Are the price and terms of a probate real estate sale are dictated by the courts? Under the IAEA, when the personal representative has full authority to administer the estate, the personal representative determines the terms and the price. Court supervision isn’t required in the sale. Court supervision also isn’t required during the overbid process under IAEA.
See, that law requiring the price of property to be set at at least 90 percent of the appraised value isn’t applicable under the IAEA. That doesn’t mean the personal representative can sell the property really cheap to an old buddy though. See, the personal representative does have a legal duty to all of the heirs and beneficiaries to get the most out of the estate’s assets. So, the price and terms aren’t set by the court, but the personal representative still has the fiduciary responsibility to make sure that the real property sells for as much as possible.
Do You Need A California Realtor Specializing In Probate?
We are experts in the probate sale under the probate code and trust law. So, we know the California Probate Code. We won’t let you get lost in it. If you need a realtor in California specializing in probate, please contact us today! We are upfront and honest about the costs of probate. Everyone wants to know about probate fees, but no one wants to talk about them. We will though. Sentinel Realty Partners wants our clients to be fully prepared and fully informed about buying or selling California probate real estate.
We have a list of the absolute best probate lawyers in California available for our customers. Plus, we also have relationships with the most vetted contractors, plumbers and electricians in California. See? We will guide you through every step of the process of selling (or even purchasing) a home involved in probate.
If you are buying a home in California, please have a look at our probate property search. If you need a Los Angeles, Orange County, Riverside, or San Bernardino professional to help you through the probate real estate maze, call us! These waters a murky, and you’ll want a knowledgeable, dependable, responsive team behind you. Check out Sentinel Realty Partners’ client reviews.