Here you are, minding your own business as you go about your day. All is peaceful, and then a family member asks for help selling their house. You’re ready and willing to help, but your mind is spinning. Where do you start with this monumental task? 

It’s difficult enough to shop for new shoes for someone else, never mind taking on a real estate transaction in today’s whirlwind market. Fortunately, you’re not alone. Help is available when you know where to look for it. 

In this post, we’ll show you what you need to know about selling a house for someone else and where to turn for advice. We will also provide a thorough checklist to ensure you don’t forget any of the essential steps. 

How Involved Will You Be in the Transaction?

Before diving too deep into the details, you should first have an understanding of the scope of what your family member needs help with. Selling a home when your name isn’t on the title can involve several legal implications. Planning these details out in advance will streamline the transaction and save everyone a lot of stress along the way.

• If your relative wants you to handle everything while they spend the next few months overseas, you will need to become their Power of Attorney. 
• In the event that you are selling on behalf of a family member who has passed away, you need to be the Executor of the estate. 
• If they simply want your advice, support or muscle on moving day, you won’t need any special legal documentation.

Are you looking for more information on the legal aspects of real estate? Check out Selling a Home for Someone Else? Here’s What You Need to Know.

What Are Your Responsibilities?

You have a certain amount of responsibility when helping a family member or loved one sell their house. Even if you’re not officially the Power of Attorney, you should always do everything possible to achieve the best results from the transaction. When a Power of Attorney agreement is in place, you actually have a fiduciary duty towards your family member. This means you are legally obligated to work in their best interests at all times. Below is an overview of what this might look like: 

• You have a clear understanding of your family member’s goals and wishes.
• You will do your due diligence to ensure the property sells quickly and earns a fair price for the homeowner.
• You will keep accurate records related to the transaction.

If this sounds like a big responsibility, there’s a good reason. Selling a home for someone else is a massive undertaking. Though there are many similarities between selling your home and someone else’s, there are also a few significant differences. 

For example, when selling your own home, your focus is likely on earning the highest amount possible. This is especially true when you’re upgrading to a bigger space or more expensive neighbourhood. However, your family member may have different priorities. While everyone wants to earn as much they can, selling fast might be more urgent depending on their situation. Whatever their needs are, you have plenty of resources to ensure the sale is seamless and successful.

Do you need help navigating other challenges when selling a house? The resources below may be helpful:

• Can You Successfully Sell a House With a Stigma?
• How to Sell Your Home After a Divorce
• Can You Sell a House When You Have Tenants?

Bring in the Professionals

Your task of helping someone else sell their house will be far easier for everyone if you work with an experienced real estate agent right from the beginning. You will also need a lawyer at some point. However, a knowledgeable Realtor® can be your one-stop resource for everything else along the way. 

Expert guidance will prevent you from making costly mistakes while ensuring every step to maximize the sale falls into place. Of course, this brings up another question. How do you find the right real estate team to streamline this transition? The guidelines below will help:

• Look for an experienced team who has dealt with every type of transaction–including those involving Power of Attorney or estate sales.  
• Do they have an established web presence with significant traffic? This is critical since so many buyers in today’s market begin searching for a new house online.
• Have they succeeded in all types of markets? A high-quality real estate agent should know how to navigate both busy and slow times in the market.
• Are they a full-service team or will you be expected to handle most of the work yourself? This can be the deciding factor when you have a busy life and are not immersed in the real estate market. 

Finding the right real estate agent involves some background research, but it is well worth the effort. Through them, you’ll also have access to other contacts you will need to help you fulfill your obligations to your family member. These may include lawyers, financial advisors, professional tradespeople, cleaners and moving companies. 

A Comprehensive Checklist When Selling a House for Someone Else

Real estate transactions can be stressful at the best of times, especially in an uncertain or shifting market. Taking on the responsibility for someone else is even more challenging. We’ve created the following checklist to help you proceed with confidence.

Before the sale

• Contact a real estate agent. A local expert who has experience with Power of Attorney or estate sales will be able to answer your questions and guide you through every other step. Plus, they can put you in contact with any other professional service you may need later on. 
• Determine what legal authority you need, if any. It will be beneficial to have an experienced real estate lawyer by your side, whether you pursue Power of Attorney or not. A lawyer can also help you settle any issues that might complicate the transfer of ownership. 
• Talk to your family member to understand their goals. See what they want to achieve from the sale and help them form realistic expectations. If they want the highest price possible, it will take more time to properly prepare and stage the home. 
• Assess the property. Your real estate agent can perform a home evaluation to estimate its value in today’s market. In addition, they can suggest minor repairs that could result in a higher selling price. 

During the Sale

• Work with the real estate agent to evaluate all incoming offers. If your family member wishes to be informed, be sure to keep them in the loop as well. 
• Be ready to pivot your selling strategy whenever necessary. If all goes well, you should be scheduling showings shortly after the listing goes live. If not, you may need to reevaluate your price or marketing strategy.
• Keep the home clean and ready to welcome potential buyers. In addition, try to keep your schedule open to allow buyers to walk through when it’s convenient for them. Remember, you do not have to be present for showings. The real estate agent will be there to show the property and answer any questions.
• Don’t devalue the property, but be willing to negotiate with buyers. Depending on the current market conditions, you may need to make some small concessions to make the home more appealing.

Is achieving the highest possible price is critical for your loved one? If so, the following posts will help:

• Worth It or Not? What Renovations Really Help When Selling Your Home
• The Power of Staging When Selling Your Home
• Minor Upgrades, Maximum Results

After the Sale 

• Maintain the property. The buyer has the right to receive the home in the condition it was when they bought it. The seller is responsible if any damage occurs between now and the closing date. Taking good care of the property will save you from a lot of unnecessary expense and hassle.
• Work with the real estate lawyer to close the transaction. Selling a home involves a mountain of paperwork. If you are the Power of Attorney, you can sign documents on your family member’s behalf. If not, you can work as a go-between to help them understand the process.
• Tell your relative the great news that their house is sold! The transaction is over, but you can still be there to support them as they plan for their next chapter.

Do you need more guidance in selling your home or for someone else? We are here for you no matter what. Reach out today or call 905-332-9223 to connect with a compassionate expert today.