🏠What Does It Mean When a House Is Going through Probate?

Selling a house in probate is a little more complicated than a regular sale.

It involves a series of court-regulated steps that must be carefully followed and managed. When selling a property in probate, you have to be mindful of the deadlines, be familiar with the specialized documentation, and make sure the court’s oversight is honored in all aspects of the sale.

Before clarifying what happens to a home in probate, let start with a definition of probate.

What is probate?

A Charlotte NC Probate is the process through which a deceased person’s property, known as their “estate,” is passed to the heirs and beneficiaries named in their will. The entire process is supervised by the probate court and usually takes about a year, depending on the size and complexity of the estate.

The responsibility of overseeing the probate process falls to whomever was appointed as executor or personal representative. This person will assume responsibility for the legal affairs and obtaining probate or letters of administration, which will enable them to act as the personal representative. In the event that the home is to be sold, the grant of probate will give the executor or the personal representative the authority to do this in compliance with the will’s terms.

What happens to a house in probate?

Usually, a home is sold in probate court when an individual dies without bequeathing their property. In such cases, the state takes over and oversees the property’s sale. The court wants to ensure that the property is marketed and sold at the best price possible. 

Selling a house in probate entails going through a series of steps that are regulated by the courts. Close attention should be given to the entire real estate probate sale process because there are many details involved. The sale involves the executor, the personnel of the court, the attorney representing the estate, one or more buyers who place bids with the court and the buyers’ real estate agents. Everyone must follow the guidelines and deadlines of the court.

You start by having the home appraised in order to establish its current market value. Next, you have to get and fill out a petition from the probate court to be able to sell the property. This is filed along with the appraisal in order to get approval to sell.

Once probate is granted, the responsibility of selling the property falls on your chosen real estate probate agent. That’s why it’s important to work with a professional who is experienced in probate sales and is familiar with the language, the documentation, and the steps in the process. You want someone who’s been there and done that.

Selling a probate property can be a challenging task, so having someone there to coach you through the process is extremely necessary.

Learn more about the probate process by visiting http://EstateHomeSale.com/.

Looking for a team of professional, experienced and competent real estate agents who specialize in probate sales of real property? Call us anytime at 704-997-3794. Let our team at Showcase Realty provide you with help during the entire probate process.

In case you can not view this video here, please click the link below to view What Does It Mean When a House Is Going through Probate? on my YouTube channel: https://www.youtube.com/watch?v=vli14NSTKyE&feature=youtu.be