Even though selling a house that is still in probate can be complicated, it is still possible. You need to follow a series of court-mandated procedures, and the process can be tiring.
Selling a probate house involves the beneficiaries of the will, the executor, the court, the potential buyers, creditor, and any person contesting the will. These people must follow strict rules during this process.
If you have a house that you need to sell, but it is in probate, you need an experienced probate lawyer to help you navigate all of the rules and regulations. The lawyer should also explain everything clearly and finalize the sale.
What is a Probate Sale?
If a deceased person has a property with no heirs attached to it, the property goes through probate to transfer the property to the name of the beneficiaries or heirs. This holds uniquely true if the will does not specify who will inherit the estate. When you put a deceased individual’s assets on a probate sale, it can generate more income that will eventually be distributed to the likely heirs of the deceased person.
The Probate Sale Process
A house sold in probate is sold as-is. Before putting the house on probate, the court will appoint an executor of the will. The executor is usually the closest relative of the deceased person and will be given the authority to list and sell the property. The executor also establishes the price for the property, depending on the appraised price set by the probate referee. Once the list price is determined, the property is listed for sale with the help of a real estate agent. In this case, it is essential to hire a reliable real estate agent to market the property to the public.
There are several ways to market the property, such as signage, paper advertising, posting on real estate websites, open houses, and many more to attract potential homebuyers. Once the right homebuyer is found, a Notice of Proposed Action is sent to the heirs to indicate the terms of the sale. The executor will then publish the deal before the estate lawyer applies for a court date to execute the sale. This process typically takes 30 to 45 days from the time of the application.
How to Sell My House Fast and Get a Better Price?
When you sell a property that is in probate, it might give you a lower profit, but there is a way to “sell my house fast” and still get good cash. You can seek help from professional home buyers like Sell my House Fast Miami, who can buy your property immediately. We have a lot of experience buying properties in Florida. We can provide you instant cash for your house at even a reasonable price so that you sell my house fast on probate hassle-free.
As one of the heirs of the estate, it will be beneficial to you as you can generate more profit on the sale. Less all the headaches related to selling a house on probate.