We Buy Houses In San Pablo California, and we are often asked from homeowners “Can a house be sold while it is in probate in San Pablo CA?” As California home buyers, The answer to that question is “Yes.”
But you must adhere carefully to your state’s pertinent rules and regulations. The probate court will monitor every step and all aspects of the sale, and if you’re the executor, you, too, must monitor and approve all the terms of the sale. It can be a complex process, but understanding it will make things a little smoother.
Can A House Be Sold While In Probate In San Pablo CA?
Appointment of CA Administrator/Executor
If the decedent’s will designated a specific person as the executor and that person is willing to act in that capacity, they are officially appointed as the executor. If, on the other hand, no one has been designated as executor in the will, then the court and/or other relatives will appoint a near relative to act as administrator.
Appraisal OF San Pablo Property
The next step is to have the property appraised. But you must make sure the appraiser you choose is a licensed, reputable appraiser. The property must sell at a price that is at least 90% of the appraised value, so you need an appraiser who can get it right.
Sale Of California Home
This is the step where the answer to “Can a house be sold while it is in probate in San Pablo CA?” begins to become a reality. And you’ll start by having your agent list the house on a multiple listing service so that buyers will know it’s a probate sale.
An interested buyer makes an offer and a 10% deposit, an offer that you can accept or reject. If you do accept it, the offer is then subject to court confirmation. You must submit the offer through your probate attorney to the court for confirmation. If everyone agrees, then a date is set for the sale to be finalized in court.
When the offer on the house in probate has been accepted and confirmed by the court, a Notice of Proposed Action must be mailed to all the heirs. This document states all the terms and conditions of the proposed sale. Heirs then have 15 days to review the notice and raise objections if they have any. If none of the heirs has any objections, the sale can go forward without a court hearing.
Overbidding In San Pablo
Now, here’s where it gets a little complicated. Before the court confirms and approves the original buyer’s offer, the judge will ask those in the courtroom if they would like to bid on the property. If no one does, then the sale proceeds in the standard fashion mentioned above.
If there is an overbid, the original buyer’s 10% deposit must be refunded before the new sale at the new bid price can proceed. When the overbid is accepted, the new buyer must put up a 10% deposit, which must be a cashier’s check. This check for the accepted overbid deposit is presented to the executor/administrator at the winning bidder’s acceptance hearing.
Upon court confirmation and approval, a contract can then be signed. But it is a specialized kind of sale contract because it cannot have any contingencies, and escrow closes soon after the hearing, usually within 15 days.
Sell My House In San Pablo CA
As you can see, there are some complicated rules for selling a house while in probate. It is advised to consider contacting an attorney for more specific help. We are homebuyers in San Pablo and we offer cash for houses in CA in any situation, so if you would like to sell your house in CA fast and without the hassle, give us a call. We’re ready to help you reach your real estate goals and be glad to answer any questions about the probate process.