Probate/Trust Sale Services in California

Probate/Trust Sale Services

The team is well versed in the intricacies and procedural requirements involved in the sale of property during Probate, Trust and Conservatorships in Los Angeles, Orange, Riverside and San Bernardino counties. With previous backgrounds as attorneys, we have an innate ability to anticipate, simplify and execute purchase and sale transactions bringing immense value and peace of mind to all parties involved.

In-House Eviction
Counseling

As both Attorneys and Realtors, we have the unique ability to handle evictions and other legal matters related to your property directly as an ancillary service to selling your property. This service translates to equitable value to the

estate by cutting the need to hire outside counsel.

Equity Enhancement
Program

All to often, real property sold during probate is sold in fair to poor condition, typically “leaving money on the table” where the estate could have netted more from the sale. In creating a win-win scenario for our

clients, we offer a solution (“Equity Enhancement Program”) where the estate can realize more money from the sale without having to invest any money out of pocket. In short, The CREM Group will facilitate (and pay for) repairs and improvements to the property in order to attain a higher sales price. All enhancement funds are fronted, interest-free to the estate with all renovation work managed from bid to completion; a win-win for the estate.

10 Point
Marketing Strategy

Your property, across all platforms. Leaving nothing out, we develop a comprehensive and unique digital, print, and grassroots marketing approach, maximizing visibility to investors, brokers and retail buyers alike.

Bespoke Staging
& Design

First impressions are everything for buyers. Utilizing furniture that accentuates the warmth and flow of your home can mean all the difference.

Our preferred vendors will coordinate and execute a custom furniture package to meet your needs and budget.

Property Inventory
& Hauling

All too often, probated properties contain a lifetime of valuables. At the request of the Seller, our team can handle the inventory, storage, sale, and donation of any items left at the property belonging to the estate.

Comprehensive
Property Oversight

With a portfolio of over 200 properties under active management, our team can manage the property from list to sale, inclusive of all utility, upkeep, and bill payment. Weekly inspections, security measures, and comprehensive inspections insure that each home is maintained and safe throughout the sale process.

An overview of what to expect while selling real estate during probate.

Having questions? Contact Us

Probate Process Overview

Probate Real Estate Sale Overview

PHASE

#1

Appointment
Phase Months 1-2

Start
File Petition for Probate

Notice of 1st Court hearing date published in newspaper.

5-6 Weeks
Hearing Date

2 Months
Letters Issued By Court Order for Probate Duties & Liabilities Issue Bond

PHASE

#2

Administrative
Phase Months 2-9

Gather assets
File Inventory & appraisal form
Notice to creditors
Allowance/rejection of creditors claim

Months 3-6
Full Authority Sale (IAEA) - Interview qualified probate agent/broker - Determine list price (no court limitation) - Execute listing agreement - Market the property - Execute probate purchase agreement (acceptance of offer) - Distribute Notice of Proposed Action - 15 days - Open Estate Bank Account - Close Escrow

Months 6-12
Limited Authority Sale (IAEA) - Interview qualified probate agent/broker - Determine list price (according to 90% Rule) - Execute 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

PHASE

#3

Close
Phase Months 9-12

9 Months
Petition for Final Distribution

10 Months
Court Hearing

1 Year
Receipt on distribution

CASE CLOSED

Full vs. Limited Authority - The Difference

Letters Issued by the Court

This document determines the power of the Personal Representative and ulitimately determines the roadmap for selling the estate's real property.

Full Authority (IAEA)

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

Interview Agent/Broker

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

Determine List Price,
Execute Listing Agreement

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

Accept Offer,
Notice of Proposed Action

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

Close Escrow

After the notice period, the parties can close escrow. Note: a Full Authority Sale is a more streamlined and simplistic process than Limited Authority.

Limited Authority

The sale of real property requires court supervision, which includes adhering to the below steps. Typically occurs around month #2

Interview Agent/Broker

Determine List Price (90% Rule),
Execute Listing Agreement

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

Market Property, Notice of Sale, &
Probate Purchase Agreement

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

Accept Offer, Report of Sale, &
Petition for Order Confirming Sale

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

Notice to Interested Parties

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

Confirmation Hearing, Over-Bidding
Process (10% min. overbid deposit)

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

Court Order

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

Close Escrow

A Limited Authority Sale is the more complex and convoluted when selling real estate in probate. Typically occurs betwen month #10-12

Probate Practioner Partners

Trusted Partners Bringing the Utmost Value and Experience to Your Estate

KEITH J. MOTEN

Attorney at Law

Moten & Associates

355 S. Grand Ave., Suite 2450 Los Angeles, CA 90071

Phone
(213) 943-1466
Fax
(213) 943-1467

HANS STONE

First Choice Loan Services / Branch Manager

Office
(562) 999-2684
Email
Fax
(714) 644-8228
website
hansmortgage.com

NMLS#237063

Douglas M. Smaldino

CPA | President / Mortgage Loan Officer

Cell
(323) 707-3200
Direct
(323) 522-1040
Office
(323) 522-1020
website
hillhurstmortgage.com
Email
doug(at)hillhurstmortgage(dotted)com

NMLS# 340464 | Cal BRE# 01149672

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.

Header

Main Content

PROBATE/TRUST REAL ESTATE SERVICES