Finding the best realtor to sell your probate house
Doing research into probate real estate could mean you probably have a property that you need to sell either by inheritance or someone has passed away. The heirs and executor of the estate want to know the best way to sell a property in the estate. The complicated probate process needs a professional to have a successful real estate sales.
Selling a home that is in probate is a little bit trickier than a typical or standard real estate transaction. It’s important to get a certified probate real estate agent to handle all the details between the lender, the banks, and any liens, mortgages, reverse mortgage, the probate court, and lawyers if any.
Selling real property through probate process and trust requires a balance of the right people, the right knowledge, the right experiences and the transaction paperwork. The agent you want to work with should be able to handle the offer and all the paperwork effortlessly for the entire probate process works with probate attorney, real estate transaction, from beginning to end.
How to find and interview a California probate real estate agent?
If you’re looking for a probate realtor agent with extensive knowledge here are some great questions to ask when interviewing. Asking these questions in advance will save you time, money, and frustration. The executors or trustees should take direct action to find the best realtor to handle the estate’s property.
How well do you know probate law?
As a real estate agent that is a Certified Probate Real Estate Specialist (CPRES) I know the probate-specific procedures, timelines and deadlines. A regular realtor could make many costly errors that will create costly mistakes and that could delay proceedings. Here are more details about will, trust and probate
What is a certified probate real estate professional?
A probate certified realtor understands the complicated probate process, and best practices necessary to manage the transaction to close of the probate property sale. They can answer questions and work closely with the probate attorneys, probate court, executors, probate code, legal deadlines and probate properties to the transfer of the house.
Identify a Certified Probate Real Estate Specialists (CPRES)
Real agent certified probate specialists (CPRES) have completed training through the California Association of Realtors (CAR). To obtain this certification, the agent is required to complete a competency-based examination measuring their abilities to perform probate-related transactions in a timely manner. Using a professional legal firm with this certification will ensure you get to know the probate process.
What a certified probate real estate specialist do?
A probate proceeding serves many purposes such as gathering and safeguarding the decedent’s assets, paying all legitimate creditors of the decedent, and distributing the Estate’s assets to the appropriate heirs. A certified probate real estate professional works with the family to make the process easier.
In the course, CPRES the certified real estate agent learns advice on how the probate system works. The CPRES agent also monitors and the timeline of legal documents with the probate attorney. In addition we work with complicated paperwork necessary for property ownership transfer in probate. Your certified probate real estate professional is also capable of providing assistance with your probated case, including inspectors, appraisers, contractors and many others professionals.
How do you market the probate property?
A standard property sale just needs good marketing to equal a successful sale. In addition to that, probate house sales have a timeline that must be adhered to—especially if the sale requires court confirmation.
Probate and even trust sale real estate require diligent attention to the law and a unique marketing strategy because many properties may not be ideally set up for the typical buyer. I wrote a more detailed answer – What is the difference from selling a home and selling a probate house?
How is Probate different from Traditional Sales?
The probate home sale has all the issues of the traditional real estate sale plus all the legal issues of a probate. But the big difference in a California probate is if the estate has limited or full authority from the court. I wrote a much more detailed explain selling a probate home in Sacramento here.
Can You Handle “PRO PER” Clients?
The term “pro per” is an abbreviation of the Latin phrase “in propria persona,” meaning “in their own person,” and it refers to a situation where a litigant represents themselves, without a lawyer. In other words “pro per” is a DIY (Do It Yourself) probate estate. Yes I work with “pro per” or DIY clients.
Communication is a key feature of a probate real estate agent.
Selling a probate property or inherited house comes with many issues to resolve. There are many documents that need to be produced to transfer ownership of the property. I can’t tell you how many times I hear “Why do they need that?” Getting the right answer and explaining the why issues are a good deal of the communication. I demand for my clients that escrow and the courts only get the documents they need, not all they want.
Often, the seller is not located near the property or even in the same state. Communication with the seller should be clear, often, wide ranging and make the seller fell comfortable. For clients outside the state and local area often times I need to help with dealing with repair items if not sold in “as-is” condition. I am ready to be more hands on with the property during the transition process.
A probate realtor agent will help fix issues with the home, including getting inspections, bids, repairs, upgrades, escrow issues and consultations. A probate real estate professional will invest their time and money to make sure your home sells quickly for the most money the market can bear.
When can you sell a property in a living trust?
The living trust has trustee and benefactor/s. Read more at how they work together is important to selling property in a living trust. Probate and trust property require special disclosure and listing agreement diligence with respect to probate law and a unique marketing strategy. Trust properties avoid probate we work closely with attorneys, trustees, fiduciaries and other representatives of the seller to get the best sale price for the property.
How to Sell a House in Probate in Sacramento, California
Read more here- How to sell a probate property in Sacramento, California is a 4 step process. The personal representative is the key to a probate real estate sale. Real estate agents need to work them to have a good probate property sale.
Wills, Trust and Probate transferring real property upon death the basics
The most common means of transferring real property upon death of the owner are three well-known methods:
- Holding property in joint tenancy or as community property with right of survivorship
- A living trust
- A will
Read more here – Wills, Trust and Probate
When in the Probate Timeline Can the Estate Sell Property?
The probate timeline in California is not the easiest sequence of events. To understand it better check out Probate Timeline
Inherited property case study
Inherited homes don’t always come to the beneficiaries ready to sell. This Placer County house was full of stuff, many deferred maintenance issues, trash, landscaping problems and a reverse mortgage. It was a hoarder house with additional financial problems. The heirs needed help and fast.
The house had added on living spaces with the garage made into a living area also. Californians like our garages. All these changes made the house much less appealing to a home buyer. So I changed the story from no garage to an added value home for the right family unit.
Here is one of the ways we marketed the property to multi-generational families.
“Charming small town home with separate entrance for bedroom, private bath and personal living area also called in-law or guest suite. The Multi-Generational House with “accessory dwelling unit” (ADU) has a low maintenance design and additional storage area.”
With proper marketing we found the “just right” buyer. The timing worked out for the reverse mortgage to be paid off in time. The heirs wrote this nice message to me when escrow closed:
“Hi Dan the Man!! I want to thank you for all your hard work and selling the house for us! Nothing would’ve gotten done without you. You did it and so wonderfully, the drone photos and video was epic! You’re the best and we appreciate you and thank you so so much Dan! Take good care and God bless you and your family always!”
Inherited property owners
Inherited property with a reverse mortgage
The key point when you inherit a property with a reverse mortgage taken out against the property, you must pay back the reverse mortgage to the lender.
If the borrower dies, then their heirs inherit the home with the reverse mortgage loan. The loan must be paid off in its entirety.
Here is more info on how to deal with a reverse mortgage on inherited property.
Just a final thought
Finding the right probate real estate agent does take a little bit of effort and research. Still, once you are comfortable with how they do business, how they communicate, and how they market the property, you can be assured that your needs, desires, and end goals will be met on time. Learn more about What to do with inherited property?
We’re here to assist you during this difficult time and make the process easy. Call or text Coffee Real Estate today at (916) 481 8106 even if you just have a question. We are good at finding real estate investors with the cash to buy in “as is” condition. Dan Parisi roles as a real estate consultants are professionals who specialize in helping buyers and sellers make informed decisions about their real estate probate transactions. Also we can market your property for top dollar home buyers. We can help validate their ability to pay upfront. Let us know how we can help.
This website is designed for information only and is not intended to offer legal advice.
