Amy Clayton,…, Home Buyer in Valley Village, CA

What does it mean if a house is a Probate sale?

Asked by Amy Clayton, Psyd, Lcsw, Valley Village, CA Fri Apr 17, 2009

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To add to the previous post, if a house is a probate sale it usually needs court confirmation. Court confirmation means that the court will approve (or not) the offer you presented. Now if there are others at the courthouse that want the same property, you can and usually do get outbid. Many, many investors go to court confirmations and outbid the current bid. I hope this helps.

Good Luck,
Dyanna
1 vote Thank Flag Link Sat Apr 18, 2009
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.

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Paul Hargraves http://www.TrustPropertiesUSA.com
1 vote Thank Flag Link Fri Nov 18, 2011
To add to the previous posts, if a buyer does go to court to try and outbid the accepted amount, the bidding at the court house will start at 5% above the accepted offer. You really need to know the condition and comps for that particular house and be careful not to get caught up in the ebay mentality that so often happens with buyers when put in a bidding situation.
1 vote Thank Flag Link Fri Jul 2, 2010
Probate is the legal process by which property – owned by a person who had died – has been passed to his or her heirs after their death. So the house was owned by a person who passed away, and is being sold.
1 vote Thank Flag Link Sat Apr 18, 2009
Hi, Amy. Most, but not all, probate listings do require court confirmation for the sale. They also usually have a minimum down payment they require. Many probate listings are fixers and are sold AS IS.

Are you looking in Valley Village? I have listed and sold properties in Valley Village and lived there for over 8 years until a few months ago.

Please let me know if you have any other questions about probate or other real estate related questions. I'm here to help!

All my best,
Dot Chance
Keller Williams Realty
Studio City
818-339-7712
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Sat Apr 18, 2009
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