The process of reassigning a property to beneficiaries after a person dies is known as probate. When a person passes away, they leave their loved ones and their property behind. The person may or may not leave a last will or Testate behind.
Sometimes a question arises, “can a house be sold while in probate in College Station, TX?“, and the answer is that it can be sold, if simple steps are followed. As real estate investors in College Station, Texas Direct Home Buyers advises sellers to go through the following steps, and also suggests that other investors check the procedures when they go to buy property on probate period in College Station.
Can a house be sold while in probate in College Station, TX? Yes, but make sure to follow these steps first!
A property can be appraised with the assistance of an independent certified appraiser. To get an appraiser, you can look in the local phone book or simply contact a real estate agent for their recommendations.
As real estate investors, we look to buy probate properties in College Station, TX that have already sought property appraisal.
Obtain the Petition
Before you can sell a property during a probate period, you must seek approval from the probate court. To do this, you have to fill out a petition form, and also indicate the details of the property in College Station and the means of sale.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
Only properties with completed petition procedures are being bought by investors and we do look into the fact that the seller has gone through the process of obtaining the petition.
Place your Property for Sale
After completing the petition, you can go ahead and place the property for sale. However, you must inform the buyer that the property will only be sold once the probate court has confirmed it, since the property is on probation. All real investors only buy the property that is on sale after seeking court petition. We can buy your property once they have followed through with these conditions.
Seek the Court for Confirmation
As a buyer, you must confirm the sale of your property in court. Generally, hearings take place within a period of 20 to 40 days. Make sure you make necessary arrangements and collect 10 percent of the price from the buyer before the court begins the hearing. As investors ourselves, we tend to ensure that the seller seeks the court for the confirmation.
Advertise in Local Newspapers
You can inform people about your sale by placing it on local newspaper adverts. You should do this so that the populace can know about your property sale during the probate period. This will allow you to receive multiple bids from interested buyers and get a good price for your property. So if you are seeking to buy property on probate period in College Station, you can bid in the court hearings. We often come to know of good properties on probate through the local newspapers.
Attend the Hearing
As buyers and real estate investors, you should attend the hearing of the court, since this is the place where bids are done. After the bid has been won by a buyer, and an agreement has been reached, the court confirms the cashier’s check. If there is a new buyer, they refund the money of the previous buyer and take the deposit of the buyer after the confirmation has been given by the court. We tend to always pay some money as a deposit of the original price to the court after the contract has been confirmed.
After following the steps above, you can complete the sale to the buyer. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in College Station, then we can help.