Why Your Real Estate Agent Needs To Be Experienced With Probate

If you will need to sell a house that is in probate, the process can be more complicated than selling a house the normal way and you may need help from a real estate agent. There are realtors who can sell the home without probate experience, but you are best off selling the property with the help of a real estate agent with experience with probate.

Many Real Estate Properties Go Through Probate

Probate is typically only avoided if the owner of the home makes arrangements through a living trust. This way, the home is distributed without the need to go through probate. Because different states have their own laws regarding how a home can be sold, you will need to make sure that you work with a probate real estate specialist who has sold these types of homes in your state.

For example, if you are not required to sell the home through probate court, you will want to wait until the probate process is finished and you can then list the home to be sold. With the probate process, the house will be one of the pieces of property that will need to be inventoried and appraised. Then it will usually be sold to cover any debts and the remaining inheritance will be distributed to the beneficiaries.

The Benefits of an Experienced Probate Realtor

A probate realtor who is experienced will understand the differences that exist when selling a home that is in probate. One of the primary differences between a normal home sale and probate is that you will be acting in the best interest of the estate rather than yourself.

You will need to receive approval from a judge and also be guided by a judge when setting the price of the home when placing it on the market. You might be granted independent administration or you might be forced to go through dependent administration. 

Independent Vs. Dependent Administration

With an independent administration, the home selling process is similar to how you would sell your own home. However, you will still want to work with a probate real estate agent to make sure that you are following all of the rules such as listing the property as probate.

However, if you will be listing the property through a dependent administration, you will especially need help from a probate real estate agent because the process will be more complex and will be handled through a hearing. To learn more, contact a company like Maher Probate Realty.

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Understanding Real Estate Challenges When you are faced with a down market, there are a lot of things that can run through your mind as a homeowner. If you had to sell, would you be able to make your money back? What will you do if you have to sell your property at a loss? Do you think you are ready to buy a new home? Although there are a lot of things that are important to think about, the fact of the matter is that understanding real estate challenges is instrumental to making money with your property. From moving forward with new ideas about real estate to working with the right professionals, it pays to read up on the market. Learn more today!