Probate Real Estate Agent
When selling a probate property, the family can simply select the first agent recommended to them, but that could be a big mistake. Probate Real Estate Agent. Selling a probate property is a complex, lengthy, court-related process that requires a specialized agent’s services. Consider the benefits of selling a probate property with an agent Denver Colorado who has the niche knowledge and training.
Courts and Attorneys
As we mentioned, many people’s first reaction is to get the property listed and sold as soon as possible when they first discover how the process can be complex and drawn out. This is usually not only a mistake, but it can also land you in legal hot water. It is very different from selling a traditional home to sell a probate property.
First of all, even you are named in the will as the executor of the estate, until the court officially appoints you as the personal representative of the estate at the first hearing, you have no legal authority to enter into a property deal. “This means you can’t list the house or even sign a listing agreement with your probate officer until you have the probate court’s authorization. You need to file a petition with the probate court with a probate attorney to obtain this authorization and then wait until the first hearing gives you rights.
So a probate attorney is the first professional you’ll need to sell a probate property. Then it will be necessary to hire a real estate agent experienced in probate sales. One of the benefits of using Probate Real Estate Agent Denver Colorado at this point is that she can help you get the house ready for sale and perform a comparative analysis to reach fair market value while waiting for the probate court.
Your probate attorney will, of course, charge the property by the hour (as any other attorney would do), but your probate attorney will receive a commission on the sale, just like a traditional real estate agent. There are many critical documents and legally mandated steps to be followed in this whole process. If you don’t want the estate to keep shelling money on the fees of the lawyer, your agent can help you and guide you through all this.
In Denver Colorado, selling a probate property includes a host of legal intricacies that your agent can help you stay on top. Last but not least, it reveals that the property being sold will be subject to probate laws. The idea here is to inform early buyers that a sale will only be completed on confirmation from the court.
“A hearing will be scheduled for court confirmation once an offer has been made. The probate sale has to be announced while waiting for the hearing with the offered price in the local newspaper. This is to inform other potential buyers who at the actual court hearing will have the chance to bid for the property”.
So if there are other interested buyers present during the court hearing, there will be an actual court – led bidding process. After the bid and at the end of the hearing, a final buyer will be confirmed by the probate court. And then the estate executor can finish the sale.
Then selling a probate property requires you to become familiar with the many relevant laws or hire an Denver Colorado agent who understands all of this. It’s your choice, but for most people, the second option is by far the best.