Probate is an extensive legal process that takes place after someone passes away. It includes:
- Giving recognition to the last will or Testate (if there is one)
- Appointing an executor or personal representative
- Taking inventory of the deceased person’s property
- Paying debts and taxes
- Reassigning the estate and assets to the beneficiaries
If there is no last will, state law will direct how the property is reassigned.
In this situation, you may end up thinking, “Can a house be sold while in probate in Miami, Florida?“
The answer, YES. But, only if you follow these simple steps. As real estate investors in Miami, Florida, our company – Sunshine State Buyers – advises that sellers carry out the following steps. We also recommend that other investors should take a look at the procedures when buying a Miami property in probate.
Can a house be sold while in probate in Miami, Florida?
Yes! Just Follow These Easy Steps.
As Real Estate Investors, we purchase properties all over Miami, Florida, and the surrounding area. When we consider buying a “probate” house, we only look at those that have sought property appraisal. A property can be appraised easily with the help of an independent certified appraiser. Just look for an appraiser in the local phone book, or you can call a Real Estate Agent to see who they recommend.
Obtain the Petition
If you wish to sell your Florida house during the probate period, you must seek probation from the court. First, you need to fill out your state’s petition form, providing every detail related to the sale, including how you plan to sell the property in Miami. You will need the help of an attorney to gather up all the required documentation, such as the death certificate and original will, etc.
You must file the petition quickly; otherwise, you could be waiting months for a court date to be set. Once you’ve sent off the form, simply wait for approval from the court.
Investors will only purchase a property (during probate) that has already completed this petition procedure. At Sunshine State Buyers, we also look into whether or not the seller has followed the petition process.
Place your Property up for Sale
The next step is getting your property on the market. Remember to inform any potential buyers that the property in question is on probate and can only be sold after receiving confirmation from the court. You must file your state’s petition forms with the court. Reputable investors, ourselves included, will only purchase homes if the above conditions have been met. If everything is in order, then we might be able to save you time and take the property off your hands. We buy Florida houses in CASH and FAST.
Seek Confirmation from the Court
For the sale to be confirmed, the court requires the buyer, plus any other interested party, to come to court and confirm the sale of the property. Generally, hearings take place with a period of 20 to 40 days. Sellers, please remember to procure a 10 percent deposit of the agreed sale price from the buyer before the date of the hearing. As investors ourselves, we prefer to make sure that every seller we work with confirms the sale with the court.
Advertise in Local Newspapers
List your property in the newspaper. This is a quick and easy way to inform the general public that you are selling a house during the probate period. It also allows other interested parties to bid openly on the property, ensuring that you get the best price possible. As a buyer, you should know that you can bid on a property during probate in Miami at the court hearing. At Sunshine State Buyers, we often learn about great “probate” properties through the local newspaper.
Attend the Hearing
Attend the court hearing. This is where both independent buyers and real estate investors come to bid on a property. Once the auction is over, and the final bid has been confirmed, the cashier’s check is then given to the court. If your buyer was outbid refund their deposit. You can only accept a deposit from the new buyer once confirmation from the court has been given.
After all the above steps have been followed, you can finalize the contract with the buyer. Reputable real estate investors will look for properties that have followed all the necessary procedures and abided by the rules of the court.
If you’re looking for a reputable house buying firm to purchase your property in Miami, then we can help.