CHAPTER 5 How Selling a House in an Estate Differs from Regular Home Sales Selling a house through an estate, particularly during probate, is a unique process. When a person makes their transition without a will (intestate) or doesn't specify what happens to their property, the state steps in to manage the sale according to its laws. The court is responsible for ensuring the property is marketed and sold at the best possible price, and it requires specific steps, processes, and procedures to be followed. Probate laws differ by state, so it's essential to work with a real estate agent who understands both general probate sales and the laws specific to the state where the sale will take place.
What is a Probate Sale?
A probate sale occurs when an estate is administered by a court following the death of an individual, and the estate's real property (usually a home) is sold to distribute the value among the beneficiaries. The estate’s personal representative (the executor) will determine whether the real estate will be sold. They are not required to hire a real estate agent, though doing so is highly recommended for the best outcome. A probate referee may be involved to determine the real estate’s value. If the deceased had a valid living trust, the estate may bypass the lengthy and costly probate process. This avoids fees, including those for attorneys, court costs, and arbitrators, which can amount to approximately 6% of the estate's value. Although probate can be handled independently, it's a complex 20
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