Selling real property in probate can seem totally over-whelming. What does one do!? Where do you start? OMG! People have these feelings and then do nothing. Today let’s break it down to five simple steps:
1) Select a qualified California probate lawyer. Yes, I am one with excellent qualifications and I work throughout California. However, you don’t have to pick me. You just need to pick some one who is experienced as a probate lawyer. Do not select one that dabbles in probate though. Find an EXPERT!
2) File for probate and get Letters Testamentary (or Letters of Administration). You can’t sell a house before you file so get your probate filed and get your LETTERS!
3) Sign a probate listing agreement. You can’t sell the house without a probate listing agreement so get it signed with a qualified Realtor.
4) Find a buyer. It can be difficult to find a qualified buyer who can borrow money to buy the house. So make sure you have an experienced Realtor who knows what to look for.
5) Send your notice of proposed action (or get court confirmation if required in your case). Do not allow escrow to close without taking one of these steps. Without it you will be on the hook if someone decides the house didn’t sell for enough.
There are, of course, many more steps but these are 5 crucial ones to keep in mind!