Probate is the process in which a deceased individual’s assets and property are reassigned to their heirs and beneficiaries after their passing. Usually, a last will and testament dictates this process, but there are occasions where one is not provided.
Regardless, the probate process is required by the court of law. During the process, heirs set to inherit the property might prefer to put it up for sale instead of having to decide how to divide it between them, or figure out how to maintain the property.
Now, if you’re wondering, “How do I sell my family home in Oceanside?” there are a few steps you have to follow.
We at Ignite Property Solutions advise you to go through the following steps, to make sure selling your house in probate is a smooth and hassle-free transaction.
Here’s how to sell your house in probate fast in Oceanside:
Tip 1: Be sure to appoint or get in touch with the executor for the decedent’s last will and testament.
The first thing to do to sell your Oceanside property is to reach out to or appoint an executor for the decedent’s will. If the deceased named an executor prior to their passing, that person, should they be willing, will be assigned to carry out the decedent’s wishes.
If an executor has not been specified, the court or the heirs and relatives of the decedent can appoint a close relative to fulfill the role.
It is the executor’s job to ensure the deceased’s wishes are properly carried out. They will work closely with the heirs to decide the future of the estate, including the Oceanside property.
Tip 2: It’s a good idea to have the Oceanside property appraised.
From there, the next person you have to involve in the property-selling process is an appraiser who can give you a fair and appropriate estimate of the property’s value.
Working with a reputable appraiser is in your best interest. Be sure to involve an appraiser you trust, as a property is required to sell at least 90% of its appraised value. A trusted appraiser will guide you on how best to sell your family home in Oceanside.
Tip 3: Don’t forget to obtain the petition to sell the Oceanside property.
Once the property is appraised, you’ll have to obtain a petition from the court to sell it.
To do so, you are required to fill out a petition form that includes all the details relating to the property’s sale. This can include the methods of sale and the appraised property value, after which you can then submit the petition to the court for approval.
Best to file this as soon as you can fill in all the details for the petition, as you might have to wait for a period of time for the petition to be approved.
Tip 4: Put the property up for sale on real estate listing services, or get in touch with an agent.
Once you’ve received approval from the court, you can put the Oceanside property up for sale!
There are many ways you can have the property put up for sales, such as working with a real estate agent or putting your property up on listing sites and services.
When putting your property up for sale, you must not forget to specify that the property is on probate sale.
Here’s why:
A buyer who wishes to purchase your property is required to make an offer and put down a 10% deposit. As the seller, you may accept or reject this offer, but if you accept it, it must be submitted to your probate attorney for court confirmation.
All heirs and interested parties involved in the property must have an agreement regarding the offer. A Notice of Proposed Action is formally sent out to all heirs and beneficiaries involved, stating the terms and conditions of the sale. The heirs are given a 15-day period to review the terms of sale and raise objections or concerns they might have regarding it.
From there, the court finalizes the date of the property’s sale. If no objections are raised, the sale may go forward without a court hearing.
However, if the property has had multiple offers, a hearing is held for all interested parties to bid on the sale.
Tip 5: You can’t miss the hearing and bidding for the property.
The last thing to do is attend the court hearing for your Oceanside property, where bidding among interested buyers occurs.
Once a final agreement is reached, and you have confirmed the final bid, the court receives a cashier’s check. If you are interested in a better offer from a new buyer, you are required to await the court’s confirmation to refund a previous buyer’s bid and return their deposit.
The quickest way to sell your house fast in Oceanside is to sell to a professional home buyer!
Need more info?
If you’re looking for a solution, we buy houses in Oceanside, CA with a process that’s guaranteed to be faster than any other traditional method of sale.
Ignite Property Solutions is interested in purchasing your house in probate. We offer fast, hassle-free transactions for your property. Working with a cash home buyer in Oceanside ensures a quick and simple process, as many cash home buyers have experience purchasing probate properties.
If you are looking to sell your house fast in Oceanside, contact Ignite Property Solutions at: (760) 472-5566 or send an email to: info@ignitepropertysolutions.com to get started.
