When you’re the executor of a deceased estate there are a couple of extra steps that you need to consider compared to when you are selling your own home.
First of all, if there is no will in place, you need to apply for a Letter of Administration, from the Supreme Court of WA. If this is the case, it is highly recommended that you seek advice from a local estate lawyer.
On the other hand, if there is a valid Will and you are listed as the executor in the Will, you can apply for a Grant of Probate, also referred to as Probate, via the Supreme Court of WA.
This process under deceased estate property can take months and it may be worthwhile to seek assistance from a wills and estate lawyer.
The next step is to apply to Landgate for the name of the title to be changed to your name as the executor. Once the title is updated, the property can then be sold.
When can you actually start listing the property for sale and start selling it?
If you are appointed as the executor, you can start the process straight away. However, the property cannot settle until you are listed as the executor on the title. If, for whatever reason, you cannot wait until the new titles are issued, it is possible to start the sales process earlier (for instance when Probate is granted but titles haven’t been updated). In that instance, a special condition should be included in the sales contract to make it clear that the sale is subject to the issue of the new titles from Landgate. The recommended approach is to wait until Landgate has finished with the changeover of the name.
At The Haus Exchange we are have acted as selling agent on a number of deceased estate in Perth as well as in wider Western Australia. We are experts when it comes to deceased estate properties.
We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy.
Frequently Asked Questions
Is it worth renovating a deceased estate in WA before selling?
It depends on the condition of the property and how much the renovation is going to cost. If the house hasn’t had any improvements for 30+ years it is generally best to leave it in an as is condition and let the buyer deal with it. A real estate agent would be able to give you specific advice.
How do I sell my parents house in a deceased estate in WA?
You need to be appointed the executor of the estate and you would have to apply for a grant of probate if there is a valid will before you submit your application to Landgate. The property can only settle when the name on the title is changed into the executors name. If in doubt, you should seek legal advice from an estate lawyer.
Can I sell a house without probate in WA?
In theory you can sign a contract without probate but the property cannot settle until the title records at Landgate are updated. It is recommended to wait until Landgate has issued a new title before accepting an offer and selling the property.
Who controls a deceased estate in WA?
The executor is solely responsible for the administration of the estate. The nominated executor may appoint a real estate agent to act on his or her behalf but the executor remains legally responsible and liable for the estate.
Can an executor sell property of the estate?
The appointed executor of the estate will need to have the property transferred into their name as the executor. If there is a Will in place the executor have to apply for a grant of probate before lodging the application to Landgate. The property can only sell when the name on the title is changed into the executors name as the executor of the estate. If in doubt you should seek legal advice from an estate lawyer.
Can I sell property without probate?
Technically you can sell without probate but you cannot settle the transaction before the property is transferred via Landgate. Before you can submit an application to Landgate you need a Grant of Probate. The Grant of Probate allows the executor authority to proceed with distributing and handling the assets within an estate, including property .
How soon can a property be sold after a death?
You won’t be able to sell the home until probate has been granted and the title is changed via Landgate. Although you may put the property on the market, contracts can’t be exchanged or settled – so your buyer will need to be prepared to wait. The timeframe can differ and it will therefore make the sale more complicated.
Can you sell a deceased estate in ‘as is’ condition?
Yes, you can sell a deceased estate in “as is” condition but if buyers cannot do their own due diligence as part of the contract, it may turn off a portion of the buyers and you are likely to sell for a reduced price.
How do I obtain a Grant of Probate in WA?
A Grant of Probate can be applied from the Supreme Court of WA and can take a while (months rather than days or weeks). It is not compulsory to use a specialist Estate Lawyer but it is recommended, as it is likely to speed up the process as an Estate Lawyer is an expert in this field.
Why do I need a Grant of Probate for a Perth property?
The Grant of Probate validates that the last Will and is the process of registering the last Will. Probate is required for changing the name of the title for any property in the estate.
Which method of sale is best for a deceased estate?
The executor can choose any method of sale, however, an auction or an online auction is a popular method to ensure a transparent sale.
Capital Gains Implications when selling a Perth Deceased Estate
Depending on when the property was originally purchased and if it was the primary residence or an investment property, there may be capital gains implications. It is best to seek advice from your accountant as well as an estate lawyer if you are unsure of your situation or check out the ATO website.
Note that generally speaking, the 2 year rule is calculated from the deceased’s death to settlement date (not contract date). For more details, please visit the ATO website
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At The Haus Exchange we are have acted as selling agent on a number of deceased estates and we are experts when it comes to deceased estates. We can help you removing the stress of being being an executor of a deceased estate and we have access to the right experts that can assist in making the difficult process easy. Just Get in touch here….