An overview of what to expect while selling real estate during probate.
Probate Process Overview
Probate Real Estate Sale Overview
Start
File Petition for Probate
Notice of 1st Court hearing date published in newspaper.
5-6 Weeks
Hearing Date
2 Months
Letters Issued By Court
Order for Probate Duties & Liabilities Issue Bond
Gather assets File Inventory & appraisal form Notice to creditors Allowance/rejection of creditors claim
Months 3-6
Full Authority Sale (IAEA)
Interview qualified probate agent/broker
Determine list price (no court limitation)
Execute listing agreement
Market the property
Execute probate purchase agreement (acceptance of offer)
Distribute Notice of Proposed Action - 15 days
Open Estate Bank Account
Close Escrow
Months 6-12
Limited Authority Sale (IAEA)
Interview qualified probate agent/broker
Determine list price (according to 90% Rule)
Execute listing agreement
Market property
Notice of Sale
Execute probate purchase agreement (acceptance)
Report of sale & petition for Order Confirming Sale
Notice to buyer, beneficiaries, interested parties
Court hearing and over-bidding process (10% min. overbid deposit)
Court order
Close escrow
9 Months
Petition for Final Distribution
10 Months
Court Hearing
1 Year
Receipt on distribution CASE CLOSED
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