As a real estate team that has had the opportunity to assist many clients through this process we would like to help
make this as straight forward as possible and reduce as much stress for you as we can.
make this as straight forward as possible and reduce as much stress for you as we can.
Opinion of Value
An Opinion of Value for real property in an estate assesses the fair market value of the decedent's real estate holdings on the date of his or her death. This is just one step in helping the court determine an estimate of the value of the estate.
When we provide a Complimentary Opinion of Value (OV), it includes:
- A home visit to take photos and notes on the home's features and current condition.
- We provide an accurate OV based on the specific time period needed using actual comparables rather than online automated evaluations.
- We provide a customized written letter and Comparative Market Analysis
Preparing the Home for Sale
Most often, homes in an estate are still full of the late owner's personal possessions, even after family members have had an opportunity to remove items that have either been willed to them or are simply of sentimental value. The remaining items will need to be removed somehow prior to selling the home. This may be accomplished in one or several ways:
There may be additional work that is recommended to be done to the home prior to putting it on the market for sale, if estate funds allow. We recommend discussing the ability of the estate to make either repairs or improvements with one of our agents who can help you determine the best return on investment for your situation. Because scheduling bids and work with contractors can take a fair amount of time, we do recommend that you have these discussions with our agents as soon as possible in this process.
Since we have worked with many contractors in the past, we are happy to reach out to our recommended professionals on your behalf to help with obtaining bids or schedule work to be completed, with your approval.
- Contract with an Estate Sale Company to organize and sell the items in the home. Typically, once the sale is complete these companies remove all of the unsold items and trash and either donate allowed items and/or take the rest to be disposed of.
- Tip #1: Before meeting with an estate sale company, don't remove anything that isn't specifically trash, except the items that you plan to keep. Even items like partially used cleaning supplies can sell. Wait until you've met with the sale representative and let them tell you what has value or doesn't.
- Tip #2: Once you have met with the estate sale company that you plan to use, don't remove anything that you haven't previously discussed removing. Most estate sale companies charge their fees based on a percentage of the final sale. They determine whether it is worth the time and effort for a sale based on the estimated worth at the time of the initial visit. Anything that is removed after that point reduces their possible profits and can result in them canceling the sale.
- Donate any usable items. Some companies will pick-up select items, others will only accept approved items that you deliver to them. Check out these charities to see if your donations quality: Community Warehouse, TC Resale & Donation Center, Habitat for Humanity, and Goodwill Industries. (Unfortunately, the Salvation Army is no longer accepting 'goods' donations in the Portland Metro Area)
- Hire someone to have items Hauled Away to be disposed of.
There may be additional work that is recommended to be done to the home prior to putting it on the market for sale, if estate funds allow. We recommend discussing the ability of the estate to make either repairs or improvements with one of our agents who can help you determine the best return on investment for your situation. Because scheduling bids and work with contractors can take a fair amount of time, we do recommend that you have these discussions with our agents as soon as possible in this process.
Since we have worked with many contractors in the past, we are happy to reach out to our recommended professionals on your behalf to help with obtaining bids or schedule work to be completed, with your approval.
Commonly Used Professionals when Preparing a Home for Sale
If the estate you are managing needs additional services,
please check out our full Business Directory or Contact Us directly for a referral.
please check out our full Business Directory or Contact Us directly for a referral.