Posted on June 1, 2022 by Duval Home Buyers in Sellers
Selling a house fast in probate
Selling an inherited house can be daunting, especially if the sale will require the involvement of probate court. However, while the probate process is time consuming, there are a few tricks you can use to sell your fast when it’s in probate.
What is probate?
Probate is a legal process in which the terms of a will are reviewed for validity and authenticity, or in which the estate of a deceased person is administered without a will.
In real estate, probate helps ensure legal and clear transfers of title, and that all interest in the property has been accounted for prior to transferring the property.
Do I need it?
In Florida, if the family member or close relation had a written will indicating the legal beneficiaries of all bank accounts, real estate, investments, insurance policies, and other assets, probate may not be necessary. However, If the individual passed without a will or trust, all assets, including real estate becomes probate property and must pass through probate court.
In most cases where probate is necessary, the court will appoint a personal representative to administer the probate estate. This personal representative can better assist you in understanding the need for probate, and the process for your unique situation.
Why you shouldn’t skip out on probate
If you and all other heirs and beneficiaries are in agreement about how the estate should be handled, you still shouldn’t skip probate where legally required.
For one thing, trying to transfer your probate home by quit claim deeds or any other type of quick deed may seem like an easy alternative, but title companies will not be able to issue title insurance on deeds that didn’t properly pass through probate, regardless of who is now in title. In short, selling a home with a quit claim deed from a family member who has passed won’t circumvent probate.
Additionally, those family members who you were in agreement with might change their minds. without a court appointed mediator and written agreement of how the estate is to be handled. Claims to interest in property can significantly slow the sales process if you decide to sell your probate property.
The fastest way to sell a house in probate
When you want to sell fast, especially during probate, the best solution will be to sell to a cash buyer. A professional cash investor such as Duval Home Buyers is well networked with probate attorneys and courts, and can help expedite the process.
Additionally, unlike using a real estate agent, when you get a cash buyer to buy your house fast for cash, you will have an all cash offer, before your probate has even begun. That means that you can close the sale the day that the probate is complete, saving you time, and tens of thousands in potential fees, mortgage payments, and taxes.