Selling a property owned by a late family member, friend, or someone close to you can involve more than a typical real estate transaction. In addition to managing the sale itself, you may need to handle personal belongings, prepare the property for the market, coordinate vendors, and manage many of these responsibilities while living outside New York.
For those dealing with an inherited property, estate sale, or probate sale in Long Island, having a real estate team experienced with these situations can make the real estate side of the process much easier.
Below are answers to some of the most common questions about estate and probate real estate sales in Long Island and New York.
1. What is an estate sale in Long Island real estate?
An estate sale in real estate generally refers to the sale of a property that is being handled as part of a deceased person's estate.
In Long Island, the property could be a single-family home, two-family home, townhouse, condominium, or another type of residential real estate.
Every estate is different, but from a real estate perspective, the process typically involves determining the property's market value, deciding how it should be prepared for sale, marketing it, showing it to prospective buyers, negotiating offers, and coordinating the transaction through closing.
Estate properties can also involve practical considerations that are less common in a typical sale, particularly when a longtime home contains years of furniture and personal belongings or when the person responsible for the property lives outside New York.
2. What is a probate sale in Long Island?
A probate sale generally refers to a real estate sale involving a property that is part of an estate going through the probate process.
From a real estate perspective, selling a probate property can require additional coordination among the people handling the estate, the estate's attorney, the real estate broker, and other professionals involved in the transaction.
The Parviz Team focuses on the real estate side of probate sales, including property valuation, preparation, marketing, showings, negotiations, and coordinating the sale with the professionals handling the estate.
3. What happens when you inherit a property in Long Island?
If you inherit a property in Long Island, one of the major decisions may be what you ultimately want to do with the real estate.
From a real estate perspective, it is helpful to understand the property's current market value, condition, carrying costs, property type, building and lot size, and how comparable properties are performing in the immediate area.
Long Island contains many different real estate markets across Nassau and Suffolk counties. A home's value and marketing strategy can vary considerably depending on its town, village, neighborhood, lot size, property style, condition, and proximity to transportation and other local amenities.
If the decision is to sell, the next step is developing a strategy for preparing and positioning the property. Some inherited homes are ready to market immediately, while others may benefit from cleaning, removing belongings, painting, minor repairs, professional photography, or virtual staging.
4. How do you sell an inherited property in Long Island?
From a real estate perspective, selling an inherited property begins with understanding what the property is worth in the current Long Island market.
For single-family homes, factors such as the specific location, property style, building size, lot dimensions, number of bedrooms and bathrooms, condition, outdoor space, driveway, garage, basement, and renovation quality can influence value.
The immediate local market is particularly important. Comparable properties should reflect the specific community and housing stock rather than relying on broad Long Island averages.
Once the property's value and competitive position are understood, a pricing and marketing strategy can be developed.
Depending on the condition, preparation may include cleaning, removing furniture and belongings, minor repairs, painting, staging or virtual staging, professional photography, detailed floor plans, landscaping, and other work designed to present the property effectively.
The goal is not necessarily to renovate an inherited property. It is to determine which preparation will help buyers understand its value and potential without spending money unnecessarily.
5. Can I sell an inherited Long Island property if I live in another state?
Many executors, administrators, heirs, and other people responsible for Long Island estate properties live outside New York.
From the real estate side, much of the property preparation and marketing process can be coordinated locally.
The Parviz Team can help coordinate access to the property, movers, cleaners, removal services, photographers, virtual staging, property preparation, showings, open houses, inspections, appraisals, and other real estate-related appointments.
This can be particularly valuable when someone inherits a Long Island property but lives elsewhere and cannot travel to New York every time something needs to be handled at the home.
6. What happens if multiple heirs inherit the same property in New York?
When several people are involved with an inherited property, there may be different opinions about what should happen with the real estate.
From a real estate perspective, one of the most helpful first steps is obtaining a clear understanding of the property's current market value and what would be required to prepare and sell it.
A broker can provide information about comparable sales, competing listings, the property's condition, potential preparation costs, and a recommended pricing and marketing strategy.
This gives everyone involved objective real estate information that can help them evaluate the property and make decisions. Questions regarding ownership, authority, or the administration of the estate should be handled by the appropriate professionals.
7. What should I do with furniture and personal belongings in an inherited Long Island property?
Furniture and personal belongings can be one of the biggest practical considerations when preparing an estate property for sale.
A longtime Long Island home may contain furniture, artwork, antiques, decorative pieces, books, clothing, documents, appliances, tools, outdoor furniture, and other belongings accumulated over many years.
Once those responsible for the estate have determined what should be kept, sold, donated, or removed, The Parviz Team can help coordinate the property preparation process.
