Probate Real Estate in Southern California
Purchasing real estate through the probate process can be a very advantageous way for investors to acquire valuable pieces of real property. Having a Certified Probate Real Estate Specialist by your side to guide you through the probate process in Orange County & LA County can be very rewarding.
What is a Probate Sale?
A home is sold in probate court when someone dies intestate or without disposing their property. When that happens, the state takes over and administers the property’s sale.
In a probate sale, the property is marketed just like any other property. The probate attorney or the estate representative will hire a local real estate agent, sign a listing agreement, and show the property, just as they would a traditional listing.
An interested buyer can make an offer on the property at any time. However, in the case of a probate sale, the offer must be accompanied by a 10% deposit. The estate representative will then accept or counter the offer, just like any other sale.
In most cases, the offer is subject to the court’s confirmation. Even though the seller may have accepted a buyer’s offer, the seller is not committed to that buyer or their offer. The estate representative, through their probate attorney, will then petition the court to confirm the sale. A future date is chosen for the sale to be confirmed in the court (usually 30-45 days).
How to Locate Probate Properties for Sale in Southern California
The team at Prime Probate can assist you in finding probate properties all over Southern California. Contact us by phone or email, and we will guide you to Probate Properties currently listed for sale.