Tips for Buying a Probate Property

After months of house-hunting, you’ve finally found the perfect home. There’s just one catch. The property is a probate sale. To maximize your chance to get the house of your dreams, you’ll need the help of an experienced probate real estate agent.  

Unlike a regular real estate agent, a probate real estate agent can ensure that you comply with requirements related to documentation, deposits, and deadlines unique to probate transactions.  

Getting the Answers You Need  

Your probate real estate agent will closely review the listing agents MLS remarks about the property and follow up with key questions such as:  

  • Is the property a court confirmation or a full authority? 
  • Has a court date been established? 
  • Has anyone died on the property? 
  • Will the tenant be out at the close of escrow, with his/her personal belongings removed? 
  • Is the estate willing to cover minor repairs? 
  • What amount is the estate requiring for an initial deposit? 
  • Is the estate willing to assist with the buyer’s closing costs? 

Making an Offer 

An experienced probate real estate agent will help you put together a successful offer. He or she will find out from the listing broker how offers should be submitted, what the selection criteria will be, whether there are any special escrow processes or time constraints/restraints, and any details regarding title preference. 

Once Your Offer Is Accepted 

Once the estate has accepted your offer and you enter escrow, your probate real estate agent can help you complete contingency measures, such as: 

  • Professional home inspection — please note that some estates will prefer to sell their probate property “as is” and will refuse an inspection 
  • Title Review  
  • Insurance coverage 

After these final steps have been completed, a closing date can be scheduled with the estate and you can move towards completing the sale and eventually moving into your dream home! 

Nicholas Realty Is Ready to Help  

At Nicholas Realty, we have more than 20 years of probate real estate expertise. We have experience working with probate attorneys, as well as with escrow and title companies handling probate sales. We understand the unique terms of the Probate Code and ensure that your purchase complies with its requirements. When you engage our services, you get the benefit of our extensive probate real estate knowledge, and our full support throughout your real estate transaction. 

Learn more about the processes and requirements involved in real estate transactions — including how to buy probate listings in California — with me, Nick Caudillo. Call 866-917-4001 or email nick@nrprobate.comFor services and guidance from a top-rated real estate professional serving the Los Angeles, Orange Co., San Bernardino, and Riverside areas.

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