Legal Question in Wills and Trusts in North Carolina
I am the executor of a will. The will states all possessions must be sold. How do I determine what I have to sell them for? (ex. house and car?) Is there a minimum price that I can sell the car or house for? Who decides what it is worth and what I can sell it for? What if I want to buy the car myself, what kind of price do I need to choose?
1 Answer from Attorneys
You have to get the items appraised and sell them for whatever they are worth. They are worth whatever a buyer is willing to pay. For example, if the deceased had a car, you will see what other cars of the same make and model and condition are selling for. If you do not get it appraised, check out www.kbb.com, www.edmunds.com and www.nadaguide.com and use an average of the figures for a private party sale if you are going to buy the car.
For the house, get a realtor. If you insist on selling it yourself, then look and see what comparable homes in your area are selling for. While it is possible to sell it yourself, if you do not have time to market and show the home then you will be better off with a realtor.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
