PROBATE QUESTIONS: YOU KNOW YOU HAVE THEM!
Do You need to sell your house during probate?
How To Sell Your House During Probate In Jacksonville Fl.
This article will provide basic information on how to sell your house during probate. We are not lawyers and this is not intended to be legal advice. We always recommend you seek the guidance of a probate attorney.
Freedom Home Buyers has purchased many inherited and probate homes over the years but one recent case study stands out. Three sisters Margaret, Julia and Barbara were in the process of probating the estate of their late parents. The property had been in the family for over forty years and had been vacant for almost 16 years as their parents were in assisted living facilities. To make maters worse the Jacksonville house was filled with personal property similar to hoarders as it had been used for storage.
Up keep, maintenance, property taxes, insurance, lawn care and risk of vandalism where constant concerns and expenses for the three sisters. They had spent countless weekends, vacations and holiday’s caring for this property………can you imagine mowing a vacant houses yard for almost 20 years?
If you are facing a similar situation, caring for an inherited property and need to sell your house during probate, understand that this is very common.
To complicate the situation even more, due to the amount of time the property was vacant, serious deterioration of the house had taken place. For example, the roof was partially collapsed and there was some serious foundation cracks that had made the sisters question if the home was salvageable, much less safe to be in now. They feared that the house would need to be demolished. This was upsetting due to the fact that the house had been in the family for generations. While they didn’t want to live in it, they also didn’t want to see it torn down.
Check out some of the photos below
Freedom Home Buyers was able to step in quickly and help them with some answers. Our team determined quickly that the house was salvageable. We gave them the piece of mind that the house would be renovated and that another family would get to enjoy it for years to come.
The family explained at closing that they went with us for several reasons:
- That we set ourselves apart from the “stack.”
Our Acquisitions Specialists worked closely with the family from day one. We were sure to answer all their questions, help them understand the process and help them find the best possible solution to their situation. The key is to be aware of he core need to sell your house during probate. We were careful to be empathetic to their situation… but also to remember that they were counting on our expertise to push this deal through. In the end, we were able to make the whole transaction as lucrative as possible for the three sisters. They had nothing but good things to say to us and got a big old check to boot.
If you know someone who has a house they need to sell, fill out the form below or share this with them.
Who is FREEDOM HOME BUYERS?
Freedom Home Buyers is a local Jacksonville company with the experience in purchasing real estate. We have nearly 1,000 deals in the last 8 years. Unlike some “Cash For Houses” businesses, we are an established member of the Jacksonville community. Our office is located in the historic Riverside district @ 1605 King Street. We have a full staff of trained professionals to help you with your real estate needs. We are BBB ACCREDITED. You can be rest assured that Freedom Home Buyers can help solve your real estate problems.
So how do you sell your house during probate?
Here is some information on the process.
How do you know if you must go through the probate process?
If the property was only in the decedents name at the time of death or if it was in the decedents name and other parties names as tenants in common (without right of survivor ship) then probate will be needed in order to transfer the ownership of the property in order to sell the inherited house.
When does the property not have to go through the probate process?
Ownership of the property can be passed on without going through the probate process in the following situations.
- If the decedent was married at his time of passing and the property was in the husband and wife’s name as tenancy by the entireties.
- If the property was held by the decedent and other parties as joint tenants with the right of survivorship.
- If the property is held in a trust
- If the property was in a life estate with the remainder of interest to another.
What are the two most common types of Probate in Florida?
Formal Administration is the most common form of probate. It requires that a petition be filed with the court and an Executor (personal representative) be named to handle the liquidation (if needed) and the distribution of all proceeds from the estate. All Creditors must be paid first from the proceeds and the rest is distributed to the named beneficiaries. If the value of the estate is more than $75,000 USD, in most cases, a formal administration is required. In this type of procedure the Executor generally has the right to sell the property on behalf of the estate, as long as the will included a “power of sale” provision. Otherwise, proper authorization from the court is required to sell the property and transfer the deed.
If the total value of the estate is less than $75,000, or it has been more than two years since the deceased passed, the court can provide an outline for the distribution of the estate and no formal Executor needs to be named. This simplifies the process overall and the court can simply authorize the sale f the property in question. However, if the will states that formal administration is required, summary administration can not be used.
TESTATE – This means that the person died with a will in place that usually outline how the decedent wanted to disperse the assets of the estate.
INTESTATE– the person died without a will in place. In this case you will follow the requirements of the intestate law in Florida.
While probate homes offer their own set of legal challenges, the truth is we get a chance to help a family out who is going through a tough time. When we say, “we solve real, estate problems,” we mean it.
At Freedom Home Buyers we are experienced in buying houses in Jacksonville that have been inherited and are in the probate process. So if you need to sell your house during probate, we can help.
We have years of experience dealing with these types of emotionally charged and highly sensitive situations and have developed a system that makes it as easy on you as possible. Our expert acquisitions team can take you through every step of the process.
So, are you ready to put this stressful situation behind you?
If so, then just contact us by visiting our website www.webuyhousesjax.com and entering your information into the form or just call or text us at 904.274.4823 and tell us a bit about your situation. We would be happy to discuss your options with you.
Freedom REI, llc
1605 King Street
Jacksonville, FL 32205
Call us now @(904) 593-4699
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