What is a probate sale in real estate?
What is a probate sale in real estate? Whether you’re looking for the perfect home or an investment opportunity, finding the ideal property in the right place at the right time is a challenge. You may come across homes in foreclosure or probate with lower pricing than comparable property—either noted as such or with an “as is” designation. With probate sales, there are drawbacks that weigh against the savings: time, uncertainty, and higher risk to the buyer. However, with the right probate REALTOR® on your team, you can end up with a property surpassing your expectations. In this guide, we’ll explain the ins and outs of the probate process. What is a probate sale? When someone who has individually owned assets dies, their estate generally goes through probate. This is a legal process that requires oversight by a probate court to ensure that the deceased’s debts are paid and the remaining assets are distributed properly to heirs. What does probate mea...