[How To] Sell A Probate Property In Eugene

Ed Zulyevic: Hey everybody, Ed Zulyevic here at West Coast Property Group. I just wanted to do a quick little video here, maybe help you guys out, give you some information how to sell a probate property in Eugene. If you own a property that’s stuck in the courts, it might seem pretty overwhelming and frustrating. All of your hard work handling everything should pay off in one way or another, so be patient. Here in this latest video post, I want to help you learn what you would need to do to sell a probate property in Eugene. The probate process it’s pretty stressful, so selling a house on top of that can only add to your frustration and stress, so at West Coast Property Group here, we can try and help you out with a fair and fast sale of your probate property in Eugene.

I guess first of all we should probably talk about what is probate. We’ve all heard about it. We talk about it pretty loosely from time to time. But exactly what is probate? Basically, the probate occurs when someone dies, and the heirs receiving the property are listed in the will and the debts of the deceased of the estate are paid off. If you have to deal with the probate process, it’s really best to deal with it. Find yourself a probate attorney, and they can help you through that process and through the courts as it moves through there.

They’ll be able to provide you with advice, help you with handling any debt payments, tax situations, liabilities. They’re really going to be your best source to help guide you through that stressful process. You’ll need to take an inventory of the estate’s assets and locate all the estate planning documentation. You want to notify all the creditors should there be some debts that would be outstanding that would need to be paid from the estate.

You also have to deal with income taxes, possible inheritance tax depending on the situation, if there was a will present. Sometimes this process can take six months, one year, two years, or sometimes even longer. Why would a probate home need to be sold? Basically, when a person dies, there’s outstanding expenses owed or ongoing expenses such as a mortgage payment, and the estate may not have the income to pay these debts. There’s going to be an executor of the estate, and they may be forced to sell the property in order to avoid foreclosure if there’s a mortgage on the property. If the house is not required to be sold by the court, you’ll need to wait until the probate process is complete before attempting to sell the house.

However, you can plan ahead a little bit by speaking to myself or someone on our team to help give you some of the basics of the probate process. We’ll be able to give you a tentative offer, and you’ll know what to expect once the house has cleared the probate process.

How does this work? Even when the property is not left to an heir, the executor of the estate, they will be tasked with handling the sale of the home. An interested buyer must provide a deposit along with a written offer, and just a word of caution, this varies state by state. So, before the offer is approved by the courts, the court will ask if there was anyone that would like to make a higher offer on a property. Once the court approves the offer, there’ll be an opportunity to have the property inspected before the sale, and like I said, some states are different.

Once this process is complete, escrow would be able to close within a few weeks, and the proceeds of the sale or can be used to pay any outstanding debt that are owed by the estate.

One thing you want to do is make sure that everyone is on board. Now, this is kind of a tricky situation. If there’s multiple heirs, it’s important to make sure that everyone is all on the same page and that you have the same goals. Even though the executor of the estate has the authority to list and sell the property, it’s definitely always best to get everyone in agreement ahead of time. What you do not want to have is that anyone contests the sale and create problems within your family, if you can avoid that at all possible cost.

If you want to learn more about how to sell a house that’s in probate or has cleared the probate here in Eugene, I’d love to answer any questions you have about the process. We’d love to make you a fair offer. We have multiple ways that we can do that, so just reach out to us. Give us a call at (541) 780-2424 or jump onto our website at the www.westcoastpropertygroup.com. I’d love to talk with you and share what I know about the probate process and give you some different options and some strategies that you can use to help you out through this process. Thanks.

[How To] Sell A Probate Property In Eugene-West Coast Property Group (541) 780-2424
Video Transcription

Ed Zulyevic: Hey everybody, Ed Zulyevic here at West Coast Property Group. I just wanted to do a quick little video here, maybe help you guys out, give you some information how to sell a probate property in Eugene. If you own a property that’s stuck in the courts, it might seem pretty overwhelming and frustrating. All of your hard work handling everything should pay off in one way or another, so be patient. Here in this latest video post, I want to help you learn what you would need to do to sell a probate property in Eugene. The probate process it’s pretty stressful, so selling a house on top of that can only add to your frustration and stress, so at West Coast Property Group here, we can try and help you out with a fair and fast sale of your probate property in Eugene.

I guess first of all we should probably talk about what is probate. We’ve all heard about it. We talk about it pretty loosely from time to time. But exactly what is probate? Basically, the probate occurs when someone dies, and the heirs receiving the property are listed in the will and the debts of the deceased of the estate are paid off. If you have to deal with the probate process, it’s really best to deal with it. Find yourself a probate attorney, and they can help you through that process and through the courts as it moves through there.

They’ll be able to provide you with advice, help you with handling any debt payments, tax situations, liabilities. They’re really going to be your best source to help guide you through that stressful process. You’ll need to take an inventory of the estate’s assets and locate all the estate planning documentation. You want to notify all the creditors should there be some debts that would be outstanding that would need to be paid from the estate.

You also have to deal with income taxes, possible inheritance tax depending on the situation, if there was a will present. Sometimes this process can take six months, one year, two years, or sometimes even longer. Why would a probate home need to be sold? Basically, when a person dies, there’s outstanding expenses owed or ongoing expenses such as a mortgage payment, and the estate may not have the income to pay these debts. There’s going to be an executor of the estate, and they may be forced to sell the property in order to avoid foreclosure if there’s a mortgage on the property. If the house is not required to be sold by the court, you’ll need to wait until the probate process is complete before attempting to sell the house.

However, you can plan ahead a little bit by speaking to myself or someone on our team to help give you some of the basics of the probate process. We’ll be able to give you a tentative offer, and you’ll know what to expect once the house has cleared the probate process.

How does this work? Even when the property is not left to an heir, the executor of the estate, they will be tasked with handling the sale of the home. An interested buyer must provide a deposit along with a written offer, and just a word of caution, this varies state by state. So, before the offer is approved by the courts, the court will ask if there was anyone that would like to make a higher offer on a property. Once the court approves the offer, there’ll be an opportunity to have the property inspected before the sale, and like I said, some states are different.

Once this process is complete, escrow would be able to close within a few weeks, and the proceeds of the sale or can be used to pay any outstanding debt that are owed by the estate.

One thing you want to do is make sure that everyone is on board. Now, this is kind of a tricky situation. If there’s multiple heirs, it’s important to make sure that everyone is all on the same page and that you have the same goals. Even though the executor of the estate has the authority to list and sell the property, it’s definitely always best to get everyone in agreement ahead of time. What you do not want to have is that anyone contests the sale and create problems within your family, if you can avoid that at all possible cost.

If you want to learn more about how to sell a house that’s in probate or has cleared the probate here in Eugene, I’d love to answer any questions you have about the process. We’d love to make you a fair offer. We have multiple ways that we can do that, so just reach out to us. Give us a call at (541) 780-2424 or jump onto our website at the www.westcoastpropertygroup.com. I’d love to talk with you and share what I know about the probate process and give you some different options and some strategies that you can use to help you out through this process. Thanks.

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