Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away they leave their loved ones and their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it is not. Whatever is the situation the property is reassigned to the heirs with the court of law and this extensive thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Asheville?“, and the answer is that it can be sold if simple steps are followed properly. As real estate investors in the Asheville area, Asheville Cash Buyers advises sellers to go through the following steps and also suggests other investors check the procedures when they go for buying property on probate period in the Asheville area.
Can a house be sold while in probate in Asheville? Yes, but make sure to follow these steps first!
Property Appraisal
Before answering the question “can a house be sold while in probate in Asheville?” value has to be determined. There are a vareity of ways to do this depending on personal preference and how involved you want to be in the process. There are three main ways to get an idea of value of your house.
1. An Appraisar: A licensed appraisar will spend time looking at your property and comparing with the other homes in your area to determine what they feel is the market value for the house.
2. Brokers Price Opinion: This is also known as a BPO. The agent you decided to work with will go through the same steps as the appraisar. After they look at surrounding properties they will give you an number or a range where they feel your house could sell for.
3. Contact Us: As a professional company we follow the same steps as above. We will look at surrounding properties and make a determination of what WE WILL pay for the property. Instead of presenting a number that your house might or could sell for the number we present is the number we are willing to purchase the house at.
Place your Property for Sale
Now that you have a value in place for your property you can keep moving forward. Next step is placing your property on sale. Be sure to inform the buyer about the matter that the property will be sold only after confirmation from the court as it is on probate. Approval from the court can be obtained once a contract has been tendered and accepted. With the contract in hand you can the move forward and seek confirmation from the court.
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Seek the Court for Confirmation
As a buyer you have to seek the court for confirmation to confirm the sale of your property in Asheville. You have to wait depending on the pressure of the state court… Generally hearings take place within a period of 20 to 40 days. Please do not forget to make arrangement and make sure that you are working with a reputable buyer. To ensure that the buyer you are working with is reputable, be sure that you are using the state contract and that earnest money has been deposited in escrow with the closing attorney.
Advertise in Local Newspapers
Inform about the sale and advertise it in local newspapers. Typically this is going to be required by the probabe office regardless of whether a sale is going through or not. By advertising the property for sale in the newspapers it allows for anyone who is owed money by the estate to come forward. Although it can be a frustrating step in moving forward with a sale this one is very important as it will protect the estate in future from any claims that estate owes them money.
Attend the Hearing
Attend the hearing of the court. After the final agreement is done the cashier’s check is given to court after the bid is confirmed. Once the final approval of the court is in place the sale can move forward. Typically the closing attorney will coordinate with the court to ensure that all the proper steps are taken so that the transfer of the property goes smoothly.
If you’re looking for a REAL investor to buy your property in Asheville, then we can help.
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