Real Estate After a Senior Passes

Real Estate 55 Plus provides a spectrum of services for seniors. Real Estate 55 Plus CEO Juli Anne Gibson joins Suzanne to talk about what typically happens when a senior loved one passes and a home goes into probate.

"When we're gonna go into the home, I would say 25% of the time the personal representative or the executor doesn't live in the state or the city where the property is at. They may have never even have seen it depending on the circumstances. So we're going to come in and do an evaluation on the home, and we're going to give a comparative market analysis that says what the home value is worth. 

"And we're gonna provide up to four options for the executor for the estate, with the first one being selling the home off market. People say, well, why would you do that? Well, typically in a seller's market, sellers aren't gonna take that option and we would typically recommend not for an executor to do executor to do that. But if we're in a buyer's market or the property has a lot of deferred maintenance, it may be the best option for the estate. 

"Option number two would be do a pre-inspection on a home and disclose the issues, but don't do any work. And option three could be, do a pre-inspection and do some work so you're gonna increase the net proceeds. And number four would be to do a full remodel. So we give those options to the executor. 

"Typically, the decisions are made based on how much we return on investment and time. Those are the two big, you know, indicators I think for the person that's going through that process and making decisions. If there are multiple beneficiaries, there's a lot of family dynamics. So we not only work on the real estate, we not only work on the real estate side, but we're the, we're the, we're the problem solvers. We're coming in and we're, we're working with the executor honoring the deceased person's wishes. And, you know, we don't know the family dynamics and they share those with us. So we want to be really sensitive to everybody else that's part of the process."

You can reach Juli Anne Gibson at (800) 964-1553 or https://realestate55plus.com/.

Learn more:
* Real Estate 55 Plus: https://realestate55plus.com/
* Juli Anne Gibson: https://realestate55plus.com/team/
* Call 800-964-1553 to speak to a live person

Hear more shows with Juli Anne Gibson: https://answersforelders.com/tag/juli-anne-gibson/

Answers for Elders is part of the SeniorResource Network: https://www.seniorresource.com/
Check out our affiliate podcast Alzheimer’s Speaks: https://alzheimersspeaks.com/

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