Selling A House In Probate
Most inheritors want to sell the properties willed to them. Why? Because they are owners already.
In a probate sale, an individual, called an executor is granted the right to sell the properties of the deceased. The executor derives this right in two ways.
- The will of the deceased, which primarily and initially allocates and confers ownership of said property;
- The laws of the state which grants powers to the individual and makes them the executors of the property.
To sell a house in probate, you have to strictly follow guidelines set by your state. Many times, the process is a challenging one that can take a toll on the mourning family, and with the death of a family member, selling a house during these times can be too difficult. There are lots of legal requirements and documents to submit and fill.
What Are the General Procedures?
The general procedure to selling a house in probate, while it might differ from state to state, are:
- Estimate the value of the property you intend to sell in probate.
- From the court, you obtain a petition to sell the property. You will have to fill in a lot of necessary details here, including how you plan to sell the house, whether by bidding processes or by listing the property.
- Wait for approval to go ahead and sale from the court. This usually takes between 6 to 10 weeks. Even if you already have a buyer, you still have to wait for the go ahead from the court.
- The court can also ask if any individual or interested party wants to bid on the house. While there are other steps and procedures to be taken regarding this, the court generally accepts the offer from the highest bidder. You should know that the starting bid must be higher than the original buyer’s offer.
- In any case, the court after granting a go ahead to sell, notifies all necessary parties like the relatives of the deceased. If there are no objections after a certain period of time, then a time and date to proceed with the sale is finalized.
We Understand And Are Ready To Help
At Vision Property Investment Group, we buy your house directly. That is because we fully understand the hassles and complex paperwork and delays, and we don’t want any one going through such grueling and trying times to have to go through these processes alone.
We are always ready to buy your house, and help you end the frustration you might be going through. We give you cash on sale, with a fair deal on the property.
You don’t need to worry about fixing damages on or in the house as we buy properties the way they are. We don’t believe any house is ugly, and it doesn’t matter how you see the building; we are ready to buy.
More interestingly, all that money goes directly to you without splitting commissions and fees.