http://www.realtorharb.com/probate.htm

This is a long answer ;-)

Fri Apr 18 2008, 18:53

Hello Sandra,

Trust sales with court confirmation that the estate is being probated. Sure the price is negotiable. You would put in an offer. If the estate accepts it you would open escrow just like a normal purchase. It's best to have an agent on your side to negotiate this for you. You usually need 10% deposit (earnest money) to put an offer in on a property that has court confirmation. I have seen this waived though. It depends on the attorney and if the trust agrees to it. During the escrow period you do your inspections like normal. At the hearing there is a chance that other people might bid on the home. The minimum over bid amount is usually 5% over the accepted asking price. The people (if any) that overbid on the house must bring cashiers checks or cash of 10% of their overbid amount. If they win it in court via bidding you are no longer in escrow and would lose any money you paid for inspections or appraisels.

Best,

Monique Carrabba

Mon Mar 17 2008, 20:53

Sandra, probate sales are trust sales that usually require court confirmation. You usually have to overbid the amount they say is acceptable. It usually requires 10% deposit money payable by cashiers check or money order and can be held until the court date. You need a realtor to help you with this.

Sun Mar 16 2008, 19:11

trust sale and trustee sale are different.
google them
live and learn.

Fri Mar 14 2008, 14:19