Probate is the process of reassigning the property to the beneficiaries after the property owner dies. When a person passes away they leave their loved ones and their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it’s not.
Whatever the situation is, the property is reassigned to the heirs by the court of law, and this extensive, thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Dallas TX?“, and the answer is that it can be sold if simple steps are followed. As real estate investors in Dallas TX, Jamie Buys Houses advises sellers to go through the following steps and also suggests other investors check out the procedures when they’re wanting to buy property during the probate period in Dallas.
As real estate investors in Dallas TX, Jamie Buys Houses advises sellers to go through the following steps and also suggests other investors check out the procedures when buying property in probate in Dallas.
Can a house be sold while in probate in Dallas, TX? Yes, but make sure to follow these steps first!
With the help of an independent certified appraiser, a property can be appraised. You can easily look for an appraiser online or by contacting a local real estate agent for their recommendations.
So, as real estate investors, we look for buying property in probate in Dallas TX that has already sought a property appraisal.
Obtain the Petition
When you are in the process of selling the property during the probate period you have to seek probation from the court. So fill out the petition form and provide all the details related to the sale of the property in Dallas along with mentioning the methods of sale.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
An investor only buys the property that has already completed the procedure of obtaining the petition, and we do look into the fact that the seller has gone through the process of obtaining the petition.
Place your Property for Sale
Next step is placing your property up for sale. Be sure to inform the buyer about the matter that the property will be sold only after confirmation from the court as it is currently in probate. All real investors only buy the property that is on sale after seeking the court’s petition. If your property matches these conditions then we might be able to take it off your hands.
Seek the Court for Confirmation
As a buyer, you have to seek the court for confirmation to confirm the sale of your property in Dallas. Generally, hearings take place within a period of 20 to 40 days. Please do not forget to make arrangements and take 10 percent of the price from the buyer before the date of the hearing from the court. As investors ourselves, we always makes sure that the seller seeks the court for the confirmation soon.
Advertise in Local Newspapers
Inform buyers about the sale and advertise it in local newspapers. This is done so that the public is informed about the property sale during the probate period. It also allows open bidding for the other interested people so that the property gets the highest and best price. So if you are seeking to buy property during the probate period in Dallas, you can bid in the court hearings. We often come across good property in probate through the local newspapers.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are done and buyers and real estate investors come for bidding. After the final agreement is done, the cashier’s check is given to the court after the bid is confirmed. If there is a new buyer, refund the money of the previous buyer and take the deposit of the buyer after the confirmation has been given by the court… We tend to pay a deposit of the original price to the court after the contract has been confirmed.
After this, you can complete the contract with the buyer after the above-written steps. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Dallas, then Jamie Buys Houses can help.