What Happens After Probate?

Probate is a crucial step in selling someone’s house after they’ve passed away. Once completed, the executor can formally start or settle important aspects of estate management, like selling the deceased’s home.

That said, the probate process can be a journey. And depending on your circumstances, knowing how to proceed after executorship is granted can be difficult.

As an Ottawa real estate team that specializes in the nuanced process of estate sales, we’re here to help.

Continue reading for insight into estate sales, what’s required, and what happens after probate is granted.

When is Probate Required in Ontario?

When someone dies, they leave certain things behind: a house, money, personal belongings, etc. Altogether, these assets become part of the estate, which can only be managed by a formally appointed executor. This requires probate.

Even if the homeowner’s Will directly names an executor, that person will still need to follow probate procedures to have that designation confirmed. They’ll also need to pay the valuated Estate Administration Tax.

In the case of selling a deceased person’s house, probate is required more often than not. However, there are certain exceptions. For example, if the property was jointly owned with a spouse who is still alive.

How Long Will the Probate Take?

Timeline is an important factor to consider when working through probate. When things go to plan, the process can take as little as a few months. In more complex cases, it could be close to a year (or longer) before executorship is finally granted.

You’ll want to be mindful of this before you start the probate process and plan for the upcoming sale.

Selling a house soon? We’ve got even more resources to support your goals.

Probate is Completed, Now What?

Once you’ve formally been designated as the executor, you’re able to look after a wide range of estate management tasks, including debt resolution, fund and asset distribution, personal or business affairs and more.

Importantly, you’re also able to legally sell the deceased’s house now that probate is completed. However, it’s a good idea to initiate the selling process long before this. More on that next.

When to Start the Selling Process

Although probate is required to close a home sale, there are many steps in the selling process that can be started and managed well in advance. Given how long probate can and may take, it’s a good idea to get started on the sale process before or shortly after you apply. This can help to speed things up.

Step One of an Estate Sale

If you’ve been tasked with selling someone’s house, your first step is to find a local real estate agent.

Rather than hiring the first Realtor you find online, do some research and consider multiple options. Your ideal candidate should have a strong track record of success in the area and have professional experience with estate sales.

Beyond simply putting the house on the market, the right agent can provide you with personalized advice on the related elements of an estate sale (like probate).

Preparing the Property

Now that you’ve got an agent, it’s time to prepare the property for sale. No matter what condition the home is in, a few improvements and optimizations can drastically improve what you’re able to accomplish on the market.

Your agent may recommend more subtle tactics like decluttering and repainting, or they may suggest major repairs and renovations based on the ROI potential.

Offers & Negotiations

Your agent will keep you up to date on buyer interest and activity once the house is on the market. As buyers reach out, they’ll advise on which offers are worth accepting, rejecting, or negotiating further on.

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Finalizing the Sale

If probate is completed, closing can formally take place. During this step, any included conditions in the offer are met, key paperwork is prepared and signed, and all the legal boxes are checked. Once possession day arrives, the buyer receives the keys to the home.

Need Estate Sale Support?

Estate sales are a unique segment of real estate. Beyond the basic aspects of selling property, there are a variety of emotional, legal, and logistical variables at play. If you’re preparing to sell a loved one’s house after they’ve passed away, you’ll want to work with a real estate professional who specializes in estate sales. That’s where we, the Pelletier Team, can help.

Leveraging our proven, process-based approach, we’re here to help you make informed decisions, avoid mistakes, and capture a great return in as little time as possible. Get in touch today to take the first step of your home-selling journey.