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Firstly, what is an executor sale? An executor sale refers to the process of selling a property on behalf of the estate of a deceased person. This can be a complicated and time-consuming process that involves several steps and legal procedures, particularly in Ireland.
The first step in executor sales is to obtain a grant of probate, which is a court order that confirms the validity of the deceased's will and appoints an executor to administer the estate. While waiting to obtain the grant of probate the executor can proceed with instructing an estate agent and start the process of selling the property.
A property valuation must also be obtained, either from a qualified valuer or an estate agent, to determine the market value of the property. This valuation will be used to set the asking price for the property.
The next step is to market the property, this is usually by placing property details on websites such as daft.ie and myhome.ie, promoting the property on social media, and hosting viewings. The executor must also obtain the necessary legal documents, such as the title deeds and planning permission certificates, to facilitate the sale.
Once a buyer is found, and price is agreed, a contract for sale is then drawn up by the solicitor. It is then signed by both parties with a closure date set, usually 10 days after grant of probate.
Finally, the sale is completed when the balance of the purchase price is paid to the executor, and the property is transferred to the buyer. The executor’s solicitor will distribute the proceeds of the sale to the beneficiaries of the estate, according to the terms of the will.
Overall, executor sales can be a complex and lengthy process, but with the help of a qualified legal professional and estate agent, the process can be streamlined and successful. At Robertson Estate Agents, we have years of experience working on executor sales and offer advice and guidance throughout the process. For more information on our services, please click here.