Probate is the official way that an estate gets settled under the supervision of the court. The purpose of probate is to prevent fraud after the death of the original owner of the property. Going through a probate sale is one of the most complex processes you can go through. It is not as easy as ‘sell my house fast Fort Bend to a cash home buyer’. The court is in charge of the overall activity.
A person, usually a surviving spouse or an adult child, is appointed by the court if the deceased doesn’t have any will. This person is called an executor. The executor has the legal authority to gather and value the assets owned by the deceased to pay bills and ultimately distribute the assets to the beneficiaries.
There are many things relating to probate that you should know. This article will enlighten you on how to deal with your probate property in Fort Bend, Texas. Let’s explore more on this topic.
What is a Probate Sale?
A Probate Sale is a process where the executor of a real estate property of a deceased person sells the property and shares the dividend amongst the beneficiaries. This is not an easy process to go through, especially if the owner (now deceased) has accumulated a lot of debt.
In most cases, probate is always handled by the court. In the probate process, the court issues Letters Testamentary to the Executor to direct her on how to distribute the assets among beneficiaries, creditors, and any others that are entitled to the document.
Dealing with Probate Property in Fort Bend
A probate process in Fort Bend takes about six months to go through. However, if the primary owner of the property leaves no will, the process can go longer than that. Some of the main steps in the probate process include Filing, Probate Posting, Validation of the Will, and other steps involved in the process.
How to Sell a Probate Property
In order to walk through this process without any complications, you need to work with an excellent real estate attorney and a cash home buyer that is ready to close the sale with you without wasting your time. However, at Ohana Legacy Properties, LLC, we are professional cash home buyers, and we use our own funds to make our offers. We buy houses and are ready to buy your probate house at an attractive price that you will love.
That said, below are some steps you need to follow in a probate sale:
Appraise the Property First
Market the Property
Take an Initial Deposit
If there are other offers, the court will grant them a hearing. It is just that other offers must be 5% higher than the existing offers. When one of the prospective buyers wins the bid, he will be required to pay the rest of the money, and the 10% deposit of others will be returned.
Ohana Legacy Properties, LLC, Is Ready To Buy Your House Fast
A probate sale might be challenging if you don’t know what to do or how to go about it. You wouldn’t know how much stress you are saving yourself until you sell your house to us at Ohana Legacy Properties, LLC.
We are a devoted cash home buyer and ready to buy your house for cash without any delay. When you work with us, you don’t need to spend extra on repairs and renovations. Yet, you will get the best deal you can’t find elsewhere. Our process is designed to give you easy home sales without sharing the dividend with any third party. It is just you and your money.
