soon as possible. The sooner you file the sooner the probate process can begin.
Keep in mind that the probate process can be very long, depending on certain factors. So putting off filing will only make the process of selling the home longer.
Step Two- The Probate Process
As we just mentioned, the probate process can take a long time. In fact, it can take months and even years depending on many different factors. For example, during the probate process, any liens on the home will need to be addressed.
This can take a lot of time. Also, all creditors of the estate will have to be notified. Any debt will need to be taken care of. So just remember that the probate process is not something that is going to happen overnight.
There are many legal terms that you may not be familiar with, and if you have any questions an attorney can quickly find answers for you.
Step Three- Wait Until You Have Been Named Executor
In many cases, it is a wise move to think ahead. It might even be tempting to hire a real estate agent to put the property on the market. But you have to keep in mind that you have no legal right to the property until you have been named by the court as the executor.
In addition, you should know that you have no right to remove any items from the property. Legally you can’t even go inside to clean it. Knowing this will save you a lot of headaches and time.
Doing so will make selling a house in Texas easier. While you may want to help get the home ready to sell as quickly as possible, now is not the time.
Step Four- Hire An Agent With Experience
After you have become the executor of the estate, it is time to hire a real estate agent. But you may not want to just hire any agent. It may be best if the agent you hire has experience handling probate properties.
In addition to these guidelines, there will be a ton of paperwork that will need to be handled. So when interviewing a real estate agent, make sure they have the right experience under their belt. This can make the process of selling a home in probate much easier for you!
Step Five- Sell The House as Fast as Possible
As the executor, it is your job to sell off any property that is costing the estate money. The cost of keeping the home up can be very expensive. This can put a huge burden on the estate and could reduce the estate’s overall value.
So when possible put the home on the market. While the property is an asset, it can also be a burden if it is costing the estate money. In order to sell the home quickly, there are some things that you can do. Below we will learn how to not only sell the home quickly but also to improve its asking price.
Step- 6 Improve The Property
Before placing the home on the market, you should try to improve its value. By doing so the estate could receive more money for the home. If the estate has some liquid capital, you may be able to use that money to make improvements.
For example, you may wish to put a new roof on the home. This will bring more value and help the home sell much quicker if the original roof is not in top shape. Other improvements could include a kitchen remodel, painting the exterior of the home, or updating the bathrooms. The sky really is the limit on the number of things that you can to do improve home value.
Now that you know the steps you should take when selling a house in Texas as an executor, why not get the process started?
While being executor is a major job, you will have peace of mind knowing that you are doing the right thing