7 Apr 2015

Mark Zawaideh

What Should You Know About Selling a Home after a Loved One Passes Away?

Keys handover - Image Credit: http://pixabay.com/en/users/Nemo-3736/

The passing of a loved one is a very stressful time. Not only do you have to prepare for their final resting arrangements, you also have to consider what to do with all their possessions. This can even be more challenging if more than one family member is involved.

If the decision has been made to sell their home, then there are many factors to consider. Here are some tips to help you through this stressful time.

Did they pass away in the home?

Many times, you are obligated to let potential buyers know that the previous owner passed away in the home. Your real estate agent will know if this is a current obligation for the state that you are selling the home in, and if it is looked at as a material fact.

Locks and Mail

You will be unaware of who has been given keys to the home, so you should change the locks to deter people from entering without your knowledge. To keep everything safe, you will want to go ahead and have all mail forward to your home. Update this each year for the next few years to ensure all mail comes to you. This will help you see what debts are outstanding.

Gather Financial Documents

You will want to rummage through all paperwork that is remaining in the home. You will be surprised where you will find money as well as important documents. Look in all spots imaginable and unimaginable, such as underneath drawers, crawl spaces and under mattresses.

Here are the documents that you will want to obtain:

  • Homeowners policy
  • Will
  • Insurance
  • Bank accounts
  • Letters from friends or family
  • Poems, articles and letters
  • Bill receipts
  • Stocks and bonds
  • Social Security number

Topics: Seller Tips