Probate on deceased Estate - How does this affect the sales process?

[RIC84]

I am a executive of my a family will, the family home will need to be sold off to provide equal shares of inheritance to the remaining children.

While I have brought a few houses myself, I have little experience in the sale of real-estate and have no experience selling or arranging the sale on the behalf my family in a probate arrangement.


My question is this - is there any big costs outside of normal selling costs to expect(not including the other probate fees etc for setting up the trust accounts etc) like multiple stamp duties or extra taxes or multiple transfer costs one should be made aware of to insure everything is able to run smoothly for a easy and transparent transaction?

and- Is there anything that one should look for from their RE to make for a Smooth sale and with hopefully a good yield etc

 

[Terry_w]

I am a executive of my a family will, the family home will need to be sold off to provide equal shares of inheritance to the remaining children.

While I have brought a few houses myself, I have little experience in the sale of real-estate and have no experience selling or arranging the sale on the behalf my family in a probate arrangement.


My question is this - is there any big costs outside of normal selling costs to expect(not including the other probate fees etc for setting up the trust accounts etc) like multiple stamp duties or extra taxes or multiple transfer costs one should be made aware of to insure everything is able to run smoothly for a easy and transparent transaction?

and- Is there anything that one should look for from their RE to make for a Smooth sale and with hopefully a good yield etc

Nope, it is almost the same. You as executor get the grant of probate and then draw up the contract of sale with your name on it to sell the property. Loans paid out and money placed in the bank account of the estate.

Just make sure all the expenses are paid, such as land tax (if any)