When a loved one passes, it’s easy for a family to feel overwhelmed by the legal and financial affairs that must be addressed. And if the deceased has not left a will, his or her heirs will need to oversee “probate” — a legal, court-supervised process that ensures property and possessions are given to the proper beneficiaries, and any taxes or debts owed are paid in full. While probate issues can be daunting, managing them is much easier with the help of a real estate broker who specializes in probate.
Why bring in a real estate agent with probate expertise? First of all, in many cases, the probate procedure is more complicated than the average real estate transaction. Selling real estate through probate or trust involves specific court-regulated steps that takes specialized expertise to execute properly.
In addition, there can be a number of parties involved in the sales process, including court personnel, the estate’s executor or administrator, potential buyers, the real estate agents for those buyers, the seller’s attorney, and the seller’s real estate agent.
A real estate agent with special expertise in probate understands how to work with all parties, is familiar with court requirements, knows what special documents and contracts are required, and ensures that critical timelines and deadlines are met. You might also want an agent with a Certified Probate Real Estate Specialists (CPRES) designation. In order to receive this certification, an agent must pass a test that measures his or her ability to successfully manage probate property sales procedures.
In addition to making court appearances, a probate real estate agent can help manage leases and code enforcement issues, ensure building/safety requirements are met, and engage qualified specialists on your behalf (e.g., attorneys for eviction services) when needed.
By contrast, a regular real estate agent may not be knowledgeable about probate procedures or what specific documents are required when conducting a probate sale. And if that agent makes mistakes during the probate process, your probate hearing may end up being rescheduled, which can mean a delay of weeks or even months before closing the estate. Those mistakes can cost you both time and money.
At Nicholas Realty, we know firsthand what a difference probate real estate expertise can make when selling a loved one’s home. We understand the ins and outs of working with attorneys and courts, as well as with escrow and title companies involved with probate sales. We’ve been helping families with probate sales for over 20 years, serving as a trusted advisor and providing peace of mind through what can be a complex, intimidating experience.
Learn more about the processes and requirements involved in probate real estate transactions — including how to buy probate real estate in California — with me, Nick Caudillo. Call toll free 866.917.4001 or email nick@nrprobate.com for services and guidance from a top-rated real estate professional serving the Los Angeles, San Bernardino, and Riverside areas.
