Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away, they leave their loved ones and 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 Roanoke VA?“, and the answer is that it can be sold if simple steps are followed properly. As real estate investors in Roanoke VA, Quick Fix Real Estate® LLC advises sellers to go through the following steps and also suggests other investors check the procedures when they go for buying property on probate period in Roanoke.
Can a house be sold while in probate in Roanoke, VA? Yes, but make sure to follow these steps first!
With the help of the independent certified appraiser, a property can be appraised. You can very quickly look for an appraiser in the local phone book or ask a real estate agent for a recommendation.
Obtain the Petition
When you are in the process of selling the property during the probate period, you have to seek for probation from the court. So fill out the petition form with the help of the independent appraisal, and provide all the details related to the sale of the property in Roanoke along with mentioning the methods of purchase. Then, turn in the form and wait for the approval from the court for selling your property. An investor only buys the property that has already completed the procedure of obtaining the petition, and we do look into the fact that the seller has gone through the process of getting a petition.
Place your Property for Sale
Next step is placing your property on sale. Be sure to inform the buyer about the way that the property will be sold only after confirmation from the court as it is on probate. All real investors only buy the property that is on sale after seeking a court petition. If your property matches these conditions, then we might be able to take it off your hands.
Seek the Court for Confirmation
As a seller, you have to seek the court for confirmation to confirm the sale of your property in Roanoke. You have to wait, depending on the pressure of the state court. Generally, hearings take place within a period of 20 to 40 days. Please do not forget to make an arrangement and take 10 percent of the price from the buyer before the date of hearing from the court. As investors ourselves, we tend to ensure the fact that the seller seeks the court for the confirmation soon.
Advertise in Local Newspapers
Inform about the sale and advertise it in local newspapers. This is done so that the public is informed about the property sale during the probate period. It also allows open bidding for the other interested people so that the property gets the best price. So if you are seeking to buy property on probate period in Roanoke, you can bid in the court hearings. We often come to know of suitable property on probate through the local newspapers.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are made, and buyers and real estate investors come for bidding. After the final agreement is done, the cashier’s check is given to court after the bid is confirmed. If there is a new buyer, refund the money of the previous buyer and take the deposit of the buyer after the court has given the confirmation. We tend to always pay some money as deposit of the original price to the court after the contract has been confirmed.
So after this, you can complete the contract with the buyer after the above-written steps. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Roanoke, then we can help.