A probate sale starts when someone passed away whether there is a will or not. One way to bypass a costly and lengthy process, is to have a living trust. Probate fees including referee fees, court costs, and attorney costs can take away 6% of the total estate value: real estate, personal items, cars, boats, bank savings, securities, retirement funds...One can proceed with the probate sale by oneself. The court clerk will give you all necessary forms to fill out. One will need to publish notice to creditors. If there is a will and there is real estate involved, the executor can request to be nominated under the California Independent Administration of Estate Act, so the property does not have to go through the court confirmation process, saving time and money. Just list and sell it as any other homes. The executor can accept the best offer, sign and close like any real estate transaction without the requirements for real estate transfer disclosure. As a precaution, the administrator or executor just needs to have other heirs sign a waiver on a notice of proposed action.
I am a real estate broker specializing in probate properties in CA. I also have a network of attorneys specializing in probate and estate planning to refer to if the probate case is complicated with infighting among heirs and potential heirs. Otherwise, if the estate just needs liquidity to tidy over for during the probate process, I have access to funding sources.
Sincerely,
Shawn Luong
626 643-7090
shawn@shawnluong.com

Don't let buyers STEAL your family home. At no upfront cost to the estate I have sold over 200 Probate & Trust estates using our proven "Fix & Sell" strategy to sell your home for a top top fair market price.

I invite you to visit our website to see our many Before & After estates.

Sincerely,
Paul Hargraves http://www.TrustPropertiesUSA.com

The probate sale in California is a simple but lengthy process. When someone dies and the estate or whatever the asset is needs to be liquidated the Executor of the will can accept the best offer and the buyer can proceed with a due diligence / contingency period wherein they are still able to do their own investigations regarding the property. Upon the release of all contingencies the Executor of the estate will set a court date if the property is subject to a court hearing. At the court proceeding the property is subject to an overbid scenario wherein another buyer can come in and purchase the property contingency free on the spot. According to California real estate law, the minimum overbid amount must be 5% over the price that was accepted initially plus $500. Sometimes probate sale court dates will be published in the paper for a period of time before the court date.

A probate sale takes place when there is a death and no will is in place. Unfortunately, this is a costly way to do things, and often eats away at the equity in a home. In addition to being costly, probate takes quite a while to get things done. The property is turned over to the state, and they can take as much time as they want to get around to getting a property sold. Nothing can be done without the permission of the court. Expenses are billed to the estate, and time slowly ticks by while family members have to wait to get any monies that might be left. I have worked on a number of probates, and I have seen them often take 2,3 or more YEARS before the property can be sold! If nothing else, people should look at this and take the time and effort to get a will done. As an estate attorney I know says- If you don't have a plan, the state does! Get that will!

If you should have any needs in getting a probate home sold in San Diego County, please give me a call, I am happy to help.

Sincerely,
Patti Phillips
Encinitas, CA
800-680-9133
President, N. San Diego County Women's Council of Realtors

The home and other property is taken over by the state, and thus a judge, to determine the distribution of the proceeds of the sale of the items either because the owner did not have a will at all, the legality of the will is being questioned or because the heirs are disputing the distribution of the proceeds as stated in the will.

Hi Luis,

In simple terms, a probate sale is a real estate sale triggered by the death of the owner, with proceeds to be divided among heirs or creditors. There is what can sometimes be a lenghly process that Probate Court will follow (see below). Often times these are all addressed prior to the marketing of the home.

-proving the authenticity of the deceased person's will
-appointing someone to handle the deceased person's affairs
-identifying and inventorying the deceased person's property
-paying debts and taxes
-identifying heirs, and
-and lastly, distributing the deceased person's property according to the will or, if there is no will, according to state law.

Melissa Mancini, Realtor, CBR, GRI