5 Factors You Must Know about Probate in Northern California
Dealing with a loved one’s death is never easy especially with the difficult task of sellinga house in probate. Learning about the probate process and procedures is something you should not go through alone, especially during this tough time of mourning and adjusting to the loss of someone dear to you.
Read on for 5 things you must know about selling a house in probate and how Rhonda Fee, a certified probate agent in Northern California, can help.
1. Filing of Petition for Probate
A person who has died and left a Last Will and Testament has died testate. If a person dies and does not have a will, that person have died intestate. Whether a loved one had died testate or intestate, it is necessary to file a Petition for Probate with the Superior Court within 30 days after the death. This should be submitted in the county where the property owner resided.
2. Make an Inventory of Properties
A list of holdings - both real and personal - should be made immediately. This may include inventories, lists, and photos of the estate of your loved one. Doing this is especially helpful if there is more than one beneficiary.
When real estate property is involved, it is necessary to acquire a home valuation from a real estate professional or an appraiser. Working with an experienced probate agent like Rhonda Fee will cost the estate nothing while meeting the goal of obtaining the property’s valuation. There will, however, be a cost for an appraisal.
3. Renovating or Selling as is
While a Letter of Testamentary is essential before selling the property of the family member who just died, it is not necessary to have prior to performing repairs. Repairs can be done with real properties either residential or commercial during the waiting period of the letters testamentary. The renovation can start immediately so the properties can be sold in the highest value possible.
If repairs are not possible due to lack of funds, there is also the option to sell the property in ‘as is’ condition. You would find out that in a situation such as this, it is best to work with Rhonda Fee, a real estate professional who has a list of investors willing to purchase unrepaired properties.
4. Assigning a Personal Representative
Someone related to the property owner could be indicated in the will as the person who would be in charge of handling the sale of the estate. This person is called the Personal Representative.
If this person declines for any reason, the court will appoint someone such as an heir or another family member. If there is no other person available, a Court Administrator is appointed to execute the tasks of the personal representative.
5. Roles of Personal Representative
There are a number of responsibilities that go with being the personal representative. These tasks include the following:
notification of heirs and creditors
getting as employer identification number or EIN for the estate
recording the list of properties
documenting necessary outgoing costs for the estate and a lot more.
Going through the probate process may be overwhelming, but with the help of professionals such as an attorney and Rhonda Fee, a probate real estate agent in Northern California, a smooth outcome is possible. Learn more about selling a house in probate by going to www.RealEstateProbateAgent.com.
If you are looking for someone you can trust to assist you in selling a house in probate in Northern California during this difficult stage in your life, call Rhonda Fee today at 925-200-0827 for your free consultation! With her extensive experience and knowledge combined with a track record of satisfied clients, calling her will be the best move you’ve ever made!
Disclaimer: The author is not providing any legal advice. Consult an attorney with your legal concerns.