Buying and selling real estate is a big business in any economy.  But some real estate transactions can be tricky propositions!  Properties in probate are a case in point — so, here are some things to know if you have a Baltimore property in probate.

What is probate

A probate is a legal way of administering the property of a deceased person (decedent) if the person died without a will or if the will had specific instructions on how his or her property was to be administered after they are dead.  These proceedings take place in probate courts.

After a death, the person named in the will as executor — or, if the deceased died without a will, the person appointed by a judge — files papers in the local probate court. The executor or personal representative proves the validity of the deceased person’s will and presents the court with lists of the deceased person’s property, debts, and who is to inherit what as stated in the will. Then, relatives and creditors are officially notified.

The executor’s job is very important.  He or she must find, secure, and manage all the assets during the probate process.  This process can take a few months or much longer.  I’ve often heard executors say it’s like having a part-time job!  All outstanding debts and taxes must be paid and accounted for.  The executor has a fiduciary responsibility to all named in the will.

To satisfy all the creditors and heirs to the will an executor may have to sell any real estate, securities, or other property from the estate.  For example, if the will makes a number of cash bequests to named heirs but the estate consists mostly of real estate, or securities, or valuable artwork these assets must be appraised and sold to produce cash.  Once all the debts and taxes have been paid the executor is required to distribute the remaining proceeds as stated in the will.

Begin the process for selling a house through probate in Baltimore

This process starts in the local Register of Wills where the court appoints an Executor or Personal Representative.  If it is going to be necessary to sell a home to satisfy the estate the Executor sells the property just like any real estate transaction.  As in any real estate transaction the seller wants to get full value for the home which means that a comparable market analysis or an independent appraisal should be done.  This is essential so that the Executor can avoid being short-changed.  Throughout Baltimore we offer this service which saves people time and insures that sellers get full value for their property.  Click the link here, fill out the form and we’ll help you get started now.  Once a price range has been determined it’s time to sell the property through which ever methods are best for you.

Listing a property in the traditional manner is the best way to get the highest and best price.  The transaction is straightforward insofar as the property is emptied of all the furnishings; obvious problems are cleaned up as quickly and inexpensively as possible and your Realtor^® lists your property for the price consistent with the market.  We provide this service and more.  Often, families find that it is necessary to make repairs and spruce up in order to present their property in the best way to get the best price.  Because our business is buying and renovating properties for re-sale we have the knowledge and people to handle this and families don’t need to advance the costs out of pocket to get the job done.  This has proven to be a great convenience and savings.

Sell your Baltimore home for cash — fast and secure

When your probate home is in a state of disrepair and deferred maintenance — the kitchen and baths are outdated Executors in Baltimore find that the best strategy is to sell for cash to investors in the business of renovating and re-selling properties.  That’s our business.  We’re a full-time builder, general contractor and property management company specializing in doing everything from changing a light bulb to building a brand new home.  And, we pay full value for the homes and lots we buy because we know — you can’t be successful in business if you don’t have a reputation for being trust worthy and competent in all you do.  Our service is working with Baltimore families who have problem properties in probate.  We do what is in the best interest of our clients to help bring closure to the estate and avoid the uncertainty that comes from entering a sales contract with a buyer who does not have the cash required for settlement.

If you are interested in learning more about the best options for you to sell your home — give us a call at 000-000-0000 ext000.  Or if you prefer click on the link and drop us an email and we’ll schedule a time to meet and assess your property so you can sell fast and settle fast.