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Probate real estate transactions can be complicated and intimidating. Even experienced executors can face delays, disputes, and legal difficulties. Understanding the probate process and following significant steps could mean the difference between a smooth transition and a drawn-out legal struggle. Let’s look at how the probate real estate process can help you increase the value of your house and avoid typical mistakes to protect your family’s financial future and honor your loved one’s legacy.
What is probate? Probate is a legal process for confirming a will and distributing the assets of a deceased loved one. According to the American Bar Association, probate can take six months to more than a year, depending on the complexity of the estate, state laws, and the executor’s authority. Even if you have a will and everything’s in order, the probate process can still take up to eight months.
I always stress the importance of proper estate planning with my clients. Having a will or, better yet, a living trust can greatly simplify the procedure. A living trust has many advantages over wills since it allows your beneficiaries to avoid probate court completely. This means faster access to their inheritance and less stress during an already difficult time. If you are thinking about making an estate plan, I recommend you talk with an attorney to see if a living trust is the best option.
Now that you know what probate is, I’ll share my three-step approach when selling probate real estate:
- Find the right Realtor. Having a qualified Realtor who specializes in probate sales is valuable. We understand the unique legal and logistical requirements and can guide you through the entire process. Also, studies show that homes sold through a Realtor sells for a higher price, which benefits the beneficiaries.
- Create a plan. Once we’re on board, we will closely work with you and your estate attorney to create a personalized plan. This includes doing a thorough property inspection and obtaining a preliminary title report to identify any problems early on. We’ll determine the best course of action based on the property’s condition and your goals, whether it’s to sell as-is, make minor repairs, or do a full remodel.
- Execute the plan. Once you have court approval, it is time to put the plan into action. We’ll manage everything from cleaning and repairs to staging and marketing, ensuring the home is shown in the best light to attract buyer interest. Remember that even slight improvements may greatly increase the sale price.
How to Increase Your Home’s Value With Less Stress
In my experience, investing in low-cost, high-impact home improvements almost always pays off. Consider decluttering, painting, and minor repairs. However, if the estate’s primary goal is a quick and easy sale, selling as-is or directly to an investor is a viable option.
Our goal is to help you comfortably manage the probate process while maximizing the value of your loved one’s estate. I’m here to answer your questions and share my knowledge with you. Contact us by phone at (215)669-6285 or dianeandteam@cardanohomeservice.com, and we’ll assist you with your real estate needs.
Want to work with us? Here are some ways to get involved.
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Home Buying Consultation. Schedule a time with me for a home buying consultation.
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