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 professional real estate agent, Concord, NC. For the best result, we would recommend that you work with Maverick Property Group, LLC, an indigenous realtor that understands the real estate market in Concord and other parts of North Carolina.
Probate sales could be stressful and challenging. For this reason, we have come up with this article to enlighten you about how to make maximum profit in probate house sales effortlessly. Let’s explore more.
What Is A Probate Sale?
Probate is the legal process a real estate property goes through after the original owner has died. In most cases, the deceased would have left a will that designates the beneficiaries. The probate court will oversee the sale of the house, even though an executor will be appointed. In this case, the executor is an individual that has the legal right to sell the probate property and distribute the proceeds to the right channels.
Moreover, if the deceased has an outstanding debt, the house will often get sold while in probate. That is, the executor will sell the house and use the money made to settle all debts before distributing the money to the beneficiaries.
Who Is Involved In A Probate Sale?
There are many people that may be involved in a probate sale. It really depends on the case, but most often, the parties involved are:
The Main Administrator Or Executor Of The Estate
The Real Estate Of The Executor
The Buyer's Real Estate Agent
The Buyers
The Judge
Requirements To Sell Probate Property: How To Sell Big
In a probate sale, the executor is mandated to sell the property at the best price. Often, this turns out to be an issue, especially if the executor is appointed by a judge due to uncooperative heirs. The executor will then proceed to hire a real estate agent and sign a listing agreement. It is advisable that the executor finds a real estate agent who has:
Experience In Selling a Probate Property
Understands The Local Real Estate Market Of The Region
If you are in Concord, NC, and you seek the services of a professional realtor, feel free to consult Maverick Property Group, LLC. We will respond to your request almost immediately, and you will get the satisfaction that accompanies working with a top-rated real estate agent, Concord, NC. The real estate agent will be in charge of showing the house to potential buyers and ensure that each written offer contains the required 10% deposit by the court. After that, the real estate agent will take the offers before the executor who will either reject or accept the offer of sale. If the offer is accepted, it will be taken back to the court to affirm the sale.
The Probate Sales Process
After the offer has been sent to court, you will receive a court date for the offer to be confirmed. Throughout this process, the house remains on the market to allow for better deals to be brought forth. The confirmed date may be 30 to 45 days from the date you notified the court.
However, if there are other huge offers, the court will be compelled to sell the property via auction. Once the highest bidder wins the sale, they must make the required deposit.
Wrapping Up
As you can see, the probate property sale procedure is gruesome when going through it alone. The key to saving big and making the right sale is to find a professional real estate agent, Concord, NC. For maximum satisfaction, work with us at Maverick Property Group. We are a local real estate business in North Carolina, and we will offer you multiple options to choose from when selling probate real estate property.
