Q: How does probate value a home if it is in disrepair? SEV currently does not appear to reflect interior condition.
Brother died, no will, siblings only heirs. He did not work, was on SSI. Owned two inoperable vehicles and a home in disrepair (plumbing, mold, asbestos, and electrical problems as well as bio hazard situation following his unattended death). Liens for unpaid taxes and water bills. Credit card debt outstanding (cards cancelled and debt remained unpaid). Other possible creditors unknown. Siblings do not want home but do not want it to just sit. Can it be sold to cash buyer "as is" and at what price? There is no value in the estate after accounting for costs of home repair, outstanding liens, and creditors.
A: Best practice would be to get an appraisal. Then sell it for what you can get. It doesn't sound like any of the siblings will bicker too much about the sale price; and unless they do and go to court over it, there shouldn't be a problem. The personal representative has an obligation to get the best price for the conditions.
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