Sell a House During Probate
Selling a house fast in probate is essential when it comes time to pay off debts. Unfortunately, many individuals aren’t sure how to navigate this confusing legal process without the right information. At Chattanooga Property Solutions, we buy probate houses with cash, ensuring you get the most from your real estate.
Probate sales can be lengthy, depending on the value and location of your property. Navigating court objections, filing sale petitions, and scouting for appraisals may prevent you from closing a deal within your expected time range. Read on to learn how you can streamline your sale with help from our Chattanooga Property Solutions team.
Factors To Consider When Selling a House in Probate
Deceased family members may list you as a beneficiary in their wills. In this case, you must comply with the probate court process to list your inherited real estate on the market. Here are several factors to consider that may help you simplify your next sale:
- Formal probate sales: You can sell your home in probate in two ways — formal sales and informal sales. The formal option requires you to list your real estate with a property agent and allow the court to set a minimum bid on the property. This process can take seven months or longer to complete.
- Informal probate sales: Informal sales eliminate the court bidding process and allow you to interact directly with potential homebuyers. This option may enable you to sell your property quickly. However, it is essential to partner with a reputable real estate agent to ensure you receive an honest deal for the accurate market value of your property.
- Partnering with attorneys: It’s wise to hire an attorney for probate. These legal consultants will make sure you have the information you need to file accurate reports with the court and correctly close deals.
- Wait for appraisals and objections: Don’t start advertising your home too soon. Wait at least 15 days for an appraisal specialist to submit their reports. You should also attend all probate hearings and scheduled court dates to avoid objections that may delay your sale.
- Prepare the property: Selling a house fast in probate depends on how quickly you can prepare the property. Consider hiring a real estate marketing specialist and home improvement contractors to complete the necessary arrangements.
Why You Should Sell the Property During Probate
Probate may not be necessary in all jurisdictions. Still, you should comply with these legal proceedings, especially if your deceased family member has no administrator listed in their will. Here are two things to remember:
- Quitclaim deeds: Quitclaim deeds may be a useful way for an owner of a property to transfer real estate to a beneficiary before their death. However, this agreement can change at any time — nullifying a beneficiary’s rights over the property and delaying sales. In such cases, probate may be the best way to guarantee legal ownership over a property.
- Probate records: Court records are public and allow potential homebuyers to feel confident that the real estate they invest in is worth a fair market price.
Learn the Fastest Way To Sell a House in Probate With Chattanooga Property Solutions
Selling a house fast in probate doesn’t need to be confusing. At Chattanooga Property Solutions, we make it easy to sell your property quickly. We also pay cash on the day of your closing.
Do you have a problem property? Our real estate specialists will buy these homes so you can avoid maintaining real estate that you can’t afford.
Call our Chattanooga Property Solutions team in Hixson, TN, at (423) 454-3070 to speak with a buyer.