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5 Things You Need to Know About Selling a Probate Property in Orange County

If you have recently inherited a property in Orange County and need to sell it, you may be wondering what the process looks like. Selling a probate property can be a complex and challenging process, but with the right knowledge and guidance, it can be done successfully. In this post, we will cover five things you need to know about selling a probate property in Orange County and how H&M Realty Group can help make the process easier for you. 

1. Understanding Probate

Probate is the legal process that takes place after someone dies to transfer their property to heirs. If the person who passed away left a will, the probate court will distribute the property according to their wishes. If there is no will, the court will distribute the property according to state law. During the probate process, the court will appoint an executor to manage the estate and oversee the distribution of assets.

2. The Role of the Executor

If you are the executor of the estate, it is your responsibility to manage the property and ensure that it is sold in a timely manner. You will need to obtain the necessary paperwork from the court, including letters of testamentary, which will allow you to act on behalf of the estate. You will also need to hire a real estate agent to help you sell the property. It is important to choose an agent who has experience selling probate properties, as they will be familiar with the unique challenges of this type of sale. In some cases, it can be simpler to sell the house directly if there are needed repairs, multiple heirs, or people living in the home. 

3. Valuing the Property

Before you can sell the property with an agent, you will need to have it appraised to determine its value. The appraiser will look at factors such as the size and condition of the property, as well as the location and recent sales of similar properties in the area. It is important to obtain an accurate appraisal, as this will help you set a fair asking price for the property. Selling directly can eliminate this step. 

4. Disclosing Information

When selling a probate property, it is important to disclose any known defects or issues with the property. This includes things like water damage, mold, or structural issues. Failure to disclose known defects can result in legal action against the executor and the estate. Your real estate agent can help you prepare a disclosure statement that outlines any known issues with the property. At H&M Realty Group, we buy houses as-is, no matter their condition. 

5. The Sale Process

Once you have an accurate appraisal and have disclosed any known defects, it is time to put the property on the market. Your real estate agent will help you list the property and market it to potential buyers. When an offer is received, the executor will need to review and approve it before it can be accepted. Once the offer is accepted, the buyer will typically have a certain amount of time to conduct a home inspection and obtain financing. Once all of the contingencies have been met, the sale can be closed and the property transferred to the new owner.

Selling a probate property in Orange County can be a complex and challenging process, but with the right guidance, it can be done successfully. If you have recently inherited a property and need to sell it, it is important to work with a real estate agent who has experience with probate sales or a direct buyer who understands the probate process. They can help you navigate the process and ensure that the property is sold in a timely and efficient manner. With the right approach, selling a probate property can be a smooth and stress-free experience. Reach out to H&M Realty Group today to learn more about how we can help you! 949-625-4533

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We are Hiring Real Estate Agents in Southern California.  Get information here: Pellego Agent

Are you looking to sell your home or know someone who is?

I am a full time Agent as well and offer the below services.  My commission structure will NOT be beat.  I will feature your property on my website: Joe Homs Realtor.  I will ALWAYS create a single property website like this 105 Ovation, Irvine. Everyone likes it when someone brags about their home so I will Blog about it on my Real Estate Blog and Promote it on my Facebook Business Page.  If that is not enough then I will also Post it on Linkedin to my Activity Feed and Tweet about your property on my Twitter Feed…  And oh BTW… I’m going to create a Video and post it on my YouTube Channel, then share that with all my other Social Media Channels

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Find me on BiggerPockets here: Joe on Bigger Pockets

My Schedulehttps://calendly.com/joepellego if you would like a “one on one” appointment with me.

http://www.joehoms.com (my Website)

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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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