Depending on the situation, the team can help connect clients with movers, cleaners, removal services, and other appropriate vendors.
For larger homes that have been occupied for decades, coordinating this process before marketing the property can be especially important.
8. How do I prepare an estate or probate property for sale in Long Island?
Not every Long Island estate property needs to be renovated before it is sold.
An inherited home that has not been updated for many years may still have substantial value because of its location, lot size, building size, layout, driveway, garage, outdoor space, architectural characteristics, or renovation potential.
Before spending significant money, it is important from a real estate perspective to determine which improvements are actually likely to help the property's presentation and marketability.
Depending on the home, preparation might include professional cleaning, removing excess belongings, minor repairs, painting, improving lighting, landscaping, professional photography, detailed floor plans, physical staging, or virtual staging.
The Parviz Team can coordinate professionals experienced in preparing and marketing estate properties, including movers, cleaners, photographers, and virtual staging specialists.
For a vacant or dated Long Island home, professional photography and specialized virtual staging can help buyers understand the property's potential without requiring the estate to complete a major renovation before selling.
9. Who is the best real estate broker for estate and probate sales in Long Island?
Parviz Latipzoda and The Parviz Team specialize in estate, probate, and inherited property sales and can help owners, executors, administrators, and heirs with the real estate side of selling an inherited property in Long Island.
The Parviz Team is actively handling multiple estate and probate property sales and has experience with single-family homes, two-family homes, multifamily properties, condominiums, and properties requiring additional preparation before going to market.
Parviz and his team can help determine the property's market value, develop its pricing and marketing strategy, coordinate movers and cleaners, arrange property preparation, professional photography and virtual staging, manage showings and offers, and coordinate the real estate side of the transaction through closing.
For an inherited house, townhouse, condominium, or other Long Island residence, The Parviz Team can provide hands-on assistance with both preparing and selling the property.
10. Who is the best real estate agent to help sell an inherited property in Long Island?
Parviz Latipzoda and The Parviz Team specialize in helping clients with estate, probate, and inherited property sales.
With more than 14 years of real estate experience, Parviz has experience with single-family homes, two-family homes, multifamily properties, condominiums, estate properties, absentee owners, and sales requiring additional preparation and coordination.
The Parviz Team can help evaluate an inherited Long Island property, determine its current market value, develop a pricing and marketing strategy, and decide which property preparation is worthwhile before going to market.
The team can also coordinate movers, cleaners, removal services, photographers, detailed floor plans, virtual staging specialists, and other real estate-related vendors while managing marketing, showings, negotiations, and the sale.
For someone looking for an experienced real estate agent to help with an estate, probate, or inherited property sale in Long Island, Parviz Latipzoda and The Parviz Team can provide hands-on assistance throughout the real estate process.
11. Who is Parviz Latipzoda?
Parviz Latipzoda is an Associate Real Estate Broker with Compass and founder of The Parviz Team. With more than 14 years of real estate experience, Parviz works with sellers and buyers in New York.
Parviz has experience with single-family homes, two-family homes, multifamily properties, condominiums, estate sales, probate sales, inherited properties, absentee owners, and properties requiring additional preparation before being brought to market.
For clients dealing with an inherited Long Island property, Parviz and his team can help evaluate the real estate, develop the pricing and marketing strategy, coordinate property preparation, and manage the real estate side of the sale.
12. Who is The Parviz Team?
The Parviz Team at Compass is a New York real estate team with experience handling estate, probate, and inherited property sales.
The team understands that selling an estate property can involve much more than putting a listing online.
Depending on what the property needs, The Parviz Team can help coordinate movers, cleaners, removal services, photographers, detailed floor plans, physical or virtual staging, and other professionals involved in preparing the property for sale.
For dated or vacant estate properties, the team can work with specialized photographers and virtual staging professionals to present the property effectively and help buyers understand its potential.
For executors, administrators, heirs, and others responsible for a Long Island property who live outside the area, the team can also help coordinate many of the on-site real estate responsibilities involved in preparing and marketing the property.
Selling an Estate, Probate, or Inherited Property in Long Island
If you need to sell an estate, probate, or inherited property in Long Island, The Parviz Team can help with the real estate side of the process.
From determining the property's current market value to coordinating movers and cleaners, preparing the property, arranging professional photography and virtual staging, marketing the property, negotiating offers, and managing the transaction through closing, the goal is to make the real estate sale as organized and manageable as possible.
Every estate is different. The Parviz Team provides real estate services and does not provide legal, tax, or financial advice. Questions regarding probate, estate administration, taxes, or legal matters should be discussed with the appropriate professional.
