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Selling a House in Probate in South Tampa
Quite often individuals are left with a family home as a result of the passing of a loved one. This means you’ve likely inherited a house.
In many cases, this means that it is a second home and not one that they wish to keep so they want to sell it. When the Will is going through probate, the heirs often want to sell the house…even while the house is in probate..
Unfortunately, selling a house in probate is not an easy process and can be lengthy and somewhat frustrating.
There are cases where you can sell a house without probate.
The individual that will be responsible for seeing that everything that has been outlined in the will is carried out will be the administrator or executor. The executor will be the one that has been named in the will to act as such, and if no one has been named then usually the closest relative is appointed to the administration position which can be done by the court or other close relatives.
When selling a house in probate it has to go through a series of steps that are regulated by the courts. These regulations may include deadlines as a well as documentation that has to be paid close attention to through the entire real estate in probate sale process. There are many details involved in.
When it comes to selling a house in probate the value of it has to be determined first. This is done through a proper appraisal and most often the an agent that you choose to handle the sale of the property will be able to recommend a proper appraiser.
You can then go through with. A probate sale is granted beginning with this step.
Quite often potential buyers are looking for a cheap buy when it comes to a home being sold in probate.
What has to be remembered is that there are court rulings in place regarding the sale, which is the offer has to be within the 90% of the sale appraised value. Selling a house after probate allows the executor or administrator to enter into the necessary contracts.
Once this has been completed and the offer has been presented and accepted, then the court requires a notice of proposed action to be mailed to all the heirs that were named in the estate. This allows the heirs time to present any objections that they may have. If none is raised, then the sale can go ahead without the necessity of a court hearing. This is where it can sometimes become frustrating for those selling a house in probate.
In some cases when selling a house in probate it may be mandatory that the notice of the sale is published in a local newspaper. This could be because the executor or administrator did not have all the powers necessary, or an objection was lodged by one of the heirs.
A court date has to be set for the confirmation hearing which usually takes place between 60 to 90 days after filing of the application and the details again may be mailed to all parties concerned.
There are some stipulations within the estate law that do allow for selling a house without probate. Normally the executor or administrator of the will doesn’t have the necessary authority to sell a house unless probate is in place. Probate may be possibly avoided if the deceased placed the home in a living trust while still living.
It is really important that the proper professionals are chosen to assist you through the probate sale as it can be most complicated and it is taking place at a time where family members are going through the stress of losing a loved one, and this is just a added burden for them to have to attend to. When the process is followed properly it usually flows in the proper manner and the big concern is having the right realtor on board to get the price that has been placed on the home by being pro active and energetic in their selling responsibilities.
Want to find out more? Here’s an article we have that shows you how to sell an inherited house.
If you want to know your options when inheriting a house, read this article.
Find out whether you can get a cash offer to buy the house in probate. We buy houses cash in South Tampa and can bring you an offer. We have experience with helping people sell a property even when it is in probate or about to go through the probate process. We can even help defer some of the costs of the probate until the sale is finalized, so you don’t have to take money out of your own pocket to pay for attorneys and other fees.
If you have any questions about how this works, please call us at 813-784-4199. We’re here to help…even if you decide not to sell the house.