Have you ever sold a property where the seller was an Estate? Probate sales can be known for being complicated estate sales, as a probate home sale varies from the classic real estate transaction. It is beneficial for realtors to become more familiar with the differences between the two and consider how it can affect a home sale.

A probate sale means that the original homeowner is deceased and passed without completing a will or, if they have a will, the will fails to properly bequeath their property. In cases like this, the probate court will appoint a personal representative to administer the home sale. The personal representative is then mandated to sell the home, liquidating that asset, and then to distribute the proceeds of the sale amongst the beneficiaries.

Whether you are a realtor with knowledge in probate sales or interested in learning more, working together with experienced real estate and probate attorneys at the Kadoch Law Group will help you navigate through the difficult process of probate estate sales. By offering you guidance along the way, Kadoch Law Group will work efficiently with you, ensuring you know what to expect regarding the legal process of probate home sales.

There are various legal hoops to jump through when there is a probate home sale. To help the process move more smoothly, it is important for realtors to know what these might be. One of the first factors to consider when selling a probate home is the view of the buyer.

While many buyers might be interested in a low-budget home sale, most of the time, probate home sales are sold as is, which makes the home not as attractive to everyone. Most times the personal representative has not resided in the home and has no idea of its value and/or its condition. The buyer must rely upon its inspection report to determine if the home needs repairs and the cost of those repairs.

Buyers, who are interested in purchasing a home at a low cost, a much lower cost than usual, may find probate sales appealing. This type of home sale is more tempting to buyers because similarly to foreclosures, the listed price may be lower than the market value. However, the selling process can become lengthier than a usual home buying transaction, as the court must receive a Petition for Authorization for Sale of Decedent’s Real Property and issue an order approving of the home’s final sale. In addition, there are also some differences regarding offers, because when it comes to a probate sale, in addition to the personal representative signing the contract, it may be also necessary for each beneficiary to sign the acceptance (and ultimately the Deed).

If you are interested in learning more about the benefits that come along with probate sales, becoming a probate sales specialist or working with attorneys to learn more about the probate laws in Florida, why settle for less when you can get an experienced attorney on your team?

Give Kadoch Law a call and we will provide the best possible service to you as we do with every realtor partner and client!