Probate estate sales are complex compared to standard real estate sales. There are more steps that are involved in this kind of real estate deal, and more people are involved in the process in most cases. You will need to secure a realtor who is experienced in probate sales, whether you are selling a home or property impacted by probate, or buying one.
A probate real estate agent will help you to sell or buy this kind of property without all the hassles and struggles that would be likely if you were trying to navigate this process on your own. Be sure that you don’t leave anything up to chance when working with buying or selling this kind of property by hiring someone experienced in this kind of sale to help you out.
What Probate Realtors Do in Texas
Not every state requires probate to be part of the process of handling someone’s estate after they have passed. Some states have a limited probate process as well. In Texas, the probate court validates the will, appoints someone to represent the estate, and performs a whole host of other essential steps in the process of dividing up someone’s assets after they have died.
Properties that are sold with probate in the mix require a different process than properties that are not involved in the probate process. This can lead to costly mistakes on the part of the seller or the person buying the property if they are not aware of the rules and regulations associated with probate in the state of Texas.
In the state of Texas, probate realtors are certified as specialists and get training from the U.S. Probate Services department. This ensures that they understand how to sell these kinds of properties and that they will ensure that all the documentation and other work is done to properly sell the probate property. A test is required at the end of this training, which means that the realtors who are able to sell properties of this type have the necessary knowledge to handle the sale properly.
Probate realtors do the following for those who are looking to buy or sell property that is part of the estate of someone who has passed away.
1. Provides Market Analysis
The probate real estate agent will look at comparable properties and the market and determine a fair price for the property as well as the home itself. This is important from the court’s perspective as it allows the court to figure out what the home should sell for. Even if family members want to buy the property, a fair market price needs to be assigned to the property before it can transfer hands. Family members of someone who has passed away who are looking to buy a property that is involved in an estate need to remember that market prices can fluctuate, and this might not be the final sales price of the property.
2. Stage the Home for Sale
If the home needs to be sold to the market outside of the family, the realtor will stage the property and ensure that it looks its best when it gets listed for sale. This is one of the most important steps in the process of selling any home, and ensuring that your property puts the best foot forward is almost a requirement if you want to sell it for maximum value. Probate properties still need to be shown to advantage if they are going to sell readily.
3. Get Court Approval
Court approval and following the proper process for selling a probate-involved property is critical. A realtor who is experienced in this kind of sale will know the ins and outs of the legal documentation and processes that must be completed to sell the property. This saves you time and money on either side of the purchase process. Most people would not know how to sell this kind of property without the help of a skilled expert, which is where this kind of realtor comes into play.
