Court Confirmed Probate Real Estate Sales
If you find yourself having to sell a home or investment property due to losing a family member or friend, you’re likely stressed and overwhelmed with everything that comes along with the sale. In addition to dealing with complicated feelings of grief from losing a relative or close friend, this situation may bring up a whole wide range of complex emotions. At Realicore Real Estate Group, we understand and we are here for you. With our knowledge and expertise, we can guide you through this challenging time so that your probate sales process may go as smoothly as possible.
Another way a court ordered sale may happen is if you’ve recently inherited a property from a deceased family member or friend. The sale may be forced due to the family member themselves putting a directive in their will ordering that the property be sold after their death. However, a notice in the will is not required and will not always be indicated. Instead, a representative to the estate may be forced to sell the property in order to pay off debts, taxes or expenses needed in order to manage the estate.
Once it’s determined that a property must be sold, there are five ways to complete the probate sale. The home may be sold by a real estate agent, which is the most common way. A private sale is another option. The attorneys that are handling the private sale will seal bids, and accept the highest offer. A public auction could also be held wherein people place verbal bids, with the highest offer being accepted at a predetermined date and time. Conversely, a private auction, hosted by a private company may complete the sale. In this circumstance, the private company will accept verbal bids during the auction, with the highest bidder winning. Lastly, a trust department may handle the sale by acting as the estate representative. They will then accept whichever offer would benefit the estate more.
No matter how you find yourself in one of these complicated circumstances, know that Realicore Real Estate Group can answer all of your questions along the way. Sign up for our newsletter and keep watching your inbox for the release of future real estate articles. Contact us today if you are in need of our real estate services.
