How do you sell a house through Probate?
When someone passes away, one of the major assets left behind is generally the home that they live in and own. Unless the home is in an Estate Plan and they’ve prepared what they want done with it when the owner passes, that home is going to have to go through Probate Court in order to get transferred to the right people.
Many times if you’re in Probate and there’s a house involved, the heirs will elect to sell the house through Probate Court. This is very common because often the heirs need the money from selling the home in order to pay off Estate debts. When that happens, the most important thing to remember is that the court has to approve the sale of the home.
When the court holds a hearing to approve the sale of the home, they will ask if there’s anyone in the audience who wants to bid up the property. The court is going to accept the highest and best bid. This is usually a good thing for the heirs because they’re going to get the best offer possible for the property.
If you would like to talk about this or other Probate or Estate Planning matters, please give the office a call at 702-850-7998, or schedule an appointment online.