The process of selling a house in probate in Philadelphia in less than 5 steps
According to the National Multi Housing Council, about 65 percent of Americans are homeowners, increasing to 78 percent if you filter the search based on people 45 and up. All of them hold the potential to have their homes end up in probate when they die. Probate is the process of transferring legal ownership of the home from the deceased to their beneficiaries.
Understandably, during the time, selling a property in probate can be much more than expected or bargained for. Take a look at the following and get clarity on the process. Globalpost.com contributor, and estate law paralegal, Beverly Bird, covers the step-by-step process of selling a house in Probate in Philadelphia.
Check the decedent’s will
Obviously, the first thing to do in the event of selling a house in probate in Philadelphia is to check the will of the descendant for the name of the executor. The executor is the only one with the power to sell the house as part of the probate process.
Once that information has been declared, the executor would need to confirm a few things in this first step, including whether or not it has been required that the property is to be sold, if it can be done without probate court intervention, or if an independent administration is allowed.
Request the court’s permission to sell
The named executor will need to speak with the courts in the event that the will does not permit the appointed to act independently. While this process varies from one state to the next, it primarily consists of filing with the probate court, seeking a judge’s permission to act on selling a house in probate in Philadelphia.
Everyone that has business dealings connected to the property will need to be notified and the approval or denial will be disclosed in a court hearing.
Review the court’s requirements
The court has given you permission, or perhaps there was no need for you to seek out the courts. In either case, consult with the necessary party to get clarification on specifics of the rules following the courts granting you approval to sell a house in probate in Philadelphia.
Finally, after the tedious process of selling a house in probate in Philadelphia, you reach the part that you’ve been interested in most- selling. However, this step requires that you check for any particular rules, which may change state to state
Examples would be, according to Bird, the selling price cannot exceed a certain percentage, or a notice may need to be posted in the local newspaper.
Selling a house in probate can be more than draining. Generally, by the time you reach the ending of the actual probate process, you have to focus on getting the property ready for the market, which could take more time and money. Allow us to help. We want to buy your home, cash and relieve you of any additional burdens.
Contact us at 267-908-3860. Call or text us. We want to help you.