• Overbidders must provide a cashier’s check for at least 10% of the overbid amount. Why Work with a Probate Specialist? Probate sales involve complex contracts, legal disclosures, and unique terminology. A real estate agent with probate expertise ensures: • Clear communication between all parties.
• Compliance with court and legal requirements. • Efficient handling of specialized contracts and disclosures.
Successfully navigating a probate sale requires knowledge, patience, and legal expertise. Partnering with an experienced attorney and real estate agent can help heirs and executors maximize estate value while minimizing delays and complications.
EXAMPLE: A property is listed at $200,000.
The accepted offer is $175,000.
The minimum overbid is calculated as follows:
Accepted offer = $175,000
+.10 x $10,000 = $1,000
+ .05 x $165,000 = $8,250
Minimum overbid = $184,250
x .10 = $18,425 required amount of cashier’s check
If there is more than one over-bidder, the highest bid takes the property. Giving a cashier’s check to the Executor/Administrator
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