A Florida probate sale can appear to be an intimidating process. With knowledge it can go a whole lot easier, although it’s definitely not a simple procedure and one that can cause strain on a family group. In Palm Beach County particularly, there are many cases of elderly homeowners passing away and leaving property to their heirs. When the owner of a property passes away, real estate goes into the Florida probate court. After all of the measures for selling have been taken care of, the probate court will manage profits being split between beneficiaries.
The easy answer to “How to sell during probate,” will be to find a top notch, experienced Florida real estate professional. It is going to be a much easier experience for you personally. To produce things even more easy to comprehend, this is a simple explanation of how a probate sale procedure operates.
Appointment of Executor or an Administrator
They are ready to act as the executor, and if a person continues to be named in a will by the decedent, then that individual is made as such. Then the closest relative will likely be made as an administrator either from the court or alternative relatives, if there isn’t any chosen executor.
A buyer must make an offer, which may be rejected by the sellers. The estate representative, through their Florida probate lawyer, will subsequently submit to the court to verify the deal. If all parties agree, then a future date is set for the sale to be finalized in court.
A Notice of Proposed Actions is mailed to all or any heirs, simply saying the terms of the projected deal when the property has an approved offer. The heirs have 15 days to examine the notice and pose any objections. The sale may proceed with no court hearing, whether there aren’t any objections.
Other Important Steps to Take
All liens and permits should be cleared before selling a home in probate. The existence of liens may be an impeding factor on a judge granting probate to an executor of an estate. Please reach out to us where we can refer you to a service that clears liens and permits that may be outstanding on a property.
Be current on all bills associated with HOA dues, real estate property taxes, and utilities that may not have been reconciled after the passing of the deceased owner. In some cases, these charges can be paid out of closing costs, whereas other times, the executor of the estate will need to address them prior to the closing date.
When Sellers of a probate home are negotiating terms and conditions for a contract with a prospective buyer, it is crucial that they give a healthy amount of time between accepting the contract and closing date. We have had experiences representing Sellers that thought they had all matters wrapped up according to their attorney where they could close within a month from when the Seller went under contract. The property ended up not closing for an additional four months where both the buyers and sellers had to wait while probate procedures were slowly taking place in court.
The most important step to take is to find a high caliber probate attorney who has seen all types of cases and knows how to address potential legal issues.
For a good recommendation on the best probate attorney in South Florida, give us a call at 561-880-5696 or email us at firstname.lastname@example.org