While dealing with the death of a loved one is difficult, the challenging task of selling a house in probate is made easier as you work with a certified probate agent in Northern California.
In addition to the grieving process, the probate process can be lengthy and, at times physically, emotionally and mentally draining. Knowing these 5 important aspects to probate will certainly help you cope with the probate procedures, especially with the guidance of a probate REALTOR® in Northern California.
1. Petition for Probate
When someone dies without a will, this is called intestate. When someone dies with a will, this is called testate. In both scenarios, a Petition for Probate must be filed with the court.
This must be done within 30 days of the date of death of the property owner and should be filed with the Superior Court in the county where the decedent lived.
2. Inventory of Properties
The estate of the family member who passed away might include both real property and personal property. An inventory of the estate should be recorded as soon as possible. This might include an inventory list and photos, especially if the estate is to be split among several beneficiaries.
For real property, obtaining a valuation from a real estate agent or appraiser as of the time of death is needed. Using an appraiser will cost the estate money. Choosing Rhonda Fee who is a real estate professional will help you in your probate process. She will evaluate the fair market value of the property in probate.
3. Selling the Properties
Letters of Testamentary are needed prior to sale of property. It is not necessary to wait for Letters of Testamentary to begin the repairs of real property that have been deemed necessary to sell the property for top dollar.
Some executors may choose to forego any repairs and sell the property in ‘as is’ condition. This is perfectly acceptable as long as it is the best interest of the estate or there are no funds available to pay for repairs.
In these cases, your trusted real estate agent will have investor buyers on hand to purchase the property in cash without any repairs.
4. Personal Representative
If the executor as named in the will does not choose to handle the estate sale, the court will appoint someone. This could be an heir or a family member and is referred to as the Personal Representative.
If no one is available for this job, the court can appoint a Court Administrator. The Administrator will oversee the process in lieu of an executor or personal representative.
5. Duties of the Personal Representative
The duties of the personal representative are quite lengthy. These duties include, but are not limited to the following:
While these things might seem daunting, the help of Rhonda Fee, a probate real estate agent in Northern California, will surely make these tasks easier.
It is not necessary for the personal representative to act alone. Together with your trusted real estate agent, who will assist you in the sale of any real property, you will likely have an attorney to guide you through the process. Learn more about selling a house in probate by going to www.RealEstateProbateAgent.com.
Disclaimer: The author is not providing any legal advice. Consult an attorney with your legal concerns.