Thoughts on Selling a Home that is in a Trust or as an Estate

Overview of Trusts in Property Sales

As a growing number of properties are held in trusts, it’s increasingly common for trustees to take on the role of selling entity. While this process may seem daunting for property owners, understanding the basics of real estate sales can help simplify it.

Preparation for Sale

To maximize the property’s value, careful preparation is essential:

Decluttering: One of the most effective strategies is to declutter the home. This means removing excess items, personal belongings, and unnecessary furniture to create a more spacious and inviting atmosphere. The mantra “less is more” applies here, as a clean, open space allows potential buyers to envision themselves in the home.

Cleaning and Maintenance: A thorough cleaning of the property is crucial. This includes deep cleaning carpets, polishing surfaces, and ensuring that all areas are well-maintained. Additionally, addressing minor repairs—such as fixing leaky faucets, patching walls, or replacing outdated fixtures—can significantly enhance the home’s appeal.

Aesthetic Improvements: Consider painting walls in neutral colors to brighten up spaces and make them more attractive. Enhancing lighting through better fixtures or optimizing natural light can also create a positive impression, as bright spaces tend to attract more interest.

Pricing Strategy

Pricing the property effectively is critical. Feedback from showings can provide initial insights, but a slow market can complicate evaluations. Competitive pricing is essential to attract attention once the listing is live.

Navigating Estate Sales

Estate sales add complexity, primarily due to the varied interests and motivations of multiple parties involved. Often, there are numerous beneficiaries with different perspectives on how the property should be presented, marketed, and priced. Additionally, attorneys, probate officials, legal masters, and trustees all have their own interests, inputs, requirements, and timelines that need to be accommodated.

Some Realtors enjoy working with estates, while others find it challenging. Personally, I find estate sales to be incredibly interesting, challenging, and rewarding. They represent a critical and important aspect of my business.

If you need assistance with your estate sale, I would be delighted to discuss how I can help!