We equip you, as the Estate Executor, with due diligence for a job well done.
When you're managing an estate the goal of achieving a firm efficient sale on the home is even more important. You may have been told that during the sale process it's the home buyer who is responsible for the home inspection. Maybe you paid for a home inspection when you first bought your current property. It is generally accepted that a home inspection is something only the buyer should do. This is simply not true. When selling your home or managing an estate, getting a home inspection done by an impartial and reputable 3rd party before you put the house on the market can be hugely beneficial to both the buyer and the estate.
What You Need to Know as an Executor/Estate Trustee - eBook download
As an Estate Executor, having a home inspection alerts you to any of the deficiencies which the home may have. There are usually some small deficiencies, but you want to be sure you know about the potential larger issues that could affect the sale of the home. Most homes won’t have many or any of these larger issues, but you need to know if there are problems with the foundation, the plumbing, the electrical wiring, mold, or water penetration to name a few. Knowing before you list the home on the market gives you a chance to address those issues, or modify your asking price appropriately. By disclosing all a home's defects up front, you are letting potential buyers make an offer based on the real value of the home. No surprises later means once you get an offer, it is more likely to end in a sale, and your buyer won’t have as much leverage to lower your asking price.
Typically, buyers make an offer based on a set of assumptions. They expect that if a home looks fine, it is fine. So they make an offer that is conditional on a home inspection, and the buyer can walk away after the inspection without even revealing the results. That's a lot of leverage for a buyer. As an Estate Executor, getting your own inspection done ahead of time gives you power because you already know the issues. You can even ask to compare the results of your inspection with your buyer's if they insist on obtaining one too.
You can't hide a major defect. Not disclosing it just gives the buyer leverage to lower their offer. So get a home inspection done, put the information out there, and adjust your asking price. You'll end up selling the home more quickly, and for a better price. And you will fulfill your obligation as Estate Executor with a job well done.
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