Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away they usually leave their loved ones their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it is not. Whatever is the situation the property is reassigned to the heirs with the court of law and this extensive thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Houston, Texas?“, and the answer is that it can be sold if simple steps are followed properly. As real estate investors in Houston Texas, Fast Cash Offers advises sellers to go through the following steps and also suggests other investors to check the procedures when they go buying probate property in Houston.
Can a house be sold while in probate in Houston Texas? Yes, but make sure to follow these steps first!
With the help of an independent certified appraiser a property can be appraised. You can very easily look for an appraiser in the local phone book or looking after a real estate agent for recommendation. So as real estate investors, we look for buying property on probate in Houston TX that has already seeked property appraisal.
Obtain the Petition
When you are in the process of selling the property during probate period you have to seek for probation from the court. So fill up the petition form and provide all details related to the sale of the property in Houston while mentioning the methods of sale. Along with the guidance of an independent appraisal fill the form, then wait for the court’s approval in selling your property. An investor only buys a property that has already completed the procedures of obtaining petition, and we do look into it to make sure that the seller has gone through the process.
Place your Property for Sale
Next step is placing your property on sale. Be sure to inform the buyer about the matter that the property will only be sold after confirmation from the court as it is on probate. All real estate investors only buy probate property on sale when it has already sought court petition. If your property matches these conditions then we might be able to take it off your hands.
Advertise in Local Newspapers
Inform about the sale and advertise in local newspapers. This is done so that the public is informed about the sale of the property during probate period. It also allows open bidding for other interested parties so the property gets the best price. If you’re seeking to buy a property on probate period in Houston, you can also bid in the court hearings. We often come to know of good property on probate through the local newspapers.
Seek the Court for Confirmation
As a buyer you have to seek the court for confirmation to confirm the sale of your property in Houston. You have to wait depending on the pressure of the state court… Generally hearings take place within a period of 20 to 40 days. Before the hearing date, don’t forget to make arrangements and take 10 percent of the price from the buyer. As investors ourselves we tend to ensure the fact that the seller seeks the court for the confirmation.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are done and buyers and real estate investors come. After the final agreement is done the cashier’s check is given to the court when the bid is confirmed. If there is a new buyer, refund the money of the previous buyer and take the deposit of the new buyer after the confirmation has been given… We tend to always pay some money as deposit of the original price to the court once the contract has been confirmed.
After the above written steps, you can complete the contract with the buyer. Real estate investors look for property that follows all procedures and abides by the rules of the court.
If you’re looking for a REAL estate investor to buy your property in Houston, we can help!