SELLING YOUR PROBATE HOME
Probate & Trust Real Estate Sales
Probate is the process of legally proving a will. Real estate must go through probate so that the Personal Representative (Executor) of the will can legally sell the home. Once you have the court’s approval, you will be able to officially list the home and start the selling process.
Only someone with legal authority to manage the estate’s assets is able to sell a home during the probate process. This individual is the Personal Representative (executor) and must be formally appointed by the Probate Court to have authority over estate assets. In Florida, a person, bank, or trust company appointed by the judge to administer the decedent’s probate estate can be a Personal Representative (executor).
It can be beneficial to sell a home during probate because only the Personal Representative (executor) needs to sign the sale documents and the net sale proceeds become available to help pay valid claims against the estate. If the home is not sold during probate, then the personal representative distributes the home to the beneficiates via a Personal Representative’s deed at the end of the probate with prior court approval. If the beneficiaries then wish to sell the home all the beneficiaries must sign the sale documents, which can complicate and/or delay the sale process.
Probate and trust real estate sales can be a complicated and intimidating process that can cause strain on a family. Hiring a seasoned real estate agent with experience in this specialized arena can make the process easier for all parties.
To ensure a successful outcome you need an assertive agent with:
- Superior communication skills who can clearly explain the process in layman’s terms;
- Strong negotiating skills;
- Knowledge of the special disclosures, listing agreements, unique marketing strategies and terms of the Probate Code in order to handle the sale accurately and promptly;
- Network of professionals for properties that need repair, clean out, estate liquidation, etc.; and
- Strong record of satisfied customers.