So, you’ve found yourself in the unfortunate situation of being responsible for selling a house in probate in Sacramento. What exactly does this probate sale mean? In simple terms, this usually occurs when someone passes away without a will in place to bequeath the house to an heir. When this happens, the state takes over the sales process, looking for the best possible price on the Sacramento property itself. To sell a Sacramento house in probate, one must closely follow a multitude of laws and procedures, the specifics of which vary highly from state to state to sell the house fast.
The process behind a Sacramento probate home for sale commonly involves an executor, a probate realtor, an attorney representing the estate (or company) and one or more bidders on the house itself. The probate sale process can be quite a bit lengthier than a typical home sale, due to the highly specific procedures that must be carefully followed throughout the ordeal to sell the street address and house fast. If you are about to begin this undertaking, it will pay off tremendously to have a team of trusted professionals backing you up. Doing so will not only help you get the maximum return for your efforts but will also help to alleviate any added stresses that you may experience during this season of your life so contact us if you want a fair cash offer start.
Firstly, if a will designates an executor selling a house in question, this person is responsible for the listing of the house fast and has the sole authority to do so during the probate process. If no will is written or the named person refuses or is otherwise unable, then the state will appoint an Administrator for the role instead. Either way, the sale of a probate house cannot proceed without this person in place. Because of this, some situations just getting to the sales process can take weeks or even months for an offer and you won’t sell the house fast with our without a broker.
Eventually, someone is named to handle the process, and for most cases, the sale is turned over to a real estate professional to be marketed. This process tends to be no different from marketing any other house, with the realtor in question listing it online, fielding questions from potential buyers, and collecting offer in the process. For any pending sale to be official in the eyes of the state, all parties involved must agree to attend a probate court hearing to confirm the sale. Many cases, multiple interested parties will attend these hearings and will bid against each other (typically in increments of $5000) as the field is for validation and validation purposes.
As mentioned above, when there is a probate house for sale, many complicated procedures and laws must be followed for an offer and title for authority. For this reason, we highly recommend having a real estate professional assist you in the process. A qualified probate realtor can help you sell an inherited home with as minimal complication as possible. Their job is the market the house aggressively, helping you achieve the highest rate of return on the home for a house left unchanged. They schedule appoints, show the property, and organize the information in a clear and simple way. Once an interested party is found for the probate sale, the probate realtor will help you negotiate terms that work for both you and the buyer.
With all of this said, you are technically allowed to carry out this entire process without a real estate professional. Based upon the sheer complication involved, however, we’d highly advise against doing so, as it can drag the homes process out for much longer than necessary and can even result getting a drastically reduced payout at the end of the ordeal. Relying on a team of professionals ensures that your homes interests are looked after and that the sale of the property goes as smoothly as can be.
This is one of the most common questions that we receive early in the process of selling a home in probate. So, can you sell to a friend or family member, if you wish to? The answer to this question is not as straightforward as you may at first expect. In general, there are no rules in place that would prevent you from selling the home to a family member, or even a friend, so long as all the proper procedures are followed to the letter. This includes the court hearing and allowing for the possibility of opposing bidders.
The only real issue that you’ll face involves a situation wherein the executor of the property is the one interested in purchasing it at probate. This can easily create a conflict of interest in the eyes of the court, and as such, if there is interest by this party, it is usually required that they not serve as executor for the process. If this is not feasible for any reason, the situation will need to be closely monitored by all parties (including the court) to ensure that everything is above-board.
If you do not wish to sell an inherited home, you have a few options that you can consider. If there are any beneficiaries listed in a will or testament, they can decide to have the property transferred to their name instead. In many cases, the home may not be required to be sold in probate court at all, though this can vary highly depending upon which state the property is in, as well as the specific situation with which you are dealing.
That said, in many cases, you will be required to sell the home probate, eventually. Again, this process can be spread out over a period of many months, but at some point, the state will push things along to force a sale on the property. It is usually within your best interest as executor to be proactive in making the sale happen, if for no other reason than it will allow for things to return to normal for you as soon as possible.
If you’re looking to sell a house in probate, don’t leave anything up to chance. Give the experts at NorCal Cash a call today. We specialize in all forms of probate home sales, and our team of dedicated professionals will help inform you of any options at your disposal.
We look forward to serving you!