Buying and selling real estate has become a big business in any economy in the world. As the population increases, more houses are needed for people to live in and offices for people to work in. Despite this very real fact of life, real estate transactions can still be risky! Especially when it comes to probate property. And especially if the prospective buyer doesn’t understand the probate process for a house in Paducah and Surrounding Areas, KY.
Ok, So what is probate and how does it affect me selling a house?
A probate is a legal way of administering the property of a deceased person (decedent).
Probate is the process completed when a decedent leaves assets to distribute, such as bank accounts, real estate, and financial investments. Probate is the general administration of a deceased person’s will or the estate of a deceased person without a will. An executor is commonly named in the will or an administrator, if there is no will, to complete the probate process. Someone would be appointed if the person never left a will or if the will had specific instructions on how their property was to be administered after death. These proceedings take place in, you guessed it, probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Paducah and Surrounding Areas…
How to begin the probate process for a house in Paducah and Surrounding Areas
The probate process begins after a person passes away. Soon after, the seller is expected to inform the court of the passing of the loved one, which then the court will appoint an attorney to take care of the sale. Once they are notified, the attorney will advertise the property just like any other real estate property. The price is based on a real estate agent’s suggestion and an independent appraisal which usually has already been ordered by the probate court.
Note: You as the seller will definitely need to familiarize yourself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Paducah and Surrounding Areas, which, if you desired, could be us, Clayton Buys Houses. Click the link here, fill out the form and we’ll help you get started now.
My property is on the market. Now what?
After the property is listed for sale, the seller waits for potential buyers to make offers. When this step is finished, the probate court determines who should purchase the property, usually through an auction if there is more than one interested buyer. In this case, we would suggest you choose Clayton Buys Houses to purchase your property because, as you can see from our website we have not only been given the best deals on probate property in KY but also on short sales!
Want to sell your house in Paducah and Surrounding Areas fast (and securely)?
We have been in this industry for years, and if you look at any of our pages our reputation speaks for itself. If you are interested in choosing us as your partner in Paducah and Surrounding Areas, you are always free to contact us through our website form and our social media pages or just give us a call at (270) 551-2171. For immediate assistance, you can leave an email message on our site, and we shall call you within the shortest possible time. In addition, you can leave a text message, and we shall respond as soon as one of our real estate agents are free.
We are always here to help walk you through the probate process for a house in Paducah and Surrounding Areas. We look forward to speaking with you.