Selling a House in Probate Englewood
Selling a house in probate in Englewood isn’t such an easy job. The most stressful part of the probate process is the stage before the probate is granted.
Selling a house in probate in Englewood means that the house in question has gone through a court of law in order to be approved for sale. The court has a series of steps that must be followed in order to complete the sale. Note that in a court of law, deadlines are unforgiving and the documents are specialized as well. All throughout the selling process, the oversight of the court must be honored.
The people involved in selling a house in probate in Englewood are an administrator or executor of the state, your attorney, your real estate agent, an person interested in buying your house, and possibly their real estate agent. All of these persons must follow the orders of the court.
Since the court is involved, you will more than likely come across a lot of jargon as well as a bunch of disclosure documents and contracts that are usually missing when dealing with normal real estate transactions. If you are selling a house in probate, do make sure that your real estate agent has enough experience dealing with such transactions. Also, make sure you are dealing with someone who can communicate the whole jargon in a language you can understand.
To help you understand the probate process and what is involved when selling a house in probate in Englewood, here is a closer look at what is a probate sale. Basically, this means that you are dealing with a house whose original owner died without leaving behind a will with clear instructions of who is to be the heir. In most cases, an estate attorney would take over, if not a chosen representative.
Assuming you have been handed the task of selling a house in probate, you will have to learn a few things about this process. It is only after the probate has been granted that you can actually sell the house, however, you can start marketing the house prior to this. Also, it’s only after the sale and all other debts of the deceased are cleared that the remaining proceeds can be shared between the heirs.
Probate sales can attract a certain type of market. In most cases, they are usually priced at below the market value, something we’ve also seen with cases of foreclosures and divorces. In normal circumstances, a house with a price tag that is under the market value sells quite fast, however, since selling a house in probate is guided and monitored by the court, the process is a little bit complicated and longer than usual.
How the process works
Selling a house in probate, as pointed out, can be quite complicated and lengthy. In a probate sale, the estate attorney, executor or administrator hires a real estate agent to start marketing the sale of the house in question. Buyers might be easily attracted by the low asking price, but probate sales are not for everyone.
Usually, a house in probate might be in a condition that cannot be described as livable. As such, they are always sold as-is. Since the money is usually needed as soon as possible, buyers of houses in probate are in most cases real estate investment companies. A decision to sell a house in probate means that the seller doesn’t have an interest in renovating the house, regardless of the reason. So, if you are an individual buyer, don’t expect any repairs to be made to the house before you move in, rather, what your eyes see is what you get. To be safer, make sure you get a home inspector to confirm if the house is okay or not.
As long as you have the okay, selling a house in probate in Englewood doesn’t have to be another nightmare. At Denver Property Flip, we will make you an all-cash offer within 24 hours and the cash will be ready after just 5 days. Call us now on (720) 370-9595.