SELLING REAL ESTATE DURING PROBATE
the Process
Appointment Phase
Months 1-2
Start
File Petition for Probate
Notice of 1st Court hearing date published in newspaper.
Hearing Date
Letters Issued By Court
Order for Probate
Duties & Liabilities
Issue Bond
Administrative Phase
Months 2-9
Full Authority Sale (IAEA)
- Interview qualified probate agent/broker
- Determine list price (no court limitation)
- Execute a listing agreement
- Market the property
- Execute probate purchase agreement
(acceptance of the offer) - Distribute Notice of Proposed Action – 15 days
- Open Estate Bank Account
- Close Escrow
Limited Authority Sale (IAEA)
- Interview qualified probate agent/broker
- Determine list price (according to 90% Rule)
- Execute a listing agreement
- Market property
- Notice of Sale
- Execute probate purchase agreement (acceptance)
- Report of sale & petition for Order Confirming Sale
- Notice to buyer, beneficiaries, interested parties
- Court hearing and over-bidding process (10% min. overbid deposit)
- Court order
- Close escrow
Close Phase
Months 9-12
Petition for Final Distribution
Court Hearing
Order for Probate
Duties & Liabilities
Issue Bond
Receipt on distributioN
CASE CLOSED
*These timelines are intended to be rough estimates and can vary depending on a number of variables.
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