Probate is the legal procedure through which property and assets are officially transferred to the beneficiaries after an individual’s passing. When someone passes away, they leave behind both their loved ones and their property. In some instances, the deceased person has prepared a last will and testament (known as a Testate), which outlines their wishes for the distribution of their assets. However, there are also cases where no such will exists, leading to a different set of legal considerations for asset distribution.
In either situation, whether there is a will or not, the property is legally transferred to the heirs through a comprehensive and meticulous legal process known as probate, which is overseen by the court of law.
The question of whether a house can be sold during the probate process in Columbus, GA does indeed arise, and the answer is affirmative, provided specific steps are followed. As experienced real estate investors in Columbus, GA, Flagship REI offers guidance to sellers by recommending the following steps. Additionally, Flagship REI suggests that other investors should familiarize themselves with the procedures when considering the purchase of property during the probate period in Columbus.
As real estate investors operating in Columbus, GA, Flagship REI provides valuable advice to sellers by recommending the following steps. Furthermore, Flagship REI suggests that fellow investors carefully review the procedures when contemplating the acquisition of property in probate within the Columbus area.
Can a house be sold while in probate in Columbus, GA? Yes, but make sure to follow these steps first!
Property Appraisal
To appraise a property, enlisting the services of an independent certified appraiser is essential. You can conveniently find an appraiser by consulting your local phone book or by seeking recommendations from a trusted real estate agent in your area. Their expertise is crucial in determining the fair market value of the property, which is a vital step in the probate process.
So, as real estate investors, we look for buying property on probate in Columbus GA that has already sought property appraisal.
Obtain the Petition
During the process of selling a property within the probate period, it’s necessary to obtain approval from the court. This involves completing a petition form and providing comprehensive details regarding the sale of the property in Columbus, including the proposed methods of sale. Seeking court approval ensures that the sale is conducted in compliance with legal requirements and helps protect the interests of all parties involved in the probate proceedings.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
As an investor, it’s prudent to focus on purchasing properties that have successfully completed the process of obtaining the petition from the court. Ensuring that the seller has followed the necessary legal steps provides added assurance that the transaction is proceeding in accordance with probate regulations, reducing potential complications and risks associated with the purchase. This diligence helps safeguard your investment and ensures a smoother and more secure real estate acquisition process.
Place your Property for Sale
The next crucial step is to list your property for sale. It’s essential to be transparent with potential buyers and inform them that the property will only be sold after receiving court confirmation because it is in probate. Most reputable real estate investors, like us, typically focus on purchasing properties that have already completed this court petition process. If your property meets these conditions, we may indeed be interested in taking it off your hands and proceeding with the purchase.
Fill out the form to see if your Columbus property qualifies for a quick all cash offer.
Seek the Court for Confirmation
As a buyer, it’s imperative to initiate the process of seeking court confirmation for the sale of the property in Columbus. Typically, court hearings are scheduled within a window of 20 to 40 days. It’s essential to make the necessary arrangements and collect 10 percent of the property’s price from the buyer prior to the court’s hearing date. This practice is often followed by investors like ourselves to ensure that the seller proceeds promptly with the court confirmation, expediting the transaction.
Advertise in Local Newspapers
To facilitate the sale of the property during the probate period, it’s important to inform the public and generate interest. One effective way to achieve this is by advertising the property in local newspapers. This not only ensures that the public is aware of the sale but also allows for open bidding by other interested parties. If you’re interested in purchasing property during the probate period in Columbus, you can participate in court hearings and bid on the advertised properties. Many investors, like ourselves, often discover valuable probate properties through these newspaper listings.
Attend the Hearing
Attending the court hearing is a crucial step in the process, where bids are submitted by potential buyers and real estate investors. Once the final agreement is reached and the bid is confirmed, the buyer typically provides a cashier’s check to the court. If there’s a new buyer involved, any money previously deposited by the previous buyer is refunded, and the deposit from the new buyer is collected after the court has granted its confirmation. As investors, it’s common practice to submit a deposit of a portion of the original price to the court after the contract has been officially confirmed, ensuring commitment to the transaction.
After this, you can complete the contract with the buyer after the above-written steps. Real investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Columbus, then we can help.
Fill out this form or give us a call at 706-918-9133 for a Fair Cash Offer
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