Probate is the process of legal reassignment of a deceased person’s property to their beneficiaries. This occurs after the person passes away and usually involves their last will or testament. In some cases, however, the deceased may not have left a will. Regardless, the court must oversee the property distribution to ensure it gets carried out smoothly and according to the law. This thorough process is known as probate.
As real estate investors in Charlotte, NC, we at Cash Today Home Buyers often get the question if it’s possible to sell a house while it’s in probate. The answer is that selling is possible if the right process gets followed. We advise sellers to go through the following steps and suggest other investors check the procedures when considering buying property during probate in Charlotte.
Selling a home in probate can be a bit more complicated than a regular sale, but it’s possible with the proper preparation. Follow these steps, and you’ll be on your way to a successful sale.
Sell a Probate Property in Charlotte Please Follow these Simple Steps:
Get your Property Appraised by a Certified Appraiser
You will need to find an independent certified appraiser to start. You can look up phone listings or ask for recommendations from probate property real estate professionals in Charlotte.
Seek the Petition
Next, you’ll want to file a petition with the court to sell the probate property in Charlotte. Ensure that your petition includes all pertinent information about the property, such as the method used to complete the sale (auction or open real estate market). Once you’ve obtained the court’s approval, you can proceed with the sale.
We understand that you may finally be able to take action and sell your probate property in Charlotte. Still, it would help if you remembered to disclose to potential buyers that the court must confirm the transaction before you can accept any offers. This makes the offer conditional, so please keep that in mind when selling your property.
If you want a judge to approve the sale of your house, you have to ask the court to schedule a hearing. It takes the court between 20 and 40 days to schedule the hearing.
When selling a probate property in Charlotte, the goal is to get the highest possible price for the property. To do this, you need to advertise the court hearing to the general public and allow anyone interested to participate in the bidding process. This will help to raise the final purchase price of the property.
Knowing the Court Orders
You must attend the court hearing and wait for the unconditional bidding to finish. A cashier’s check gets presented for the final figure at the end. Your buyer will be able to participate along with any other public member.
Repaying the Deposit
If there is a new buyer, we refund the previous buyer’s money and take the buyer’s deposit after the court’s confirmation. We always pay a deposit to the court after the contract gets confirmed.
The Final Deal
You’ve finally managed to close on the contract for your probate property. Great work! However, before you celebrate, please double-check that the financing you arranged covers all the property’s costs. Additionally, you will need to ensure that the full purchase price gets placed into the estate fund. Once you’ve confirmed those two details, you can pop the champagne!
Are you Looking for an Investor to Purchase Your Probate Property?
Cash Today Home Buyers understand how difficult it can be to sell a probate property. That’s why we’re here to help! We will make the process as easy as possible for you. Call or fill out the form below, and we’ll start helping you sell your probate property in Charlotte.