Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away they leave their loved ones and their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it is not.
Whatever is the situation, the property is reassigned to the heirs with the court of law, and this extensive thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Atlanta, Tallahassee GA, FL?“, and the answer is that it can be sold if simple steps are followed.
As a real estate investor in Atlanta, Tallahassee GA, FL, Rorry Buys Houses LLC advises sellers to go through the following steps and also suggests that the executor or petitioner of the estate immediately inform the property insurance company, especially if the Atlanta, Tallahassee property is vacant. It is imperative to make sure the policy stays in force to protect the asset
Can a house be sold while in probate in Atlanta, Tallahassee, GA, FL? Yes, but make sure to follow these steps first!
A (PR) Personal Representative or Executor is appointed by the court
The first step in probate is the determination by the court of who will handle “the business” of the estate. This is done by receiving “Letters Testamentary” or “Letters of Administration”
With the help of an independent certified appraiser, a Atlanta, Tallahassee GA, FL property in probate can be appraised.
As a real estate investor, I look to buy property on probate in Atlanta, Tallahassee GA, FL that has already sought property appraisal to establish a date of death value. A comparative market analysis can assist in this determination as well.
Obtain the Petition
When you are in the process of selling the property during the probate period you have to seek probation from the court. So fill out the petition form and provide all the details related to the sale of the property in Atlanta, Tallahassee along with mentioning the methods of sale.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
An investor only buys the property that has already completed the procedure of obtaining the petition, and we do look into the fact that the seller has gone through the process of obtaining the petition.
Place your Property for Sale
Next step is placing your property on sale. Be sure to inform the buyer about the matter that the property will be sold only after confirmation from the court as it is on probate. All real investors only buy the property that is on sale after seeking court petition. If your property matches these conditions then we might be able to take it off your hands.
Seek the Court for Confirmation
As a buyer, you have to seek the court for confirmation to confirm the sale of your property in Atlanta, Tallahassee. Generally, hearings take place within a period of . Please do not forget to make arrangement and take 10 percent of the price from the buyer before the date of hearing from the court. As investors ourselves we tend to ensure the fact that the seller seeks the court for the confirmation soon.
Agreement with Beneficiaries
It is important that all the beneficiaries are in agreement with the price and terms relating to the sale of the property. As long as no one is contesting, it is easier to finalize the sale, as only the executor will be required to sign all legal documents pertaining to the sale of the property..
After this, you can complete the contract with the buyer in accordance with the courts approval of sale. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Atlanta, Tallahassee, then we can help.