The Condo Mania Team
News > Selling a Scottsdale Condo After an Owner Death
We receive many inquiries from family members who are trying to sell a condo owned by a person that has recently passed away. It's probably because older folks enjoy the easy care advantage that a townhome or condo has over a large home with a yard and exterior maintenance. It's an unfortunate situation for a loved one to be in - trying to navigate the myriad of administrative, legal and tax issues surrounding someone's death while trying to grieve. We recommend having a lawyer available to field any questions you have while trying to settle an estate. Here are some common questions you may have when you start the process of trying to sell a condo owned by a deceased person.
Am I able to sell a condo or townhome for a deceased person?
Whether you can sell a condo or townhome for a deceased person depends on several factors, but usually, if you fit one of these roles then you are probably legally allowed to sell the condo.
- Your spouse is deceased and you both are the only parties on the title with "rights of survivorship". This is the most common way of title for married couples.
- The condo is owned by a trust and you are the trustee.
- You've been appointed personal representative (another term for Executor) by the court.
What paperwork will I need to be able to sell a condo or townhome owned by a deceased person?
If the condo is owned by a trust, you'll need the trust documents showing that you are the trustee. If you are dealing with probate for an estate, you'll need the court documents showing that you have been appointed Personal Representative for the estate. In all cases, you'll need a certified death certificate issued by the county.
Before we list the property for sale, we like to have the title/escrow company review the documents to make sure there won't be any issues in transferring the property.
What do I do with all the items I don't want?
Dealing with the personal items of the deceased can often be the most time consuming thing you'll have to do, but you won't want to put this off until you have a buyer. Sometimes condos can be sold with the furniture and kitchen items included, because second home buyers often like to have everything move-in ready. But this may only be feasible if the furniture is contemporary and in good shape. We can give you an opinion on whether the furniture and kitchen items should be removed or kept while the condo is on the market. Other options are donations, selling through third party websites, and estate sales. However, you'll want to make sure you are following all the Homeowner Association rules when removing or selling furniture, or having estate sales.
Are there any fees I need to consider when selling the condo or townhome?
First, you'll want to find out if the homeowner's association payments are up to date. The HOA management company can provide a statement. If the HOA payments are delinquent and the estate is short on funds, it may be possible to get current with dues at the time the condo is sold. In either case, it is good to know the amount of back payments due.
There may be transfer fees and statement fees due at Close of Escrow when the selling the condo. The Homeowners Association can help with that information. In addition, there are other fees in selling any property that would be paid at Close of Escrow. We can help you with an estimate of those fees. Some can be negotiated with the buyer during the sale process.
What is the Condo Worth?
You'll want to determine whether you want to sell the condo for top dollar, or sell it quickly. Selling a condo for the optimal amount may mean waiting for a better time of year to sell, and perhaps having the condo stay on the market longer. But in either case, condo valuation is our speciality. We help our clients price their condo or townhome properly to reach their goals in selling the property.
Handling an estate for a loved one can be difficult, but selling property can be less stressful with a good team on your side. We'd be happy to meet you and perform a condo price analysis for an estate Scottsdale condo or townhome.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.
Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2024-03-02 05:14:12