Property sale
Selling a deceased estate property is different from a standard sale. The executor has legal obligations around disclosure, and the process often takes longer. Working with an agent who has experience in deceased estate sales makes a significant difference.
General guidance only — not legal or financial advice. Every estate is different. Consult a professional for your specific situation.
Executor obligations
As executor, you have a fiduciary duty to achieve the best reasonable price for the property — not simply a fast sale. You must not sell to a related party at below-market value without the informed consent of all beneficiaries. Keep records of how you chose the agent and how you assessed the sale price.
Registered valuation
Get a registered valuation before going to market. This protects you as executor by establishing an independent view of market value. It is also useful evidence if any beneficiary later questions the sale price.
Choosing an agent
Not all real estate agents have experience with deceased estates. Look for agents who understand the executor's obligations, are comfortable with longer timelines, and have dealt with multi-beneficiary situations. Ask directly about their experience with deceased estate sales.
Disclosure requirements
Executors must disclose known defects in the property, just as any vendor would. If you are uncertain about the property's condition (because you did not live there), commission a pre-sale building inspection. This protects you and gives buyers confidence.
Timeline and settlement
Allow more time than a standard sale. Probate must be granted before settlement can occur. Beneficiaries may need to be consulted on significant decisions. A longer settlement date (60–90 days) is often appropriate and most buyers will accept this for a deceased estate.
Checklist — Property sale
- Obtain a registered property valuation
- Choose an agent with deceased estate experience
- Commission a pre-sale building inspection
- Confirm probate is granted before setting settlement date
- Allow a longer settlement period (60–90 days)
- Ensure sale proceeds are paid to the estate account
- Keep records of all decisions for the estate accounts
Who can help at this stage
EstateCompass lists verified NZ providers who specialise in this area.