Inheriting your parents’ house can be emotionally challenging.

Why? Because most inheritances follow a death in the family. Of course, it’s a time to grief and mourn. However, it is important to decide what to do with their house as soon as possible.

Some families choose to move into an inherited home and sell their own properties that they’ve been living in. There are also some cases where none of the heirs or beneficiaries wish to move in and assume responsibility for the property.

If you won’t be moving into the property and don’t desire to or are unable to rent the property, selling your parents’ home in Long Island NY is an option.

Here are some things to consider before selling your parents’ house.

1. Who are the heirs?

Before selling the house, you need to determine who the heirs are. They are most likely to be your siblings.

Get all the options out on the table. If everyone agrees to sell the house, make sure that you all decide on the selling price, any reductions that you can make, what should be given to the home inspection and the attorney, and all the minor details to avoid misunderstandings while selling the house.

2. Who is in charge?

If your parents left a will, the executor is the person who is responsible to distribute the assets of the estate, including real estate. If you and your siblings have inherited property together from your parents, one person often has the ultimate authority and responsibility to handle the real estate transaction.

If you have been named as executor, your tasks include collecting all the necessary documentation of the deceased’s death, notifying proper governmental departments and administrations, taking inventory of their assets, settling debts, and keeping track of it all.

If the deceased owned the property solely in their name, a grant of probate will be required to enable the executors to sell or transfer the property.

The grant of probate is a form of a certificate issued by the court that confirms the validity of the will and gives the executors authority to deal with the deceased’s estate.

One question frequently asked is, “Can I sell my parents’ house before probate?”

The answer is no. You have to wait for the grant of probate because it shows the legal chain of ownership from the person who owned the house to the person who wishes to sell it. Without the grant of probate, you have no power to sell despite being expressly named as the executor in the will.

However, this should not stop you from marketing the home and instructing valuers and solicitors on behalf of the estate. Simply keep in mind that you cannot effectively enter into a contract to complete the sale until the grant is issued.

Working with a real estate agent who has handled these types of transactions is always of great benefit.

That would be me, Rene Perrin. I know that handling family affairs can be emotionally draining, so having additional shoulders to carry the weight can make the experience lighter and less stressful.

Visit https://SellingYourParentsHomeNow.com/ for more helpful tips regarding selling your parent’s house.

Call me at 516-802-3785. We are here to help make the process as smooth and painless as possible.