Real Estate Finalisation Service

There are many positive reasons a seller may put their home on the market, but sometimes a property needs to be sold due to unpleasant circumstances, such as a death in the family.

Oxbridge specialises in estate finalisation. Oxbridge will do everything we can to make finalising the estate of a family member or friend who's passed as stress free as possible.

When dealing with deceased estate, probate is something that all all parties involved in the administration of the estate need to be aware of as it can take a couple of months, providing there are no objections, to be granted.

Oxbrdge provides:

  • Free appraisal and valuation
  • Prompt efficient service
  • No upfront charges
  • Free Pre-Sale advice 
  • Large range of marketing options and channels

What is probate, what is an executor, and why is this relevant?

If someone dies and leaves a will, the nominated person (the executor) must apply to the court to get probate to manage the deceased person’s estate.

If the deceased person owned property assets, a chief role of the executor is distribution of the assets to those nominated in the will (the beneficiaries), which means sale of real estate asset/s is required before proceeds can be divided between beneficiaries.

While waiting for probate, the executor should organise relevant property disclosure statements, get appraisals from Oxbridge. We will do our utmost to market and sell the property. Pre-sale time is best spent by the executor – with guidance from us – actively preparing the deceased estate for sale

 

What is the best selling method for such a listing?

When there are multiple beneficiaries such as siblings, a quick sale may be needed. We may need to advise executors to sell by auction. We will then encourage the executor to set their price expectations in line with the current market,”

Auction is preferred as it provides the executor and beneficiaries with greater certainty, allows them to dictate the terms under which the property is offered and provides an unconditional sale. An auction campaign is also typically limited to four or five weeks and will allow the market to determine a fair price for the property.

With deceased estates it’s unlikely that any offers will be accepted prior to auction and, given it’s a deceased estate, the executor will often be willing to set their price expectations in accordance with the direct comparable evidence available in the market as well as the deceased’s wishes.

 

 

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