Probate sale is basically a homeowner who has passed away but with no trust. (they may have a will but no trust). The state planning attorney is going to decide who is going to be the beneficiary or the personal representative (like either the executor or administrator). The personal representative is responsible for liquidating all the assets and personal property and making sure these proceeds go to the beneficiary.
Probate sales can be very attractive to the buyer but take much longer than they may imagine since the court has to supervise the sales b/c a personal representative may not have full authority but limited authority to sell, which can take almost 1 year to sell the process.
Attorney and personal representative need to hire a Realtor® to sell a property to do all the marketing, prepare the documents for the potential buyer, and be somewhat cosmetically updated to get the best price.
I prepare somewhat cost-effective upgrades for the benefit of the sale but the personal representative may not want any update sold as is a condition we can lay out the pros and cons of all the facts (as is condition vs. cost-effective upgrades based on the current market situation at that time) then go from there.
I work with you and your attorney to sell your home the best and quickest way with less hassles on the trust and probate sale.
Contact me today to schedule how the probate process works in California
Note: This video doesn’t contain any legal advice and I am not a lawyer or an accountant to provide any legal/tax advice. This is my own understanding and knowledge that I know of based on my own experiences as a realtor. You should not use this information to give anyone legal advice but the information's purpose.
Jessie Lee Team has over 20 years of combined experience in the bay area helping clients for selling, buying, renting. We know about the SF market trends so we can provide accurate information to the buyers/sellers/landlords. Quick to respond, accurate information, getting into the contract within 1-3 months and selling it what the seller wants to achieve at. If you are buying or selling, please contact [email protected] to set up a zoom meeting or call/text at (415) 518-6402.Stay in Touch