Most real estate agents have encountered a property that belonged to someone now deceased, whose heirs are selling the home in probate.

In a nutshell, probate is a legal process if someone passes away with or without a will. Even if someone passes away without a will, the estate will still go through probate. For agents who understand the challenges involved, marketing such properties can be rewarding.

But while probate real estate is an opportunity, it is also a responsibility. Communicating with executors and administrators requires sensitivity and understanding as there may be frustrations around court delays, legal complications, and/or disagreements among beneficiaries.

An administrator is appointed by the court for an estate with no will, and an executor is for an estate with a will. The good news is that most executors – and heirs – are financially motivated to sell the property and will work with you to get the job done as quickly as possible.

Next steps:     

• You will need to familiarize yourself with the specific probate regulations in your area and/or seek guidance from a probate attorney to ensure compliance.
• As the probate process will take a minimum of several weeks and sometimes longer, a wise agent will work with the executor or administrator and use that time to get the property cleaned up and make necessary repairs or updates so that it is ready to command top dollar once listed.
• Because deep records searches or other complexities may be necessary to clear title before the sale can proceed, choosing a reputable and experienced title company will play an important part in the process.
• Organizing and maintaining accurate documentation and accounting is essential to ensure a smooth probate sale transaction.

More than 25,000 families nationwide go into probate each week. That means 25,000 families will suffer confusion, anxiety, and possible exploitation as they grieve. Agents with patience, big hearts, and well-honed people skills can find probate sale prospects by reviewing courthouse probate filings and/or monitoring legal notices for probate-related information.

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This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice.

About Bobbi Pronin
Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.

Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.