Probate Process

More about the Probate Process

Probate, Trust & Conservatorship Sales

Your Real Property Transactions Should Be Easy! Knowledgeable, experienced help can ease the burden of attorneys, conservators, administrators, accountants, trustees, other real estate agents, and of course, clients:

Reduce workload Increase client satisfaction Enlarge client profits on real property sales Streamline transactions and avoid delays Improve communication

Wally Malesh is knowledgeable and experienced with Probate Code, court-directed sales, Trust Sales, mandate disclosure requirements and offers.

  • Straightforward, non-technical counseling of agents prospective buyers on the offer process.
  • Accurate, on-time reports.
  • Stream communication between all parties. Network of qualified trained specialists throughout California.
  • Anticipation of problems that might cause delayed closing and the skill to counter them with swift solutions.
  • Knowledgeable handling of the offer process and all subsequent paperwork.

AS WELL AS…..

Our “Team” of cleaners, haulers, appraisers, contractors, landscapers, painters, etc., is available to help you with any “pre-marketing” work that you may need or desire. Our goal is to make it as simple and easy as possible for you throughout this process.

SELLING PROBATE PROPERTY – A TIMELINE
* Your attorney files the petition for your appointment as the estate’s personal representative.

Day 1 – The Probate Court issues Letters, your authorization as the personal representative.

Day 10 – Wally Malesh is selected to market the home.

Days 10-40 – An intensive marketing period occurs with our Plan of Action.

Day 40 – OPTION “A” – If sold under Independent Administration: Upon acceptance of an offer without Court Confirmation, if applicable, a typical 30-45 day escrow period follows. The successful bidder secures financing, executes proper documents, causes escrow to close, and approximately

Day 70-85 – The estate receives final sales proceeds.

OR

DAY 40 – OPTION “B” – If sold with Court Confirmation: Upon acceptance of an offer subject to Court Confirmation, a confirmation hearing date is set by the Probate. This normally occurs if there is fighting amongst family members.

Court (usually 30 days after this initial bid acceptance). On approximately Day 70, in person, the attorney reports to the open Probate courtroom and to the Probate Judge the Personal Representative’s willingness to accept the previously made bid. At the court hearing, the Judge then offers anyone present in court the opportunity to make a final, higher bid on the property. This is truly a live, in-court auction. At the conclusion of a back-and-forth auction, the final sales price and highest bidder are approved by the Probate Court. A typical 30-45 day escrow period follows. The successful court bidder secures financing, executes proper documents, causes escrow to close, and approximately Day 100-115, the estate receives final sales proceeds.

This represents a general timeline of marketing, sale, and closing escrow during Probate administration. Estate properties may sell and close escrow in as short as 30 days, or as long as, or longer than any other real estate sale. There is a wide range of flexibility associated with the sale of probate property not discussed here. Please call me for more information.

HOW LONG DOES THIS TAKE?

Managing-the-Sale-of-a-Probate 

Click here to learn more about the Probate Real Estate Sale Process

 

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McKeon And Associates Orange County Real Estate