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Full vs. Limited Authority - The Difference

This document determines the power of the Personal Representative and ulitimately determines the roadmap for selling the estate's real property.
The sale of real property is allowed without court supervision, however, there are some requirements of the court that differentiates it from a standard sale. Typically occurs around month #2
The petitioner should interview several qualified agents and then choose the one they are most comfortable with and confident in. This is an important step because errors are more costly in probate. Typically occurs around month #3
A list price should be determined in order to maximize value to the estate. The parties should then execute a Listing Agreement pursuant to CA Probate Code. Typically occurs around month #3
Market Property
Probate Purchase Agreement
The listing agent should then undertake a tailored marketing plan. All offers should then be submitted via Probate Purchase Agreement (PPA). Typically occurs betwen month #3-5
Once an offer is accepted, certain parties must be notified of the sale via a "Notice of Proposed Action" to show none of the parties contest the sale. Typically occurs betwen month #3-5
After the notice period, the parties can close escrow. Note: a Full Authority Sale is a more streamlined and simplistic process than Limited Authority.
The sale of real property requires court supervision, which includes adhering to the below steps. Typically occurs around month #2
The petitioner should interview several qualified agents and then choose the one they are most comfortable with and confident in. This is an important step because errors are more costly in probate. Typically occurs around month #3
A list price should be determined and then a Listing Agreement should be executed. Note: the final sales price must be within 90% of its appraisal value (set by Probate Referee). Typically occurs betwen month #4-5
During the marketing phase, a "Notice of Sale" of the property must be published at least 3 times over a period of not less than 10 days before the sale, with a third publication at least 5 days after the first. Typically occurs betwen month #5-7
Once an offer is accepted, the estate's representative must report the sale and petition the court for confirmation of the sale within thirty days of accepting an offer. Typically occurs betwen month #7-9
After accepting an offer, the estate's representative must notified certain interested parties prior to the Court Confirmation Hearing. Typically occurs betwen month #3-5
At the hearing, the sale is subject to overbidders who also want to buy the property. They must bring a cashiers check of at least 10% of the min. bid amount. The final sale is made with no contingencies. Typically occurs betwen month #9-11
15 days after Court Confirmation of the final sale amount, the Court will issue an Order Confirming the Sale and escrow can then close. Typically occurs betwen month #9-11
A Limited Authority Sale is the more complex and convoluted when selling real estate in probate. Typically occurs betwen month #10-12

Testimonials

  • “Attorney’s themselves, The CREM team had the process dialed. After an unexpected family loss, we were in no condition to handle such a complicated transaction. From the very beginning, they laid out the process of the sale, their strategies to get it sold for the highest price and executed each phase just as discussed. Professionalism at it’s finest.

    Frankie C.

  • “Attorney’s themselves, The CREM team had the process dialed. After an unexpected family loss, we were in no condition to handle such a complicated transaction. From the very beginning, they laid out the process of the sale, their strategies to get it sold for the highest price and executed each phase just as discussed. Professionalism at it’s finest.

    Frankie C.

  • “Attorney’s themselves, The CREM team had the process dialed. After an unexpected family loss, we were in no condition to handle such a complicated transaction. From the very beginning, they laid out the process of the sale, their strategies to get it sold for the highest price and executed each phase just as discussed. Professionalism at it’s finest.

    Frankie C.

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