Probate is a term that is used to refer to the legal process of transferring property from the estate to a deceased’s beneficiaries. When a person dies without leaving a will, the executor of the estate is required to sell the property through a probate process which involves some strict sale procedures. After the sale, the court handling the estate then divides the proceeds among all beneficiaries. Selling a house during probate is however not an easy task for an executor especially if they do not have prior experience.
Selling a house during probate
Understand the Process
A lot of estate executors have a hard time with probate sales because they do not understand the whole process. The probate process resources will help you learn more. Many assume that once they have a buyer, the process is complete. This is however not the case. The estate representative ought to be represented by their estate attorney to present the offer to the court. Once the court approves, a sale date is set.
However, while waiting for the sale date, the court requires the property to keep being advertised. It is important to expect any changes during the waiting period. On the sale date, all interested parties ought to be present for sale to be finalized. Understanding all the steps, therefore, enables you to plan your time and meet the court’s expectation thereby making the process less stressful.
Hire an Estate Attorney
It is very important to hire an estate attorney when you are in the probate selling process. Estate attorneys are mainly responsible for handling all the legal and business aspects of the sale. These attorneys are also very important because they enable you to understand what the law expects from you during the sale.
Just like with any other property, you will need to advertise the property during a probate sale. This gives the property a lot of exposure and improves your chances of making a quick sale. Other than this, you also get an opportunity to meet different types of buyers which give you some choices to choose from. This enables you to get the best deal for the property. Selling a house during probate doesn’t have to be a dreadful experience. With these tips, you will surely have an easy time selling the property. However, it is very important to remember to hire expert real estate agents and estate attorneys to ensure things run smoothly.