process best left to professionals. The county court will provide the required forms, which include notifying the deceased’s creditors.
Probate Sales vs. Regular Home Sales
In the case of real estate specifically mentioned in a will, the executor can sometimes avoid the probate court process by requesting the sale be confirmed under estate laws. This accelerates the process and reduces costs, allowing the home to be sold like any other property. The executor can accept the best offer and move forward with the sale without the full range of requirements needed for a regular real estate transfer. However, heirs may be required to sign a waiver to confirm the action. Because courts are involved in probate, these sales involve different vocabulary, documentation, and contracts compared to regular transactions. A skilled real estate agent familiar with the probate process and legal terms will be invaluable when navigating this sale.
Steps for Probate Transactions
Selling real property through probate requires careful handling and strict adherence to deadlines, documentation, and court oversight. The typical process includes: 1. Appointment of an Administrator or Executor: The deceased's will usually designates an executor to handle asset distribution. If there's no will or the designated executor is unavailable, the court will appoint an administrator. 2. Property Appraisal and Listing Price: The executor sets a listing price, which is often based on an appraisal by a probate referee. The price is also influenced by advice from a real estate agent experienced with probate and trust sales.
21
Powered by FlippingBook