Have the home appraised

When selling a home as an executor, it is an excellent idea to have the home appraised by one or two appraisers. Your job is to get fair market value for the home, and an appraisal (or two) will help create clarity on the value of the home in today’s marketplace. Appraisers will do a market study to determine what similar homes with similar characteristics have recently sold for, giving you more confidence when creating an asking price for the home when selling it.

Getting an appraisal also is an excellent risk management tool for you as an executor. If an heir comes back after the sale of the home and has concerns that the home was sold at too low a sales price, having an expert third party opinion (or two), will help manage this potential issue.