Failing to comply with estate administration* will result in additional costs, and can even cause your property to be tied up for a long time. You’ll need to wait as the assets of the deceased are analyzed and their heirs are determined; executors may have to liquidate real estate, meaning that probate court could take months – if not longer – distributing funds for any beneficiaries.
If you find yourself in a position where you have inherited a property via probate, these are some aspects of the process that might come into play.
Certain aspects of this real estate law are common among all jurisdictions, for a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property in Windsor CT
If you’re looking to sell fast, you can reach out to us. At We Buy Houses In Connecticut, we buy houses in Windsor Connecticut and we’ve helped homeowners just like you who need to sell a probate property. As homebuyers in Windsor CT, we can walk you through a process that’s less stressful and really fast and easy!
How to Sell a Probate Property in Windsor CT
Certified Appraiser
The first step in determining the value of your property is to locate an independent certified appraiser. You can do this by either using telephone listings or asking around among professionals who deal with probate real estate from Windsor CT
Petition
Once you have your certified appraisal, file a petition with the court to sell the probate property. Write your proposal and tell them any relevant information about it, including how they will be sold. Once you get approval from the
court, sale of the probate property can proceed according to their instructions.
Offer the Property
When you finally take action to sell your probate property in Windsor, CT, be sure to let the buyer know that confirmation of the transaction is required before any offer can become unconditional.
Court Confirmation
After you’ve petitioned the court for a hearing to confirm your sale, expect a 20-40 day delay on their calendar from the date of filing.
Deposit
For the buyer, plan to collect a 10% deposit at this time, based on purchase price.
Advertise
The goal of the probate sale process is to make as much money as possible. This can happen in a couple ways. One way, called open bidding, is through advertising the court hearing for anybody else who might be interested in buying the building.
Court Hearing
Now, you’ll need to attend the court hearing and wait until a cashier’s check is presented for the final figure. Your buyer will also be able to participate along with any member of the public who wants, and bids increase by $500 at a time.
Refunding the Deposit
If a new buyer outbids your original buyer during court proceedings, you’ll be required to refund their 10% deposit on the purchase. Otherwise, if your initial bidder maintains the highest bid of all potential buyers, any monies collected from him or her will be applied to the sale price.
Closing
Finally, you can close on the contract for your probate property in Windsor CT. Be sure that all of the bills are paid up by then and create a backup plan for any issues with financing. You’ll also be responsible for putting a substantial amount into the estate fund.
Sell My House In Windsor CT
We buy your property as-is and you don’t have to worry about anything! We are Windsor CT home buyers that have worked with homeowners all over the Windsor area who are looking for a convenient way to sell a house. You can sell your house in CT area directly to us now!
We offer cash for houses in Windsor CT and we can close at any time you need.