Sell Your House In Probate For Cash In California
Probate is the legal process that involves the transfer of property from an estate to the property holder's beneficiaries. As an executor of an estate you may have to sell off real estate held by the estate not directly willed to a specific beneficiary.
The probate court handling the estate will then split the proceeds from the sale among the beneficiaries. Making a valid sale of the property requires that you follow strict sales procedures laid out in the real estate law covering your location.
While these particular procedures are for California probate sales, the general process of selling real estate during probate is a consistent one across jurisdictions.
1. Appraise the property that you wish to sell during probate using an independent certified appraiser. You can find an appraiser in the local phone book or by asking an area real estate agent or real estate attorney for a recommendation.
2. Obtain a petition to sell real estate from the court. Fill out the petition, making sure to include all information pertaining to the property sale, including sale methods whether by auction or by an open market sale. File the petition along with the independent appraisal with the court and await approval from the probate court allowing the sale.
3. Place the property up for sale and accept an offer from a buyer. Make sure you inform the buyer that the acceptance is conditional on court confirmation.
4. Petition the court for a hearing confirming the sale. The wait before a hearing varies according to the current load on the court calendar. Most hearings take place within 20 to 40 days.
5. Arrange for a 10 percent deposit on the purchase price from the buyer before the scheduled date of the court hearing.
This is our process to help YOU obtain your GOAL
Tell Us About Your House
Contact us and tell us about the property. With that info we will promptly review it and get you an offer within 24 hours.
We give you a fair offer
In 24 hours or less you will have our offer with no obligation on your part. You have the option to accept or decline.
You control the entire transaction, you decide when its time to finalize the sale. Just relax and receive your check, we do all the work.
6. Advertise the sale along with the offered price from the buyer with a local newspaper. The advertisement informs the public of the sale in order to allow for open bidding at the court hearing among other interested parties. The purpose of the sale is to gain the best price for the estate, and the open bidding process aids toward this end.
7. Attend the court hearing. Wait for the bidding process to proceed. Bids proceed in $500 increments above the intended original buyer's offer, with the buyer allowed to bid as well. All bids are unconditional, and the winner must present a cashier's check to the court for a deposit after confirming the bid.
8. Refund the deposit to the original buyer if there is a confirmation of a new buyer's overbid. Apply the deposit to the purchase price of the property if there is no overbidding and if the court confirms the original buyer's price.
9. Attend the court hearing. Wait for the bidding process to proceed. Bids proceed in $500 increments above the intended original buyer's offer, with the buyer allowed to bid as well. All bids are unconditional, and the winner must present a cashier's check to the court for a deposit after confirming the bid.
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Cities Where We Buy Real Estate:
- California City
- Frazier Park
- Lake Isabella
- Lost Hills
- Mc Farland
- Pine Mountain Club
Other Counties Where We Buy Real Estate:
- Orange County
- Los Angeles County
- Riverside County
- San Bernandino County
- San Diego County
- San Luis Obispo County