Is it possible to buy a property while it is going through probate? How do you do this?

Asked by Stephanie, Los Angeles, CA Tue Apr 15, 2008

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Cameron Platt, Agent, Oakland, CA
Tue Apr 15, 2008
Properties are often sold during the probate process. If the estate is subject to the Independent Administration of Estates Act (IAEA), there may be no court confirmation required -- otherwise, there will need to be a hearing where a judge will approve the purchase price (and solicit overbids -- yikes!). Another thing to consider is that the disclosure requirements for a property sold in probate are quite different than a traditional sale; the sellers are not subject to the same disclosure requirements as a traditional seller.

I would suggest speaking to a REALTOR who has prior experience with buying and/or selling probate properties, as they will be better equipped to help you navigate this unfamiliar terrain. A local estate planning attorney should be able to provide a good referral. I would be happy to provide one in your area as well if you like.
1 vote
Ron Deutsch, , Los Angeles, CA
Wed Apr 30, 2008
I couldn't agree more. The Sanborn team is the best: not only LA's leading probate experts but consumate agents all around.
Web Reference:  http://rd.la
0 votes
Jodie Franci…, Agent, Studio City, CA
Wed Apr 30, 2008
Hi Stephanie,

Nancy Sanborn who just answered your question is probably the most knowledgeable probate specialist I know...you will be in great hands if you have her helping you. She is a wealth of information and a great person...good luck to you!

Jodie
0 votes
Nancy Sanborn, , Greater Los Angeles Area
Wed Apr 30, 2008
The Sanborn Team has specialized is selling properties in Probate and Trust in the greater Los Angeles area for over 21 years. We are familar with the ins and outs of both buying and selling properties that are in probate.
"Going through probate" is a process and there are many different stages. We would be better able to assist you if you could provide us with more information so we could determine which stage of the probate the property is currently in. I would encourage you to visit our web site where there is additional information http://www.sanbornteam.com or call us directly at 310-777-2858
































































































































































































































































































































































































































































































































































































































































or you c




















































tly at 310-777-2858
Web Reference:  http://www.sanbornteam.com
0 votes
Laarni G. Om…, , Orange County, CA
Tue Apr 15, 2008
Hi Stephanie,

Yes, you can . If this is an on-going probate, find out from the County Court who the executor is and when is the court date to sell this property. Better yet, find a very good agent to handle the leg work fo you.

All the best,

Laarni
0 votes
Liz Hoffman, Agent, Daphne, AL
Tue Apr 15, 2008
You can discuss this with the executor of the estate. If property is listed with a Realtor, it may be listed with the contingency that it will be sold once the property is out of probate. You will-most likely-not be able to close while the estate is still in probate, but can find out from the executor who will be handling the sale, and work with them to negotiate details so that you can arrange a quick closing once the property becomes available.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more