All property, debts, and claims of the estate are inventoried and appraised. All valid claims of the estate are collected, and the remainder is distributed to beneficiaries according to the will. Unless your dearly departed loved one made arrangements to avoid probate such as a living trust prior to passing away, most of the estate assets will need to go through the probate process. This includes the family home and all other real estate owned by the decedent. It may also be sold so that the proceeds can be used to equally distribute the cash value of the estate amongst multiple beneficiaries. Due to these regulations, probate property sales can be both subtly and significantly different from a traditional home sale. Just how different depends on whether the probate court granted you rights of independent administration or dependent administration. If you as the executor has been granted independent administration rights, the probate property sale proceeds much in the same way as a traditional property sale. You have the freedom to set the list price, list the property on your timeline and accept an offer without interference from the probate court.
Do I Need a Certified Probate Specialist?
Traditional Home Sales vs. Probate Sales
Learn how to become a probate real estate agent. Probate properties listings often overlooked by real estate agents. Mainly, because of their unique selling process. Two important things for you to understand about probate real estate sales :.
If I Have a Probate Lawyer Why Do I Need a Probate Real Estate Agent?
Send feedback. The Probate Agent. Real Estate Agents need to specialize in some aspect of their real estate business if they truly want to enjoy true success. Probate is by far one of the best real estate niches out there. The gurus teach you one thing, this podcast teaches you the truthe about being The Probate Agent everyone calls. Available episodes.
While she is not licensed to practice law, Kathleen has extensive knowledge of probate law. She is a licensed California Real Estate Broker that owns and manages a boutique brokerage that specializes in probate real estate. Certified and extensively trained in probate real estate she possesses specialized knowledge of the probate sales process, the probate timeline , and is experienced in probate, conservatorship , and trust sales. Kathleen works collaboratively with probate attorneys who greatly appreciate working with an experienced probate real estate agent. Organized planning and highly efficient systems save time — and time means money. Executors and Attorneys want to work with Kathleen Daniels because she has a thorough understanding of the probate real estate contracts, disclosure requirements, and probate disclosure exemptions. When the probate court appoints an Executor or Administrator as the personal representative of an estate, they become an officer of the court and accept certain duties and responsibilities.