At times, a deceased loved one may leave instructions about selling their home. This property will have to be sold through the legal process known as probate. This involves the transfer of property from an estate to the owner’s beneficiaries. Should the property be sold, the probate court will then split the proceeds from the sale between all the beneficiaries.
With over 65 percent of Americans being homeowners according to the National Multi Housing Council, and with 78 percent of adults aged 45 and older owning a house, there’s a reasonable chance that their property will end up in probate. Selling a real estate property and listing it among homes for sale in Menifee, CA requires you to follow strict sales procedures as laid out by real estate law in California.
Check the Will
Before doing anything else, check the contents of the deceased person’s will. You wouldn’t have the power to sell the property as a part of the probate process if the will doesn’t explicitly name you the executor. Should you be named the executor, you must next ascertain whether or not the property needs to be sold with the intervention of a probate court.
Appraise the Property
With an independent certified appraiser, have the property you wish to sell appraised. There are numerous certified appraisers around; you can also seek help from real estate agents for a recommendation.
Obtain a Petition
Once you’ve appraised the property, it’s time to take the first steps into selling the home. First, obtain a petition from the court allowing you to sell real estate. This involves filling out the petition with relevant information regarding the property sales, including sales methods (whether by an open market sale or by auction). Along with the petition, you must also submit the independent appraisal to court and wait for approval.
Sell the Property
After the court grants you permission to list the property under houses for sale in Menifee, CA, you’ll need the help of real estate agents to get you a buyer quickly. Fortunately, professionals such as those working with Team Robinson are more than willing to market the property, look for prospective buyers, and help you close with the best possible deal.
Confirm the Sale
As the sale nears its completion, you must again petition the court for another hearing, this time confirming the sale. Normally, the sale will be advertised to inform the public of an open bidding at court. Should there be no overbidding, the contract will be closed, and the sale will be done.
Sources
How Do I Sell Real Estate During Probate?, SF Gate
How to Sell Real Estate During Probate, Global Post