Navigating Probate Real Estate in Minnesota

If you’ve recently been appointed as administrator of an estate that must go through probate in Minnesota, this new responsibility of yours may include the transfer or liquidation of one or more properties.

While estate planning is often carefully done and maintained, many who have been recently appointed as administrator have had little experience with the probate process. 

DOWNSIZING HELP

Whatever your reasons are for downsizing, there are resources to help you from start to finish. Specialists in my network provide most or all of what you might need to make downsizing more manageable.

• Estate sale

• Online auction

• Appraisal of valuables, antiques & collector’s items

• Packing and moving

• Professional cleaning

I can also help match you with

• An attorney who specializes in probate cases and estate planning

• Home inspectors

After years or decades in the same house, personal property often accumulates. Home maintenance on less important items may be overdue. 

Most will find themselves in between two extremes.

• Invest time and money to maximize the market value of the house.
• Sell quickly to an investor or ibuyer. 

It’s likely that you’ll fall somewhere in between a massive home renovation and a quick cash offer. 

Short on time and resources? You may consider:

• A rent back option, which allows you to close on your property in a short amount of time to liquidate equity and avoid the next mortgage payment while still having a month or more to move everything. 

• A probate advance.

If there’s plenty of time to sell, and all involved with the estate agree, it’s likely best to list on the market in the best condition possible. Regardless of a home’s condition, offering it on the market with a REALTOR reaches significantly more buyers. More can be found on the Vexillum Realty Blog about preparing a home for the market to any extent. 

If you lean toward the idea of preparing the home for maximum value, you may not be sure how much to spend.  Together, we can go over what makes sense specifically to you and your needs.   

When listing your home for sale on the market, I’ll provide the proper marketing, copy and advertising that will provide the best exposure and results. 

IF YOU’RE OUT OF STATE AND PLANNING TO SELL A HOUSE IN MINNESOTA, MY MANAGEMENT OF YOUR REAL ESTATE TRANSACTION WILL ENSURE THAT ALL GOES TO PLAN RIGHT UP TO CLOSING WHEN THE ESTATE GETS PAID. 

PAST AND NEW CLIENTS OFTEN FIND VALUE IN AN EQUITY REVIEW OF THEIR PROPERTY. IF INFORMATION ABOUT YOUR PROPERTY AND THE SURROUNDING MARKET WOULD BENEFIT YOU, CONTACT ME DIRECTLY. I’LL LOOK AT THE PROPERTY AND GET STARTED ON A FULL REPORT.

WHILE LISTING ON THE MARKET SHOULD MAKE YOU FEEL CERTAIN THAT YOU’LL FIND THE HIGHEST PRICE FOR YOUR REAL ESTATE, THE CONVENIENCE AND ANONYMITY OF A QUICK CASH OFFER CAN OFTEN BE THE BEST OPTION.   

Guidelines for many real estate investors indicate that you may see an initial cash offer of roughly 70% of the expected market value of the home after completion of repairs and upgrades minus the cost of renovations. You may give a counteroffer that shows the least you’d take without listing on the market. 

Types of investors in my network include home buyers of all sizes.

• Local investor with many years of experience in the Twin Cities. 
• Investor clients who will improve a home and make it available to new homeowners.
• Agents in my network with investor clients.
• Ibuyers. (Zoodealio, Knock, Opendoor).

WHEN YOU BECOME INVOLVED WITH AN ESTATE IN PROBATE, CONTACT A REAL ESTATE PROFESSIONAL WHO SPECIFICALLY FOCUSES ON PROBATE REAL ESTATE.  

CONTACT ME TO REVIEW YOUR CURRENT PERSONAL REAL ESTATE NEEDS IN THE TWIN CITIES.