A Property in Mooresville, NC is in Probate: What Does That Mean?

Probate is the legal way of selling the real estate property owned by a deceased person under court supervision. In a Probate, the spouse or the adult child of the deceased is appointed by the deceased if there is a will, or by the court if there is no will to oversee the real estate property.

You should know that a probate sale is different from a regular sale. This is because the court retains control over the progress of the sale. However, if you intend to purchase or sell a house that is in probate, there are certain things you must understand. This is why we have come up with this article to equip you with more information on the NC probate process and how to avoid probate in NC.

Since it is a Probate House, Will I Get the Best Deal?

In a case like this, the best thing is to employ the service of a real estate expert like Maverick Property Group, Moresville, NC. We encourage you to contact our team to get help for your transaction and to inquire more about the opportunities we can offer you.

You should know that buying a probate home has a different process when compared to buying a repossessed home. Since the owner of the property is dead, it will be easier to get the house at a good price. The entire probate process is created to help you go through the purchasing process with ease and get the home at the best price.

One major thing that makes investors want to buy a probate house instead of a repossessed one is that the property vendor will ensure that the house goes through necessary repairs. In a repossessed home, repairs will not be made.

Probate House, Will I Get the Best Deal

What to Do If There is a Will in Place?

Before you inherit a house that is in probate, you must ensure that there is a will. Having a will in place can help prevent unnecessary delays in the probate process. However, you should be aware that there could be some actions instructed in the will that will further impair the probate process.

These actions include:

N

Having the house on joint ownership

N

Community property law applies to the house

N

Appointing a living trust to oversee the property.

N

Converting the property to a transfer on a deadly deed.

What If There is No Will?

If the deceased owner has no will, the North Carolina rules of inherited property without a will may be enacted in this case.

They are summarized below:

N

If the spouse is the sole survivor, they will inherit the property.

N

If there are a spouse and other children, the spouse will take one-third of the property, and the children will share the rest.

N

If the deceased has no spouse or children, the parents will inherit everything.

Work with Maverick Property Group, Mooresville, NC, To Get the Best Probate Deals!

The NC Probate process is a complicated one that requires the best hands. This is why you need Maverick Property Group, Mooresville, to work with you in the process. If you are interested in buying or selling a house in probate, we will help you get the best deals.

At Maverick Property Group, LLC, we will offer you the support you need in due time.

We also have a wide large nationwide network of resources across North Carolina. Please, feel free to contact us today and let us know how we can help you.

 

Call: (704) 614-6699

Recent Blog Post

How Do I Sell Real Estate During Probate?

How Do I Sell Real Estate During Probate?

Probate is the legal way of selling real estate owned by a deceased person under court supervision. As an executor of the estate, you may have to sell off the real estate if it is not directly willed to a specific beneficiary. After that, the probate court handling...

What Happens to a House in a Divorce?

What Happens to a House in a Divorce?

Almost everything you do requires a plan, including a divorce. Going through a divorce requires that you make decisions on joint assets. In this case, several couples always conclude on selling assets before divorce. However, the process involved in divorce sales is...

How to Save Big When Selling a House in Probate

How to Save Big When Selling a House in Probate

Several people have heard a lot about probate sales. However, most of what you see, especially on the internet may not be the right result you can work with. Nonetheless, if you'd like to save big when selling a house in probate, it is important that you work with a...

Easiest Way to Sell a House When You Divorce Your Partner

Easiest Way to Sell a House When You Divorce Your Partner

Selling a house during divorce can be quite inevitable. If neither spouse can afford to buy out the other, or if neither wants to stay in the family home, the best thing, in this case, is to sell the house. You should know that before the sale proceeds can be divided,...

How Does a Probate Sale Work?

How Does a Probate Sale Work?

Probate sale could help save money upfront, but it can be a complicated way to acquire a house. The probate sales process is different from traditional selling. Here, the process is monitored by a court. A probate sale usually happens when someone, the owner of a...

1

No Fees. No Commissions. Put More Cash In Your Pocket!

Fill out the short form:


GET YOUR FAIR CASH OFFER