From Grief to Relief: How it works to sell your parents’ house

Letting go is never easy, especially when saying goodbye to a home full of memories following the loss of a loved one.

And often, it’s not just the house, but also everything that comes with it. What do you do with all of the “stuff” in the home and on the property? The collectibles, yard equipment and vehicles. It can feel daunting, but it doesn’t have to.

We’ve talked through the grief, where does the relief come in?

Answer: Auction.

It can be as simple as handing us the keys and we’ll take care of the details.

Estate auctions offer unique options and benefits to ease the burden of selling your parents’ home and personal property.

I’ve inherited my parents’ estate, now what?

When tasked with how to sell your parents’ house, it’s important to remember each situation is unique. Many questions may arise, such as:

• The estate has multiple beneficiaries. How do I make my siblings happy?
• What do I do with all the “stuff?”
• How long will it take?
• Do I have to go through probate?
• What if my parents had a firearms collection?

Let’s dive into these questions and learn how auctions can benefit you.

My siblings can’t agree on how to proceed, how do I make everyone happy?

With most estates, there are multiple owners who need to divide their interest. Auctions can remove the stress and undo pressure of negotiating among siblings, who are often all beneficiaries of the estate.

An auction provides a non-emotional (or non-stressful) way to divide interest. How? Because auctions are a public, transparent event that allow all beneficiaries the ability to sell outright or purchase the asset as a new owner.

What do I do with all the stuff? 

Personal property, known as chattel in the auction industry, is any non-real estate item such as vehicles, tools and equipment, antiques, or firearms.

It’s common for an inherited home to have some, or all, of the items listed above. A reputable auction house can assist with appraising the chattel and cleaning out the home if requested.

The beauty of an estate auction is ease and speed. Personal property and real estate can be sold on the same day.

How long will it take to sell everything?

A lot of grey area comes with traditional listings … how long will the house sit? How do we handle the offers (if any)?

With an auction, you set the terms. Everything is sold “as is” at an advertised date and time that you choose. The auctioneer will handle the rest, including organization, marketing, and sale details.

Typically, the auction can occur within four to six weeks of the initial meeting – with everything being sold in one day.

What does it cost?

There is no upfront cost to you. The costs come from the proceeds of the sale. Each auction is unique, so we encourage you to call our office to discuss the details.

Do I have to go through probate to sell my parents’ house?

We recommend you meet with an estate attorney to gain a better understanding of the legal requirements.

An auctioneer well versed in estate auctions can meet with you and your estate attorney to assist in answering any questions you may have.

What if my parents had a firearms collection?

Whether one firearm or an entire collection, selling guns in Ohio requires expert knowledge.

You can sell firearms at auction, but it’s important to follow all federal regulations. At KIKO, we handle many estate-related firearms auctions. We have a Federal Firearms License (FFL) to ensure compliance with federal firearms rules, including validating a buyer’s identity and running background checks.

A Real-Life Example: “It was simple, quick, and effective”

For 80 years, KIKO Realtors, Auctioneers & Advisors has helped clients navigate the estate selling process. We specialize in selling all homes on 5 acres or more, as well as organizing homes and barns to sell equipment and other personal property.

Read our full case study for a real-life instance where these questions came into play.

Learn how the weight can be lifted from your shoulders >>>