Losing a loved one is never easy. Plus having to deal with everything they left behind can make it even harder on the heirs. You start to feel like you’re making great progress when you initially start the probate process, just to find out that it’s a big waiting game. Can a house be sold while in probate?
So what is probate? Probate is the process of reassigning and/or settling an estate after a person passes away. The assets of the estate, which can include any real estate, cars, and any personal possessions, will be transferred to the named beneficiaries in the will that the deceased person left behind. And usually, if the deceased person left behind a will, then it must be processed through the probate courts. This will need to be done before the title/ownership of anything can be transferred to the beneficiaries. When a person passes away it is very common for them to leave their property behind for their loved ones to inherit.
Unfortunately, it’s not as simple as filing the will and then the title is transferred soon after. There are so many moving parts and steps that need to be taken which can cause the process to drag out. Typically, you’re looking at between 6 to 12 months from filing before the process is finally completed.
So, because of this sometimes a question arises, “can a house be sold while in probate in Texas?“, and the answer is that IT CAN be sold if a few simple steps are followed. As experienced real estate investors, we always recommend sellers go through the following steps if they’re trying to sell their house while it’s still in probate.
Can a house be sold while in probate in Texas? Yes! But, make sure to follow these steps first!
This doesn’t mean calling a local Realtor to see if they can send you over some comps, because that won’t help you. An official appraisal will be needed and a licensed appraiser will need to conduct this. You can very easily look for an appraiser just by searching online. They will need to make a trip to the home and they will take pictures. The process from start to finish could take anywhere from 2 to 4 weeks and the price varies based on the type and size of your home/lot.
As real estate investors, we look for buying property on probate in Dallas Texas that has already sought property appraisal.
Obtain the Petition
When you are in the process of selling the property during the probate period you have to seek probation from the court. So fill out the petition form and provide all the details related to the sale of the property. If you need a little extra help with this, contact the attorney that filed the probate for you and they should be able to guide you in the right direction.
Then with the help of the independent appraisal, fill out the form and wait for approval from the court.
You will not be able to sell the home until you have completed the procedure of obtaining the petition. It is faster than the actual probate process itself but still required to be completed before selling the home. The reason for this is that the title company will need proof of ownership from anyone selling the home, which means the title will need to be in your name.
Place your Property for Sale
The next step is placing your property up for sale. It’s important for you to inform your buyer that the property will be sold only after confirmation from the court. This is only required if you sell the property during the probate process. If you wait until after the probate has been completed, then you will not need approval from the court to sell. Buyers can ONLY buy the property after seeking court petition approval. If your property matches these conditions then we might be able to take it off your hands.
Seek the Court for Confirmation
Generally, hearings take place within a period of 20 to 40 days after being filed. This will give you the approval to sell your home while in probate as long as you still follow the final steps.
Advertise in Local Newspapers
Inform about the sale and advertise it in local newspapers. The reason for this is that it is required to inform the public about the sale of the property during the probate period. This allows any and all buyers interested in purchasing the home to come forward and submit their offer. That way, you and the court will know that you are getting the absolute best price for the home.
So anyone looking to buy property in the middle of the probate process can bid in the court hearings.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are done and buyers and real estate investors come for bidding. You and the court will review all bids. Once you have made a decision and the final agreement is completed, then usually the buyer will hand over a cashier’s check to the court. This then makes the bid and agreement confirmed once the money is in hand.
We as real estate investors look for property that follows all the procedures and abides by the rules of the court. The reason for this is that it’s important that we take ownership of property from others that actually have ownership. If you don’t go through to proper steps, then you technically don’t have the right to sell the property.
If you’re looking for a REAL cash buyer to buy your property in Dallas, then we can help.