4 Expert Advice on Managing Probate Sales

A comprehensive guide to handling probate sales when a loved one passes.

When a loved one passes, an equally hard thing family members have to address is probate or trust sales. Probate, simply put, is the legal process where a deceased person’s assets are distributed to the rightful heirs. This sounds simple, but in reality, it is far more complicated. Today, I will share four things you need to do during the probate sale process:

1. Work with the right professionals. At a time of grief, you need to work with the right probate attorney and real estate agent. They will help you through the difficult sales process during a challenging time for your family. An experienced agent like myself has a fully operational team that ensures every detail goes well. This requires tact and wit, as administrators have to spot bargain hunters looking for a low deal. It’s important to know that administrators have a fiduciary duty to sell the property at the highest possible value which can only be possible by listing the property in the open market.

2.Secure the property. This will be a hard reality for you to bear, but when someone passes, people who have access to the home will scramble to take items or furniture belonging to the deceased, such as caregivers, roommates, relatives, and friends. This will be hard for you to do, but you need to put up security measures to prevent any items from being taken. Change the locks, install a CCTV camera, and ask a trustworthy neighbor to keep an eye on the property. If tenants or family members are living there, you will need to honor pre-existing lease agreements. But if you can’t locate the document, you can let the tenants begin moving out, or at least secure a written agreement of what will happen to them.

“Probate sales are more complicated than it seems, but partnering with the right professionals will help you manage it successfully.”

3.Check for liens. Another thing to keep in mind is to check for any liens against the property. Take a look at the preliminary title report to find any unsettled bills like reverse and regular mortgages, utilities, solar liens, and the like. While this won’t lead to immediate foreclosure, some banks are quick to take action. However, once they learn that the property is about to be sold, they’ll hold off any legal action.

4. Clear out and sell. Lastly, you need to clear out the home to prepare it for sale. Smaller items can be sold easily, but bulky items like some furniture will require a specialty company. If you can’t make arrangements to clear out the home, you can sell it as is, but you will have to sell it at a lower price.

Probate or trust sale can be a lot of work. If you are in someone’s will or trust as an administrator, it’s best to talk to them to know more about their wishes. If you’re in this situation or you know someone who is, please feel free to reach out to us by phone or email. Just call 951 264 7544 or email [email protected]. We’ll be happy to help make this process easier for you.