We Buy Houses In Upper St Clair, Pennsylvania. After facing the loss of a loved one who didn’t have a will or investments protecting against the process altogether, to sell a probate property can mean long drawn out proceedings, especially with larger estates. As homebuyers in Pennsylvania, we will help you learn how to sell a probate property here in our most recent post!
It can be costly to go through, so avoid making the mistake of skipping any of the legal requirements which can further tie up your property. You’ll need to be patient as the assets of the deceased are analyzed and the rightful inheritors of the estate are determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds evenly among those beneficiaries.
Should you find yourself in this position, read on for information on how to sell a probate property in Upper St Clair PA. Certain aspects of this real estate law are common among all jurisdictions, for a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property and get the cash for houses in Upper St Clair that is fair for you.
How To Sell A Probate Property In Upper St Clair PA
Certified Appraiser In Upper St Clair
Your first step will be to locate an independent certified appraiser. You can either reach out through phone listings or word of mouth among probate property real estate professionals in Upper St Clair PA.
Petition In Pennsylvania
After obtaining a certified appraisal for the probate property in Upper St Clair PA, the next step is to file a petition with the court to initiate the sale process. When filling out the petition, ensure that all relevant information about the property is included, along with details regarding the intended method of sale, such as an auction or listing on the open real estate market. Submit the petition along with the certified appraisal to the court. Once you receive the court’s approval, you can proceed with the sale according to the approved method. It is important to follow the proper legal procedures to ensure a smooth and lawful sale of the probate property.
Offer The PA Property
For sale, with conditions! Now that you can finally take action and sell your probate property in Upper St Clair PA, you’ll want to make certain to disclose to your potential buyer that the court’s confirmation of the transaction is required before you can accept, making the offer conditional.
Court Confirmation In Upper St Clair PA
Commonly, once you’ve petitioned the court for a hearing to confirm your sale, you can expect delays on the court calendars ranging from between 20 to 40 days, from the filing date.
Deposit In Upper St Clair, Pennsylvania
At the time of initiating the sale process for the probate property in Upper St Clair PA, it is common practice to collect a 10 percent deposit from the buyer. This deposit is typically based on the purchase price of the property. Collecting a deposit serves as a commitment from the buyer and provides a financial guarantee of their intention to proceed with the purchase. The deposit amount may vary depending on the specific terms agreed upon by both parties and should be clearly outlined in the sales contract. It is advisable to consult with legal professionals or real estate agents experienced in probate sales to ensure compliance with relevant laws and regulations regarding deposits and purchase agreements.
Advertise In Pennsylvania
Because the ultimate goal of the sale of a probate property in Upper St Clair PA is to garner the highest amount possible for the estate, you must advertise your court hearing to the general public for a process known as open bidding. This allows any additional interested parties to participate in the purchase of the real estate, aiding in raising the final purchase price.
Court Hearing In Upper St Clair
Now you’ll need to attend the court hearing and wait until the unconditional bidding has concluded and a cashier’s check is presented for the final figure. Your buyer will be able to participate along with any member of the public who so chooses, bids increase by $500 at a time.
Refunding The Deposit In PA
Should a new buyer overbid your buyer during the court proceedings, be prepared to refund their 10 percent deposit. Otherwise, should your original buyer maintain the highest bid, the funds you previously collected from them would be applied to the purchase.
Closing In Pennsylvania
Finally, you can close on the contract for your probate property in Upper St Clair PA. Be certain that the costs of the property are covered by the financing. You’ll also be responsible for placing the full amount into the estate fund.
Sell My House In Upper St Clair PA
While all this can seem like a complicated process, at Dustin Buys Houses, we have been doing these types of transactions for years and can help you navigate the probate process for a property with ease. So if you would like to sell your house in Pittsburgh fast and without the hassle, give us a call. Being professional Pennsylvania home buyers and experts in our fields, we’re ready to help you reach your real estate goals and will be glad to answer any and all questions.