Trust & Probate Real Estate FAQs
1) What is a Probate Sale?
A home is sold in probate court when someone dies intestate (with out a will) or without devising their property.
2) Costs to Probate Sale My Home?
Our Realtor fees are the same for Probate Sales as they are for Standard Sales (even though much more work is involved with Probate Sales). ALL our additional services that are incurred due to the Probate process are FREE to you. We have Successfully closed many Probate/Trust Sales for All of our previous Probate Sale and Trust Sale clients. Other selling expenses typically run more than a standard sale due to court fees and length of the process.
3) What's different about a Probate Listing Agreement?
YES. For real estate professionals who understand Probate Sale and Trust Sale Properties, the reverse mortgage is a common occurence.
5) What is the typical Probate Sale Process?
California law mandates that we must disclose a passing on the property if it occured within 3 years of selling property. Most buyers understand that these things happen in homes. We do our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs are. Our Marketing to the general public Will Not indicate anywhere that your home is a Probate Sale. However, the one place we are obligated to designate your home as a Probate Sale is our MLS.
7) Probate Sales are Impossible to do and take forever, is that true?
Are they impossible? Absolutely Not. We have a 100% Success rate in receiving Probate Sale Approvals from the Courts/ Banks / Lenders. Do Probate Sales take longer than Standard Sales? Probably. But depending on the situation and what type of Authority the executors/administrators have, we expect anywhere from 90-120 days Maximum.
8) Are Buyers really interested in Probate Sale and Trust Sale Properties?
Don't Worry! In fact, we are getting calls from buyers who say they like looking at Probate sale properties. We expect multiple offers on your home within 10 days.
For buyers, Probate Sale Properties have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.
9) Probate Sale My Home or keep it for Rental Income?
It Depends. Most Administrators were not happy with the small amount of money coming in monthly payments and really not interested in becoming landlords. But for some Administrators the monthly payments were enough to satisfy them, they were able to afford future maintenance & repair costs, and they felt that the home will appreciate.
However, The great majority of homeowners are now opting to Probate Sale their home for the following reasons:
10) I've Decided I Need to Probate Sale My Home. Now What?
Contact us for a FREE Consultation. Either Call us at (818) 235-7771, or click on Contact, at the top of this page. The Consultation is Free. We do all the negotiations for you, and you can rest assured that you have agents that are CPS, Certified Probate Specialist, working for you.
A home is sold in probate court when someone dies intestate (with out a will) or without devising their property.
2) Costs to Probate Sale My Home?
Our Realtor fees are the same for Probate Sales as they are for Standard Sales (even though much more work is involved with Probate Sales). ALL our additional services that are incurred due to the Probate process are FREE to you. We have Successfully closed many Probate/Trust Sales for All of our previous Probate Sale and Trust Sale clients. Other selling expenses typically run more than a standard sale due to court fees and length of the process.
3) What's different about a Probate Listing Agreement?
- Exemptions – There are several California disclosure exemptions; Most Notably sellers are exempt from providing Natural Hazard Reports, Transfer Disclosure Statements, and Mello Roos Disclosures. Earthquake guides are also exempt. Smoke Detectors requirements for Single Family Residences are also exempt.
- Court Case Disclosure – The Case#, who the Court Appointed Representative is, and whether it is an Estate, Conservatorship, or Guardianship.
- Whether or not Court Confirmation is Needed – This informs us to the authority of the Probate court appointed representative. With Court Confirmation Needed the appointee has "limited authority" to sell the property and needs final approval through the court process. Without Court Confirmation needed, the Appointee has full authority to execute the sale of the property.
YES. For real estate professionals who understand Probate Sale and Trust Sale Properties, the reverse mortgage is a common occurence.
5) What is the typical Probate Sale Process?
- Seller signs a listing agreement with a Probate real estate agent.
- A Buyer submits an offer to your Probate Real Estate Agent.
- Seller accepts the buyer's purchase offer.
- Court accepts the buyer's purchase offer.
- Transaction closes, the lender releases the lien.
California law mandates that we must disclose a passing on the property if it occured within 3 years of selling property. Most buyers understand that these things happen in homes. We do our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs are. Our Marketing to the general public Will Not indicate anywhere that your home is a Probate Sale. However, the one place we are obligated to designate your home as a Probate Sale is our MLS.
7) Probate Sales are Impossible to do and take forever, is that true?
Are they impossible? Absolutely Not. We have a 100% Success rate in receiving Probate Sale Approvals from the Courts/ Banks / Lenders. Do Probate Sales take longer than Standard Sales? Probably. But depending on the situation and what type of Authority the executors/administrators have, we expect anywhere from 90-120 days Maximum.
8) Are Buyers really interested in Probate Sale and Trust Sale Properties?
Don't Worry! In fact, we are getting calls from buyers who say they like looking at Probate sale properties. We expect multiple offers on your home within 10 days.
For buyers, Probate Sale Properties have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.
9) Probate Sale My Home or keep it for Rental Income?
It Depends. Most Administrators were not happy with the small amount of money coming in monthly payments and really not interested in becoming landlords. But for some Administrators the monthly payments were enough to satisfy them, they were able to afford future maintenance & repair costs, and they felt that the home will appreciate.
However, The great majority of homeowners are now opting to Probate Sale their home for the following reasons:
- They are not with happy with the depreciation and drop in value of their home
- The potential repair and maintenance costs may put them right back into Default;
- Their income and expenses will still be a struggle;
- They Just want to move forward and sell all assets; or
- They wish to put their money towards another investment.
10) I've Decided I Need to Probate Sale My Home. Now What?
Contact us for a FREE Consultation. Either Call us at (818) 235-7771, or click on Contact, at the top of this page. The Consultation is Free. We do all the negotiations for you, and you can rest assured that you have agents that are CPS, Certified Probate Specialist, working for you.