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How is a Mountain View Probate Sale Different From a Regular Sale
A probate sale is not the same as a regular sale, but unless court confirmation is required the differences are not that great. It is a world away from a short sale or foreclosure.
In a probate sale, the owner of a property has passed away and the home is being sold to settle an estate. The owner may have had a will, or may not have had a will, but definitely did not put the house in personal or family trust. The seller of the house is the personal representative of the deceased and is charged with disposing of the assets of the estate to be distributed to the heirs. The personal representative can be anyone the owner requested if their was a will, a child or other relative, a trust department from a bank, a professional like a lawyer or accountant, or a Public Administrator. This person must be appointed by the court and will get his or her authority from the probate court.
The personal representative can request full authority to sell the estate, meaning they do not have to get the offer confirmed by the probate court or in certain circumstances they do not have full authority and must have any offer confirmed by the probate court and leave open the possibility of over bids to the original offer.
Certain rules apply:
If you have any questions about buying or selling a home in a trust please feel free to contact me.
Keller Williams Realty