Starting your journey to buy or sell a home can be scary if you aren’t familiar with everything that needs to happen! That’s why you need a trusted advisor to lead you through the whole process.
How To Sell A Home In Probate In California
Dated: May 25 2018
By Brian Bean & Tim Hardin
Selling a home after the death of a loved one can be overwhelming.
The executor or administrator of an estate bears heavy responsibilities and must make clear-headed choices, all while dealing with the emotional strain. Meanwhile, fellow heirs are watching, waiting and perhaps even pestering.
Here are answers to common questions for executors and administrators of an estate in California:
What is Probate?
Probate is the legal process for the transfer of assets – houses, cars, stocks, personal belongings, etc. – from the deceased person’s name to his or her estate so they can be sold or distributed to the heirs.
Probate, which takes place in the county of the decedent’s residence, validates the terms of a will (if there is one), appoints a personal representative, and pays creditors before distributing what remains to the heirs.
Do I Need an Attorney?
Though an attorney is not required to file a petition for probate in California, it’s usually a good idea to have one. And you should definitely consult an attorney about the specifics of your situation.
The probate process has strict rules and timeframes. An executor or administrator acting “in pro per” for an estate could cost themselves time and money with just one miscue.
Will I have to go to court?
Not necessarily. If the assets of an estate were put in a trust or if the personal representative of the estate has “full authority” to oversee and liquidate the estate, court confirmation may not be required.
In cases where the administrator or executor has “limited authority,” a court confirmation is usually required to approve the sale or distribution of the estate’s assets.
How long does probate take?
The entire probate timeline can run 9-18 months, depending on the complexity of the estate. The sale of real estate can occur early in the process – usually after about 60 days, when the Letters of Administration or Orders for Probate are issued.
Do I need a real estate agent?
Other than an attorney, your most valuable resource will be a Certified Probate Real Estate Specialist. Realtors with this exclusive experience and training can help ensure critical details are handled during the probate process.
Probate real estate transactions require many extra responsibilities, so your agent must be familiar with the process to ensure all steps are followed.
Experienced probate agents also can connect you with other experts to make your job easier. For instance, you may need an estate-sale company, art or antique appraiser, auto appraiser, locksmith, haul-away service, cleaning service, pool or landscape service, or even a good charity for unwanted personal property.
How do I get my life back?
The surest way to efficiently complete your task is to make sure you have the right people helping you along the way. Pick a good attorney, not the cheapest one. Choose an experienced Probate Real Estate Specialist, not just an agent who helped you buy a home years ago.
Focus on those two partners so that you can finish the probate and get back to some normalcy in your life.
Need a referral to a good probate attorney or estate planner? Call us today at 951-778-9700 and we’ll connect you with a local expert.
Brian Bean and Tim Hardin, Realty ONE Group Champions, are Certified Probate Real Estate Specialists and Homeowner Advocates.They can be reached at 951-778-9700,PE@DreamBigRealEstate.comor at http://www.CalProbateHelp.com. BRE #01346382 #01771911
Brian Bean BRE 01346382 951-314-5402 Timothy Hardin BRE 01771911 951-367-5821 19322 Jesse Lane Riverside, CA 92508 951.565.8105 WE ARE A TEAM OF HOMEOWNER ADVOCATES and Real Estat....
Latest Blog Posts
OPEN HOUSE 1-3 PM OCT. 21This May Ranch home offers a great opportunity for investors or income-property owners, with strong rental income and staggering CAP and GRM. Officially, this is a 4Bd