When Grandma or Grandpa pass away, it’s easy to assume the executor of the estate makes all the decisions on selling the home.  While this may seem true, it usually is not.

If you are thinking about listing the estate home, make sure first that it goes through probate.  This process merely means that the courts have approved the will (or how to proceed if there is no will).  After this, the home can be listed but make sure that ALL the heirs sign the listing agreement before it goes on the market.  Do not just let the executor place it for sale.

When a buyer is found, again all heirs should review the offer and sign off on it.  If not, at closing one person may say, “Nope! I’m not signing unless I get XXX.”

That one stubborn mule may cause the entire transaction to fall apart.  By having everyone sign the listing agreement and the purchase contract, concerns would then be addressed at the beginning rather than the end of the process.

Have a good weekend, Shak & Jillers!

Photo by Valerie’s Genealogy Photos via flickr creative commons.