How to Sell a Probate Home
Do You Have a Probate Home to Sell?
Many personal representatives the have inherited properties that they need to sell. The property is in probate and may need to be sold to pay creditors and/or heirs to the estate. States differ in how probate process works. Sometimes a house that needs to go through probate will need a lot of work or there can be liens owed or no one wants the house. Probate costs vary depending on the size of the estate and number of properties it has. The legal process of Probate will usually be successful if all of the family agree on things.
What is a probate anyway?
Probate is the judicial process whereby a will is “proved” in a court of law and accepted as a valid public document that is the true last testament of the deceased, or whereby the estate is settled according to the laws of intestacy in the state of residence [or real property] of the deceased at time of death in the absence of a legal will.is a legal way of determining who can authorize the sale of a property of a deceased person (decedent) if the person never left a will.
Sometimes a property will be placed in a Trust. If the Trust has a Successor Trustee that is alive, a property will typically not need to go through probate. Only properties that are not part of a valid Trust that have specific instructions on how his or her property was to be administered after they are dead, need to go through probate. These proceedings take place in probate courts. Sometimes an inherited house can need lots of work or have liens against it in Utah. We Are Not Attorneys, but advise you as to the real estate side and what we know about the market. We can direct you to a recommenced probate / estate attorney who then may advise you.
We Can Help You Sell A Probate House No Matter Where You Are in the Process.
- We have a list of attorneys we work with that will do the probate for you
- Many will let you pay for the probate as part of a sale
- If you wish You an leave the house in its current condition
- We have a list of person property liquidators.
- Moving and Storage companies are provided
- Contractors for any repairs to property to maximize it’s value.
The Process of Selling a Probate House
The probate process begins after a person dies. Soon after this, the seller is expected to inform the court, which appoints a Personal Representative using a document called a Letter of Testamentary (deceased has a Will) or Letters of Administration (deceased has no Will) to take care of the sale. Once this is done, the Personal Representative advertises the property just like other real estate properties. The price can be based on a Real Estate Agent’s suggestion and also from an independent appraisal ordered by the Personal Representative.