How To Sell a Probate Property in Orange County

After facing the loss of a loved one who didn’t have a will or investments protecting against the process altogether. To sell a probate property can mean long drawn out proceedings, especially with larger estates. 

It can be costly to go through, so avoid making the mistake of skipping any of the legal requirements which can further tie up your property. You’ll need to be patient as the assets of the deceased are analyzed and the rightful inheritors of the estate are determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds evenly among those beneficiaries.

Should you find yourself in this position, read on for information on how to sell a probate property in Orange County.

Certain aspects of this real estate law are common among all jurisdictions, for a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property in Orange County.

How To Sell a Probate Property in Orange County

Certified Appraiser

Your first step will be to locate an independent certified appraiser. You can either reach out through phone listings or word of mouth among probate property real estate professionals in  Orange County.

Petition

Once you’ve obtained your certified appraisal, you’ll next want to proceed by filing a petition with the court to sell the probate property in Orange County. While filling out your petition, be certain the information includes any pertinent information about the property along with the method that will be used to complete the sale, be it at an auction or on the open real estate market. Submit your petition along with your certified appraisal. Once you’ve obtained the court’s approval, you may then proceed with the sale.

Offer the Property

For sale, with conditions! Now that you can finally take action and sell your probate property in Orange County, you’ll want to make certain to disclose to your potential buyer that the court’s confirmation of the transaction is required before you can accept, making the offer conditional.

Court Confirmation

Commonly, once you’ve petitioned the court for a hearing to confirm your sale, you can expect delays on the court calendars ranging from between 20 to 40 days, from the filing date.

Deposit

Plan to collect a 10 percent deposit from the buyer at this time, which is based on the purchase price.

Advertise

Because the ultimate goal of the sale of a probate property in Orange County is to garner the highest amount possible for the estate, you must advertise your court hearing to the general public for a process known as open bidding. This allows any additional interested parties to participate in the purchase of the real estate, aiding in raising the final purchase price.

Court Hearing

Now you’ll need to attend the court hearing and wait until the unconditional bidding has concluded and a cashier’s check is presented for the final figure. Your buyer will be able to participate along with any member of the public who so chooses, bids increase by $500 at a time. 

Refunding the Deposit

Should a new buyer overbid your buyer during the court proceedings, be prepared to refund their 10 percent deposit. Otherwise, should your original buyer maintain the highest bid, the funds you previously collected from them would be applied to the purchase.

Closing

Finally, you can close on the contract for your probate property in [markte_city]. Be certain that the costs of the property are covered by the financing. You’ll also be responsible for placing the full amount into the estate fund.

We’re here to assist you during this difficult time and make the process easy. Call H&M Realty Group today at 949-625-4533 or send us a message to sell a probate property in Orange County.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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