FISCHER: Home decisions after loss bring challenges for families
Photo supplied, Jen Fischer
Jen FischerLosing a loved one is never easy. Not only are the emotions raw and close to the surface, but the practical responsibilities can feel especially heavy and overwhelming.
For those who must manage the real estate associated with the loss, this can feel like an added burden. Whether it’s an endeared family home, an investment property or simply the place they called home, navigating the legal, financial and personal decisions tied to their property requires clear-headed thinking, at a very time when the mind may be most clouded.
I’ve walked through this process with clients on many occasions — handling the real estate side of things after someone passes. It’s not fun. It requires a great deal of understanding and patience, but it’s necessary. So here are some straightforward (and hopefully helpful) guidelines to make this part a little less painful.
There are several things that need to occur before the actual sale of a home. Unfortunately, there are also just as many “ambulance chasers” who seem to come out of the woodwork anxious to make a quick “cash” offer. Unless there is immediate financial distress, this is likely not the most lucrative option.
Take the time to either hold an estate sale or let family members claim what they want from the house — and actually remove it, not just “call dibs” and leave it sitting there for someone else to deal with.
During this time, you may want to contact a professional Realtor to advise on staging and market value. Keep in mind, a market analysis provided by a Realtor is not the same thing as a formal appraisal. An appraisal costs several hundred dollars, while a market analysis done by an experienced, licensed Realtor can be offered (most of the time) for free. The free analysis should provide the necessary information to have your home valued correctly.
If there is more than one sibling or interested party involved, it is important to identify a “point guard.” This would be the person who will communicate the general consensus to the professionals involved in the settlement of the estate.
Often, the deceased loved one chooses an executor before passing. Whether it is this person or someone else who perhaps is more local to the home being sold, only one person should be doing the talking. Too many voices slow everything down and create confusion. One spokesperson can push things forward more efficiently.
There is no question that this may be difficult. Everyone has probably heard horror stories about even the closest of families being torn apart over the division of assets. When assets are not put into a trust or assigned an executor, it often ends up in court. In that case, the winner is almost always the attorneys. Many times, it is just grief and stress that causes some family members to react in ways they otherwise would not. Sometimes, however, it comes as no surprise.
In this case, it is wise to have a game plan in place. Perhaps a majority rule can be agreed upon, or anonymous voting. Either way, it is very helpful to have one primary person with whom to communicate.
I speak from experience with this advice. Years ago, I had a client reach out and ask me to sell her deceased mom’s home. There were a lot of emotions involved, and a lot of sisters involved … five to be exact. All five were assigned to execute the estate. I was happy to help, and I had met their mom on a couple of different occasions, and I could understand the tight connection they all had with her, as well as each other.
The process was difficult, as could be expected, and once we received a good offer on the home, the process became exponentially more difficult. They all came into the office together to make a decision about their response to the offer.
I gave them the options, including the pros and cons of each, and showed them into the conference room so they could have some privacy and discuss their decision. In hindsight, this ended up being a very fortuitous move.
They proceeded to spend the next several hours “discussing,” sometimes very vocally, what they wanted to do. Finally, 15 minutes before the response deadline, one of the sisters came out in tears and told me they would accept it. From a professional’s perspective, it was likely the very best offer they would get.
Of course, letting go of a beloved parent’s home is never easy. It’s wrapped in memories, moments and meaning that don’t show up on an appraisal report.
But as difficult as it is to accept, those memories — while priceless to you — don’t add a single dollar to the market value. Sentiment doesn’t sway buyers and, unfortunately, nostalgia doesn’t appraise. However, to your parents, the money doesn’t matter now, but it is possible that the relationships between your siblings and family members still do.
Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.


