What a hot topic right now! Sure short sales or “upside down houses” or houses without equity are hot topics for a large number of people. However, when dealing with short sales after death there are different rules, different procedures and different outcomes. In fact, the probate code has special rules that can make a short sale profitable to the Administrator of the Executor of the estate if done exactly right. That is California Probate Code 10360 which I will paste in full down below.
If you know all the rules you can come out ahead! I have helped Administrators and Executor’s of California probate estates walk away with $15,000, and more, in their pocket! That is, their loved one died with an upside down house and nothing else but I have been able to put money into their