When someone passes away, they leave their loved ones and their property behind. Sometimes the person’s last will or Testate is left behind, as well, but sometimes it isn’t. Whatever the situation, the property is reassigned to the heirs in a court of law. This extensive process is known as probate.
Sometimes a question arises, “Can a house be sold while in probate in Fort Worth Texas?” and the answer is that it can be sold if simple steps are followed properly. As a real estate investor in Fort Worth Texas, W6 Property Solutions advises sellers to go through the following steps and also suggests other investors check the procedures when they go for buying property on probate period in Fort Worth.
Can a House Be Sold While in Probate in Fort Worth? Yes, but Follow These Steps First!
With the help of the independent, certified appraiser, a property can be appraised. You can very easily look for the appraiser in the local phone book or ask your real estate agent for a recommendation. So as real estate investors, we look for buying property on probate in Fort Worth Texas 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 for probation from the court. So fill in the petition form and provide all of the details related to the sale of the property in Fort Worth, 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 for selling your property. An investor only buys the property that has already obtained this petition, and we do look into the fact that the seller has gone through the process of obtaining petition.
Place Your Property for Sale
The next step is placing your property for sale. Be sure to inform the buyer that the property will be sold only after confirmation from the court as it is on probate. All real investors only buy the property that is on sale after seeking court 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 Fort Worth. You have to wait depending on the pressure of the state court. 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 hearing from the court. As investors ourselves, we tend to ensure that the seller seeks the court for the confirmation soon.
Advertise in Local Newspapers
Advertise the sale in local newspapers. This is done so that the public is informed about the property sale during probate period. It also allows open bidding for the other interested people so that the property gets the best price. So if you are seeking to buy property on probate in Fort Worth, you can bid in the court hearings. We often find out of good property on 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 to the previous buyer and take the deposit of the buyer after the confirmation has been given by the court. We tend to always pay some money as deposit for the original price to the court after the contract has been confirmed.
Then complete the contract with the buyer after the steps listed above. Real investors look for property that follows all of the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Fort Worth, then we can help.