Losing a loved one is an emotional, life-changing experience, so navigating the process of selling their estate can be pretty stressful and challenging. Without the proper knowledge, trying to figure out what you need to know to sell the estate can be long and exhausting.

At Kentucky Real Estate Buyers in Lexington, we work with people in this situation on a regular basis, and we’ve gathered some tips for you to make it easier. Read on for several things you should know and do before selling the estate and how we can help.

What is an Estate and Who is in Charge After Someone Dies?

In the matter of selling someone’s property, an estate simply means all of the property the deceased owns. When that person dies, someone else will be in charge of the decisions concerning the said estate - this role is called the executor of the will of the estate.

If there is a will, figuring out the owner of this role will be much easier than if there is not. If there was no clear legal directive on passing along ownership, you will likely have to involve the court system. This doesn’t necessarily mean there is an argument, but legal paperwork must be drawn up and signed depending on your particular situation. If you don’t have a family attorney, ours can help walk you through the steps.

Of course, sometimes there are arguments and disagreements after the death and the exchange of ownership, so we highly recommend sitting down with everyone involved. If this can happen before a death, for instance, with an elderly parent and siblings, everything will be much less confusing than if it all happens in the aftermath when emotions are high.

What are Your Options for Selling an Estate?

Once you’ve waded through the legal process of becoming the executor or person in charge of the estate, it’s time to figure out how to sell the house. You have a few options.

You can use a real estate agent and list the house on the market through them. You’ll need to get the house show-ready by emptying it of belongings, cleaning it thoroughly, and probably paying for repairs to make it marketable and up to standards.

This can be very time-consuming and costly. Once you do start showing the house, you’ll wait for offers and mortgages to go through. Often, an older person’s home is an older build and in disrepair and won’t be as marketable as other houses listed in the MLS by real estate professionals.

If you do go this route, you’ll need to make sure your real estate agent has experience working with estates and the legal issues that come with the situation. It is important to know if there are any liens on the property and keep up with mortgage and tax payments while decisions are being made.

You might think this sounds too complicated and consider choosing to go the way of FSBO (for sale by owner). This removes some of the cost because you aren’t using an agency or professional to help you, but you’ll still need to get the house to a state where people want to buy it. It will also be beneficial if you understand the real estate market.

If both of these options sound like a headache you’re not ready for, consider our advice and find an estate buyer in the area.

How Can a Cash Estate Buyer Help me?

At Kentucky Real Estate Buyers, we make the house-selling process streamlined, quick, and easy. We pay cash for houses and you can pick the closing day. Some families call early in the process so there is peace of mind knowing you have a buyer ready to go once the estate has been processed. Others need more time to allow belongings to be removed or to allow additional family members to move out. Some may need to close quickly. We work with every situation.

Another way we can help you is our “Take what you want, leave what you want” policy. You do not need to clean out the property if you sell to Kentucky Real Estate Buyers. Take the memories and items of value for your family and leave the clean out for us. We always buy as-is so there is no added work, expense, or worry for you.

If you’re in the counties surrounding Lexington, Kentucky and need to sell a house, contact us, and we’ll help you through our simple process and take some stress off your shoulders.