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The Process of Inheriting Property From an Estate Sale Realtor in Erin
It’s not always easy to know what to do after someone dies. You may need to get your estate sale items sold off and divvy up any leftover property amongst family members according to their wishes. This process can be complicated for many reasons, so here is some information on how inheriting property works and a few things you might want to consider before accepting an estate in a will.
Step 1: Figure out what estate sale items there are. You will need a list of everything that is being passed on to you so that you can verify it and then sell the estate in an estate sale or auction. If there’s been any damage done, such as fire or water damage, this is something else that should be noted in detail with notes about things like smoke odour from fires. Make sure to take pictures of all the property since family members might want proof later on down the road if they start disagreeing over who gets which piece when it comes time to divvy up stuff after you have sold them off at estate sales.
Step 2: Take inventory. Make a list of every item that was passed on to you in an estate will or estate settlement agreement so that it can be verified by any family members that might have questions about things like value later down the road when people start quarrelling over who should get what at estate sales auctions. Family members may want proof from estate sale professionals as to how much money each piece actually made at auction after being sold on consignment through your estate sales company. It’s best if everything is documented well because otherwise there could end up being arguments between relatives who don’t want to see each other, let alone deal with the estate sale real estate business.
Step # three: Take care of the legal paperwork. This is probably one of the most important steps in inheriting property because you need to make sure that everything is done correctly and according to state law. You don’t want any family members coming back at you later on down the road accusing you of mishandling things or not doing your job properly when it comes to getting estate sale auctions completed in a timely manner. Make sure all the legal documents are filed appropriately so that everyone knows what’s going on and no surprises pop up after someone dies leaving behind an estate sale for professionals like yourself to handle.
Now that you know how estate sales work, you can handle some of the things that come up when someone passes away.