CHAPTER 5 How Selling a House in an Estate Differs from Regular Home Sales egular Home Sales Selling a House in Probate When a person dies without a will (intestate) or without designating property heirs, their estate—including real estate—goes through probate court. The court oversees the sale, ensuring it is marketed and sold at the best possible price while adhering to state-specific probate laws. A knowledgeable real estate agent with probate experience is essential for navigating this process.
What is a Probate Sale
A probate sale is a court-regulated process where an executor or administrator sells a deceased person's property to distribute proceeds among beneficiaries. If no will exists, a court- appointed administrator manages the sale. The process typically involves property valuation by a probate referee and, in some cases, avoids probate altogether if a valid living trust exists. Key Considerations: • Probate sales incur legal fees, court costs, and arbitration expenses (often around 6% of the estate value). • Executors may bypass court confirmation if permitted by estate laws, expediting the sale. • Specialized legal and real estate professionals are recommended for handling complex probate transactions.
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