executor to sell the real estate, once appointed by the Court the executor may proceed with the sale of the property typically without further court approval. This saves both money and time, as the property can then be listed and sold like any other home. The executor will accept the best offer and proceed to sign and close the deal like any other real estate transaction, but without court approval required. As a precaution, the executor may have all other heirs sign a waiver or release approving the sale to avoid later objections by an heir. In addition, the real estate agent may have additional forms and disclosures statements that need to be signed to complete the transaction. If you are buying or selling real property through a probate transaction, then you absolutely must use a real estate agent who has experience with these types of transactions, including trust sales. The agent will be experienced with the special language used with these transactions and can explain the language to you. This includes all the steps and documentation that come with these transactions, as clear communication in probate sales is critically vital.
STEPS FOR PROBATE TRANSACTIONS
Selling real property through probate is a court-regulated process that requires careful management. There are strict deadlines, specialized documentation, and court oversight throughout the property’s marketing, offers, negotiations, and sale. The sale generally involves the executor or administrator of the estate, perhaps an attorney representing the estate, a real estate agent representing the seller (the estate), one or more buyers who place bids with the court, and, often, buyers’ real estate agents. Those unfamiliar with probate sales will not understand the specialized vocabulary of probate sales. Such transactions also involve disclosure documents and contracts not used in other real estate transactions. A real estate agent should be experienced
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