Ask Phyllis: a blog series of frequently asked real estate questions. Email us here
Handling an out-of-state real estate sale
Dear Phyllis,
I am the executor of my Uncle’s estate (he resided in Texas). He didn’t have his affairs in order. And I learned that although he has a will, the home sale must go through probate. I am the heir, but until the paperwork is finalized, I can’t access any savings or checking accounts. Each time I travel to Texas, I have to use my own funds, and I prefer not to keep going back and forth. At the present time, I also have to use my own money for upkeep such as gardener and utilities. Handling an out-of-state real estate sale is a drain emotionally and financially. Do you have any suggestions as to the best way of handling an out-of-state sale?
AG
Dear AG,
I am not certain how probate works in Texas thus I am unsure how much guidance I can offer in regards to handling an out of state real estate sale. Once you obtain the legal authority to act on behalf of the estate, you can eliminate much of the back-and-forth travel. At that point, hire a qualified real estate agent who can manage many of the details for you. First, interview several agents and select one who is willing to coordinate services such as an estate sale, donation pickup, junk removal, or disposal of unwanted belongings. In addition, your Realtor should be prepared to oversee any repairs or improvements you choose to make before selling the home. Then, after the court grants the necessary authority, put that Realtor to work on your behalf and allow them to handle the day-to-day responsibilities of preparing and marketing the property.
How much should you invest before selling your home? The answer depends on your goals, budget, and timeline. Every seller faces a unique situation, and not everyone has the time, resources, or desire to tackle extensive improvements. However, if your goal is to achieve the highest possible sale price, you will likely need to invest some effort in preparing the property.
Start by asking your Realtor which repairs and improvements will deliver the greatest return. In most cases, fresh paint and landscape cleanup provide the biggest impact for the least cost. Additionally, many Realtors maintain relationships with trusted vendors. They may agree to complete the work and receive payment through escrow at closing. This arrangement can help you prepare your home for the market without paying all of the expenses upfront.
Best of luck to you!
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