It is often easier to sell a property before death. When a property is passed on after death, the heir receives what is known as a step-up basis for capital gains tax purposes. This is likely to decrease the amount of capital gains taxes owned on the property at the time it is sold. This step-up basis is not received when a property is transferred before death.
Most parents leave the property for their children upon death. But there is an alternative that may work out better for heirs. Children can place an offer on the house and let their parent or parents know after everything has been worked out. Then if they agree upon it, you can receive the money from selling the home before their death to use for several things. For example, you could invest the money, pay off your existing mortgage and bills, or want to keep the money safe for when you need it later.
More people are going the route of selling their parent’s homes before their death because of how stressful the process can be after death. But often, people don’t know where to start regarding these matters. But all you need to do is, make a plan and follow through on it.