Home Buying in Needham>Question Details

Lyn, Home Buyer in Needham, MA

What is meaning of term "subject to license to sell"?.?

Asked by Lyn, Needham, MA Tue Sep 9, 2008

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Usually it means it is an estate sale and they are waiting for the court to authorize the sale. they may have to approve probate, or approve the trustee of the estate. they could word it better though... hope this helps
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Sep 9, 2008
The home is an estate and the deal must be presented and approved by a judge to proceed. In this market not many judges would gum up the works, but it is another step that can add a few weeks to the deal.
0 votes Thank Flag Link Mon Aug 29, 2011
A license to sell is necessary to actually sell a property if it is an estate sale.
0 votes Thank Flag Link Tue Jul 21, 2009
Subject to License to sell is for an estate sale. The family members need to obtain a license to sell through the court systems. The purchase agreement must indicate this as one of the terms and conditions.
0 votes Thank Flag Link Thu Sep 11, 2008
Hi Lyn,
The first two are correct. Most of the time, things are very close to being set up or the home would not be on the market yet. This is the reason for the 7 days.
0 votes Thank Flag Link Tue Sep 9, 2008
Hi Lyn,
Scott hit it right on! There are steps that need to be taken legally before you can sell an estate property. Avoiding this step is one of the primary reasons for creating a trust for your property.
0 votes Thank Flag Link Tue Sep 9, 2008
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