What Is a Probate Sale?
Simply put, when a person dies his/her state needs to be settled, meaning his assets need to be distributed to heirs/devisees, creditors need to be informed and outstanding debts need to be paid off, and a final income tax needs to be filed. Yes, even after we have departed taxes are due!
If the deceased had real estate property which was not vested in a living trust, that property will eventually need to go through a court proceeding called PROBATE even if there’s a will. During this process, the heirs can claim their share of the estate. If the
property needs to be sold, the realtor handling the sale must be knowledgeable about this kind of legal proceedings.
What is a TRUST Sale?
If a property is held in a trust (usually due to the owner passing away) and the trustee (person in charge of carrying out the instructions given in the trust) needs to sell the property he/she needs to act as the seller of the property.
If you are the executor or administrator of an estate or a probate sale, I am here to help you. I have the knowledge and experience of the process and complexities associated with probate and trust sales.
These are some of the things I can assist you with:
Determine the value of the home
Assist executors or administrators in determining if deferred maintenance issues need to be addressed and analyze if cost effective to cure
Will order preliminary title report, copies of deeds, and review chain of title to identify any potential problem areas
I will work closely with your attorney and paralegal staff if you are working with one
Provide referrals for qualified service providers (handyman, painters, clean up and haul away services)