The probate process can seem like an intimidating process, like a maze. It is certainly not simple, and it can cause stress on a family.
With knowledge, guidance, and compassion, it can go a lot easier. A probate process does not have to be difficult.
Check out the free Probate Process Timeline resource here.
Let us cover what probate is as simply as possible
Probate, in the state of Texas, is the process in which a court legally recognizes a person’s death and oversees the payment of a deceased person’s debts and the distribution of [their] assets.
If there is no appointed heir when the owner passes, the property is turned over to the probate courts and they will appoint control to the closest relative as the executor to manage the assets and/or property.
Now there are a lot of other steps, but this is where a Texas licensed probate attorney can help you with the legal side and a Certified Probate Real Estate Specialist (CPRES) will help you with a probate property sale.
At some point during the probate process, the executor will be granted a Letter of Administration or Testamentary from the probate court. This allows the executor to distribute assets, pay bills and sell estate property.
Also, creditors who have been put on hold during the probate process are now going to want to get paid. In this case, getting the assets and the house sold quickly can be a benefit.
With a valid and executed will, the probate process can be as quick as 4-12 months. Without a will, the probate process can take as long as 24 months.
Do not know where to start? Here is a quick, free guide on how to start the Probate process in Texas.
Ways to sell your Probate house?
Realtors
Most people think of working with a Realtor first when buying or selling a house. Realtors have a large network of contacts to get your house advertised and get a lot of showings. There will be a lot of activity and traffic. Even in a hot market, working with a Realtor may take longer. Why?
They do not buy the house from you.
- Realtors will explain what needs to be done to the house for them to get it listed (repairs, painting, clean-out, etc.). This will be your responsibility…and cost.
- Realtors will list it and go through several showings to gather offers. During this time, you will have to always keep the house “retail ready”.
- Closing make take longer than you think (30-60 days).
- Realtors collect on average 6% of the sale price as a commission.
- Closing costs can add another 3-5% taken off your proceeds.
iBuyers
iBuyers will make you an above-average and quick cash offer on your home. Instead of going to see your home right away, they will take your home details via an online form. You can also upload photos and/or a video tour.
- The iBuyer will then use that to make you a preliminary cash offer.
- If you accept the offer/contract, the iBuyer will send someone to inspect your home. Any necessary repairs or clean-up needed will be estimated and deducted from the original offer, and you will have to sign an amended contract.
- iBuyers can close more quickly, but you will have to pay a fee for expedited services.
- The main drawback of iBuyers is their fees. Although their home offer is reasonable, they tend to charge much higher fees than if you’d work with a Realtor or a Local Professional CPRES House Buyer.
- Service fees, closing costs, and non-negotiable repair fees all eat into your profits.
Local Professional CPRES House Buyers
Local professional Certified Probate Real Estate Specialist House Buyers, like Ohana Legacy Properties, are trained certified specialists who understand what you are going through. Most of them have been through this before with their own families. They understand and they can help guide you in the right direction.
With Ohana Legacy Properties:
- Local and family owned.
- Present options that are best for you.
- Experienced guidance through the Real Estate Probate process.
- Fair and concrete offer within 72 hours.
- Close as quickly as 10 days or on your timeline.
- Buy your house in AS-IS condition.
- No realtor commissions, closing costs or hidden fees.
- Compassionate care of contents.
- We do all the heavy lifting.
- Treat you like family.
- Make it easy.
For more information on Ohana Legacy Properties and what they can do for you: https://ohanalegacyproperties.com/
or set up a time to talk to us here.
This information is for educational purposes only. It is not intended to be legal or financial advice. Always seek out the council of a Texas licensed Probate Attorney and/or CPA.
