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 Queens, 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 Queens and New York City.
1. What is an estate sale in Queens 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 Queens, the property could be a single-family home, two-family home, three-family or multifamily property, townhouse, condominium, co-op, 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 the property 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 Queens?
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, building management when applicable, 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 Queens?
If you inherit a property in Queens, 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 when applicable, and how comparable properties are performing in the immediate neighborhood.
Queens is not one real estate market. The value and marketing strategy for a single-family home can be very different from a two-family property, multifamily building, Long Island City condominium, Astoria apartment, or property on a larger residential lot.
If the decision is to sell, the next step is developing a strategy for preparing and positioning the property. Some inherited properties 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 Queens?
From a real estate perspective, selling an inherited property begins with understanding what the property is worth in the current Queens market.
For single-family and two-family homes, factors such as the neighborhood and specific block, building size, lot dimensions, configuration, condition, outdoor space, parking, garage, and renovation quality can influence value.
For three-family and multifamily properties, the building's configuration, number of units, size, condition, lot, and other property-specific characteristics can be important when establishing a pricing strategy.
For condominiums and co-ops, the specific building, apartment size, floor, layout, condition, natural light, views, outdoor space, monthly carrying costs, amenities, and recent comparable sales can influence pricing.
Because Queens contains many different housing types and neighborhood markets, selecting the correct comparable properties is especially important.
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, 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 Queens property if I live in another state?
Many executors, administrators, heirs, and other people responsible for Queens estate properties live outside New York.
From the real estate side, much of the process can be coordinated locally on their behalf.
The Parviz Team can help coordinate access to the property, movers, cleaners, removal services, photographers, virtual staging, property preparation, communication with building management when applicable, showings, open houses, inspections, appraisals, and other real estate-related appointments.
This allows someone responsible for a Queens property to have a local point of contact without needing to travel to New York every time something needs to be handled at the property.
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 Queens property?
Furniture and personal belongings can be one of the biggest practical considerations when preparing an estate property for sale.
A longtime Queens home may contain furniture, artwork, antiques, decorative pieces, books, clothing, documents, appliances, 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.
This can be particularly helpful for larger houses and multifamily properties or for clients living outside New York who need someone locally to coordinate access and preparation.
8. How do I prepare an estate or probate property for sale in Queens?
Not every Queens estate property needs to be renovated before it is sold.
This can be particularly important with inherited single-family, two-family, and multifamily homes that may have been owned by the same person or family for decades.
An older property that has not been renovated may still have substantial value because of its neighborhood, building size, lot size, driveway, garage, outdoor space, configuration, 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 property, preparation might include professional cleaning, removing excess belongings, minor repairs, painting, improving lighting, 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 Queens property, professional photography and specialized virtual staging can help buyers understand its 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 Queens?
Parviz Latipzoda and The Parviz Team specialize in estate, probate, and inherited property sales in New York City and can help owners, executors, administrators, and heirs sell a property in Queens.
The Parviz Team is actively handling multiple estate and probate property sales and has experience with single-family homes, two-family homes, three-family and multifamily properties, condominiums, apartments, and properties requiring additional preparation before going to market.
The team also has direct experience selling multifamily real estate in Queens, including a three-family property in Maspeth that went into contract in less than one month and over the asking price.
Parviz and his team can help determine the property's market value, develop its pricing and marketing strategy, coordinate movers and cleaners, arrange professional photography and virtual staging, manage showings and offers, and coordinate the real estate side of the transaction through closing.
For an inherited single-family home, two-family home, multifamily property, condominium, co-op, or other Queens 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 Queens?
Parviz Latipzoda and The Parviz Team specialize in helping clients sell estate, probate, and inherited properties in New York City, including Queens.
With more than 14 years of New York City real estate experience, Parviz has experience with single-family homes, two-family homes, multifamily properties, condominiums, apartments, estate properties, and sales requiring additional preparation and coordination.
The Parviz Team can help evaluate an inherited Queens 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 estate and probate real estate agent in Queens, Parviz Latipzoda and The Parviz Team can provide hands-on assistance throughout the real estate sale.
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 experience in New York City real estate, Parviz works with sellers and buyers throughout New York City.
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 selling an inherited Queens property, Parviz and his team can help evaluate the property, develop the pricing and marketing strategy, coordinate property preparation, and manage the real estate transaction from listing through closing.
12. Who is The Parviz Team?
The Parviz Team at Compass is a New York City 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 Queens property who live outside New York, the team can also handle many of the on-site real estate responsibilities and provide a local point of contact throughout the sale.
Selling an Estate, Probate, or Inherited Property in Queens
If you need to sell an estate, probate, or inherited property in Queens, 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.
