Selling San Fernando Valley Real Estate That’s in Probate
The legal process of dispersing a deceased person’s assets in accordance with their Will after passing away is called probate. In case there is no valid will, the beneficiaries of an asset are often selected by the probate court.
Is it possible to sell real estate in probate in San Fernando Valley?
The answer is YES! However, selling a house in probate is different compared to the usual real estate sale. When selling real estate in San Fernando Valley that is in probate, remember that there are several steps you must follow and accomplish to successfully sell the property.
Here is a comprehensive guide for selling a house in probate in Southern California:
1. Appraise the property
Appraising the property means you have to come up with an estimate of the market value of the estate asset. Property appraisal can be done with the help of a qualified appraisal or a probate real estate agent.
2. Accomplish a petition
Accomplishing a probate petition form is crucial for the whole probate sale process. During this step, you must provide all the necessary documents linked to the sale of the property. Filing a petition is also the part where the court will analyze if the Will is valid and the notification of all beneficiaries listed in the Will.
3. Market the property
Say you have completed the first few steps of the process. Now, before you can market your property, you first have to obtain the court’s confirmation to authorize the sale of the estate you wish to sell in probate. Without the court’s approval to put your property on sale, you cannot push through its marketing and selling the real estate in probate.
4. Attend a court hearing
Now that you have potential buyers eyeing the estate, a court hearing will occur where bidding, negotiations, and contract signing happens.
5. Contract Confirmation
After the bid is confirmed, the court receives the cashier’s check. After the contract is confirmed, expect a deposit.
Can I skip a step?
No, you can only sell a property in probate if you successfully completed the steps in order. Remember that the process involves the supervision of the San Fernando probate court. You will be able to avoid delays if you stick to the rules.
For more detailed information about probate sales in San Fernando Valley or Southern California, please contact us at your most convenient time.
South California Map
South California Probate Courts Map
Click on any court for a more info