Monday, November 19, 2018

Real Estate and Passing Of Loved Ones

Losing a loved one/family member is very difficult.  It can be incredibly devastating, and we all need time to internalize the situation, grieve and pick ourselves back up.

It can be especially difficult if we become the executor of the estate once our loved one has passed.   Going through the legalities to deal with the estate is usually the last thing on our minds, but it is incredibly important and worthwhile to know and plan ahead.


What Is Probate?

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Probate is the process of legally proving a will. Real estate must go through probate so that the executor of the will can legally sell the home. Once you've gotten the court's approval, you'll be able to officially be able to start the selling process. Don't worry if you don't have a court order yet, you can start a discussion with a real estate specialist at any time - such as SMK Realty Solutions.


The Probate Process


1. File the Petition
Once there's a death certificate, work with your attorney to set a court date. While waiting for a court date, you cannot legally take action with the decedent's estate but you may take steps to safeguard it.

2.Give Notice and Inventory the Estate
Formally inform every beneficiary of the probate and give notice to creditors so they have time to submit claims. You'll need to take inventory of the estate to assess value.

3. Administer the Estate
Go through all of the assets, starting with real estate, and dispense them among the beneficiaries. Usually, this means the assets must be sold first.

4. Close on the Estate
The home is sold, the debts are paid, and the financial assets are ready to be distributed. Your attorney files a final petition and the process wraps up



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How Can We Help?


SMK Realty Solutions can arm you with the knowledge you need about the property to navigate the tough times.

We can do the following:

1. Assess the property's condition and value.
2. Run comparable analysis in your area, and discuss the results.
3. Help you through the process.
4. Provide a fair market CASH offer and close on your timeline.

All of this with no obligations, completely confidential and absolutely free! 

We have purchased numerous homes as a result of probate in the Maryland, DC and Virginia area. 


Call us today at (301) 329-6500


Real Estate and Passing Of Loved Ones

Losing a loved one/family member is very difficult.  It can be incredibly devastating, and we all need time to internalize the situation, gr...