We buy houses in Upper St Clair, Pennsylvania, and provide residents with the ideal way to sell their property fast by purchasing cash for houses in Upper St Clair. When dealing with a probate property in Upper St Clair PA, you may have many questions you would like to have answered. So as local homebuyers in Pennsylvania, we offer below some information about probate properties as well as ways to handle them.
What Is Probate In Upper St Clair PA?
Probate is a legal process that takes place when a homeowner passes away, provided that the property was not held in a trust or owned jointly with another person who has survivorship rights. In most cases, if real estate needs to go through probate, it will be sold, and the proceeds from the sale will be divided among the beneficiaries, unless otherwise specified in the will. The initial step is to identify the jurisdiction where the probate should occur, typically starting with the municipality or county where the property is located. It is common for probate to be required in the county where the property is situated. Subsequently, it is advisable to engage the services of a lawyer who will review the will and prepare the necessary legal documents. These documents will then be presented to the court. The judge will determine the rightful owner(s) of the real estate based on the provisions outlined in the deceased owner’s will. It is uncommon for a judge to go against the instructions specified in the will.
Who Pays For Probate In Upper St Clair, Pennsylvania?
You can either pay for the probate out of pocket, or you can arrange that the probate costs be taken out at closing. The executor of the estate will determine a listing price for the property, negotiate the sale price, and execute the sale contract. The lawyer that is handling the probate for you will then send their invoice to the title company handling the real estate transaction. The probate will be subtracted from the proceeds of the sale of the property. Their fee can range from a few hundred dollars to well over a thousand dollars. This varies by state and value of the property.
Can I List Probate Real Estate In Pennsylvania?
You cannot sell or even list the property before the probate process is completed or without approval from the court. You will have to petition the court to be allowed to list the property. When it is listed available for sale, you may make offers on the property and have a contract; however, the closing will not occur until the probate is complete. When the probate case is filed, the title company knows who now can legally sell the property.
How Much Should I Sell For In PA?
To determine the appropriate asking price for the real estate, it is important to have the property appraised. An appraisal provides an accurate assessment of the property’s value and can also identify any structural issues that need to be disclosed in the sales contract. When evaluating offers, it is crucial to take into account the costs associated with the probate process. If you own a vacant lot, ensure that the offer is sufficient to cover these expenses. In most cases, houses and other types of real estate tend to sell for amounts that exceed the costs of probate. If you wish to sell the probate real estate promptly, listing it at a price slightly lower than the market comparables or appraisal value can attract offers more quickly.
I’ve Accepted An Offer In Upper St Clair, Now What?
Once you have received an acceptable offer or negotiated a satisfactory price, it is time to execute the contract. If you have any concerns or queries regarding the contract, it is advisable to consult a real estate lawyer who can assist you in comprehending all the terms, conditions, and riders essential for the completion of the transaction. When selecting a title company, ensure that you provide them with the invoice from the probate lawyer so that they can handle the payment of their fees from the proceeds of the sale. This helps to streamline the financial aspects of the probate process.
Sell My House In Upper St Clair PA
If you think you need to sell your house in Pittsburgh fast, then you may need us. We are local Pennsylvania home buyers, and we can help you have a stress-free sale by buying your probate property directly from you. We can make you a quick and fair cash offer. Give us a call at (412) 688-6311 or fill out the online form below and we will get in touch with you.