Start to finish
Schedule of events
Tasks of executor
1) What is a Probate Sale?
A home is sold in probate court when someone dies intestate or without bequeathing their property.
Our Realtor fees are the same for Probate Sales as they are for Standard Sales (even though much more work is involved with Probate Sales). ALL our additional services that are incurred due to the Probate process are FREE to you. We have Successfully closed many Probate/Trust Sales for All of our previous Probate Sale and Trust Sale clients. Other selling expenses typically run more than a standard sale due to court fees and length of the process.
Exemptions – There are several California disclosure exemptions; Most Notably sellers are exempt from providing Natural Hazard Reports, Transfer Disclosure Statements, and Mello Roos Disclosures. Earthquake guides are also exempt. Smoke Detectors requirements for Single Family Residences are also exempt.
Court Case Disclosure – The Case#, who the Court Appointed Representative is, and whether it is an Estate, Conservatorship, or Guardianship.
It depends on the authority of the Probate court appointed representative. With Court Confirmation Needed, the appointee has “limited authority” to sell the property and needs final approval through the court process. Without Court Confirmation needed, the Appointee has full authority to execute the sale of the property
Under the IAEA (Independent Administration of Estates Act) the Executor, or Administrator, does have full authority which confers the right to sell real estate property without court approval. This sale progresses much like a “standard sale” in California Real Estate, with slight changes in disclosures the sellers must provide. A Probate Realtor should provide you with all the necessary documentation.
The Executor or Administrator has “Limited Authority.”. This option comes with certain requirements. First, the accepted offer on real property must be at least 90% of the value established by the Probate Referee. Once an offer is accepted a court hearing is scheduled by the attorney for the Executor. See/click “Probate Basics Understood” overbidding process.
I use my proven “Fix & Sell Strategy” to maximize the price of your family home and at the same time take care of everything from A to Z! I will do initial walkthroughs and generate a detailed list of suggested repairs. I will then get price estimates from the appropriate contractors who are on my approved list. I will present the list and bids to you and discuss which improvements make the most sense to you. The goal is to sell the home for the most amount of money in the shortest amount of time with the highest return on investment. If you choose to go forward with any of the improvements, I will be 100% responsible for coordinating the work from start to finish.
YES. For real estate professionals who understand Probate Sale and Trust Sale Properties, the reverse mortgage is a common occurrence.
See/click “Real Estate Transaction Time Line.”
YES. There can be benefits of short selling the home versus letting the property being foreclosed.
California law mandates that we must disclose a passing on the property if it occurred within 3 years of selling property. Most buyers understand that these things happen in homes. We do our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs are. Our Marketing to the general public Will Not indicate anywhere that your home is a Probate Sale. However, the one place we are obligated to designate your home as a Probate Sale is our MLS.
Are they impossible? Absolutely Not! We have a 100% Success rate in receiving Probate Sale Approvals from the Courts/ Banks / Lenders. Do Probate Sales take longer than Standard Sales? Probably, but depending on the situation and what type of Authority the executors/administrators have, we expect anywhere from 90-120 days Maximum.
Don’t Worry! In fact, we are getting calls from buyers who say they like looking at Probate sale properties. We expect multiple offers on your home within 10 days.
For buyers, Probate Sale Properties have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in probates will provide you with a great chance of quickly seeing a contract on your property.
It Depends. Most Administrators are not happy with the small amount of money coming in monthly payments and really not interested in becoming landlords. But for some Administrators the monthly payments are enough to satisfy them. They are able to afford future maintenance & repair costs, and they feel that the home will appreciate.
However, the great majority of homeowners are now opting to Probate Sale their home for the following reasons:
- They are not with happy with the depreciation and drop in value of their home.
- The potential repair and maintenance costs may put them right back into Default.
- Their income and expenses will still be a struggle.
- They just want to move forward and sell all assets.
- They wish to put their money towards another investment.
Contact us for a FREE Consultation. Call Glenn Allen at (925) 709-1000 or fill out the contact form provided on this page. The Consultation is Free. I do all the negotiations for you with only your best interests in mind, and you can rest assured that you have a Probate Sale Expert working for you that will deliver a smooth, hassle free process.
*The information presented in this website is for informational purposes only and should not be construed to be formal advice. Please consult a tax accountant and attorney before making any decisions regarding your house, legal advice, financial advice, or its tax implications.