How To Sell a House During Probate
Dealing with a property after the death of a family member can be stressful. Learn how you can sell a house in probate efficiently.
Dealing with probate property after a family member’s death can be complex. The probate process is detailed, and navigating it while grieving can make the experience more grueling than it should be. The probate house sale process often begins with a will. Only after the probate court has supervised the process and distributed the deceased person’s estate can the sale be finalized.
There’s no need to enter probate court unprepared. With proper research, you can source the tools you need to understand the proceedings and meet the requirements to sell a house fast during probate. Keep reading to learn more about probate and your place in the system.
Can You Sell a House During Probate?
Yes. You can sell probate property during the process as long as the proceeds are distributed according to probate law. Executors of the estate have the power to see the home sale through. After the house is sold and any probate costs and estate debts are covered, the probate court disperses the remaining cash among the beneficiaries. It’s necessary for the profit from a home sale to first be applied to any outstanding fees because probate court isn’t free.
You can sell your home during probate, whether you want to get rid of the probate property and pocket the profit or use the proceeds from a home sale to cover expensive administration costs and court fees.
Who Gets Paid When Selling a House in Probate?
Speaking with multiple parties following the death of a family member can feel like the last thing you want to do. Unfortunately, rushing the probate process and scrambling for a quick cash offer can lead to further expenses and a more complicated result. From creditors and funeral home services to federal tax offices and other state personnel, dealing with strangers and paying them a cut of the profit when selling a house in probate is inevitable.
However, the experience doesn’t have to be miserable. Familiarizing yourself with probate law can give you the upper hand in court. With the right information, you can go through the process confidently. Before you know it, you’ll be out of court and have a complete real estate sale behind you.
You don’t need to feel stuck in the home sale process. Trinity Home Buyers cuts out the fluff and gives you a clear-cut path to a fair and secure cash offer.
Tips for Navigating the Probate House Sale Process
Downsizing your home doesn’t have to be costly, time-consuming, and burdensome. Working with Trinity Home Buyers allows you to:
Name an Executor of the Estate
The probate court will acknowledge or appoint an estate executor to start the probate house sale process. If the deceased person named an estate executor in the will, they would oversee the home sale. If not, the court will appoint someone to act as executor or administrator.
The executor evaluates the assets listed in the will, including the probate property. Before an executor can list the house for sale and consider potential buyers, they need detailed valuations of all the real estate in question.
Consider a Probate Attorney
It’s easy to become overwhelmed by the probate process as a beneficiary or executor. Hiring a probate attorney can relieve some of the stress involved with selling a house. And you face less liability when you allow a professional to lend a hand and guide you through the process. If you’re worried about finding the paperwork and other documentation to see a home sale through, a probate attorney can simplify the task.
Appraise the Probate Property and Enter the Market
As you work to sell your probate property, the court must sign off on your efforts at every step of the way. Real estate sales under probate law are detailed and time-consuming, often taking over six months to complete.
As part of the process, the executor must appraise the real estate according to specific requirements. The court requires probate property to sell for at least 90% of the appraised value. You can entertain potential buyers only after the court has received your petition and given permission for a listing. Once someone makes an offer, you must schedule another court hearing and publish the real estate sale (including the potential buyer’s offer) to allow other buyers the opportunity to bid at the probate court date.
Finalize the Sale Through Probate Court
The bidding process takes place at probate. All interested potential buyers have the chance to bid on the property. Under probate law, the first overbid has to be at least 105% of the original buyer’s offer plus $500. Additional bids must increase in $5000 to $10,000 intervals. The estate’s personal representative can finish the probate house sale process once the court confirms the final offer.
Sell Your House Fast During the Probate Process
There’s no getting around it—selling a house in probate is time-consuming. You must follow probate law and allow time for filing and hearings before seeing your cash. When you work with a traditional real estate agent, you risk extending the timeline.
Trinity Home Buyers simplifies the probate house sale process as much as possible by extending cash offers for probate properties. We provide a straightforward process that eliminates unnecessary busywork and ensures you can sell your home quickly, securely, and worry-free. We understand you have a lot to deal with and want the space to grieve your deceased family member. That’s why we provide easy transactions during difficult times.
Once we connect with you and complete a property walkthrough, you can expect a deal from our professionals and a closed deal within 21 days. And don’t worry about repairs—we purchase homes as-is. No exceptions.
Ready for a fair cash offer on your probate property? Reach out today.
Fast, Fair, and No Repairs
Trinity Home Buyers finds you a quick and direct path to downsize your home.
We provide a hassle-free experience with no surprises and the support you need to reach the closing date.
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