If you own a property, that is stuck in the probate court, it can feel frustrating and overwhelming. All of your hard work handling everything should pay off in one way or another. Understand this, you do not have to go through probate court in order to sell a probate property in Texas. Keep reading, as our latest post, we will help you learn and hope you understand how to “sell a probate property in Dallas, Tx.!“
The probate process can be and sometimes is stressful. Selling a house on top of everything else can only add to the frustration. At We Buy Houses Cash Dallas, we can help you with a fair and fast sale of your probate property in Dallas. Keep reading to learn more about our best tips for selling quickly. Keep in mind, with our experience we can take you from Cash offer to closing at the Title company within 30 days, many times in 5 days.
What Is Probate?
Probate occurs when someone dies and his or her Heirs receive property that is considered inheritance, and it is listed in what is called a ‘Last Will and Testament,’ and the debts of the deceased estate are paid off after the sale of the property. If you have to deal with the probate process, it is sometimes best to deal with a probate attorney as the process moves through the courts. An attorney will be able to provide you with advice, help you handle debt payments to creditors, tax situations, and guide you through an often stressful process. You will need to take an inventory of the estate’s assets and locate all estate planning documents. You will want to notify all creditors and pay off any outstanding debts with money from the estate. There will also need to be a final income taxes filed for the deceased. As well, income taxes which include a possible inheritance tax. Depending on the situation and if there is a Will present, the process can take 6 months to over two years.
Sometimes it’s better to consult with a professional house buyer such as We Buy Houses Cash Dallas, when you need to sell a probate property in Dallas, Tx., who can also provide the advice as can the attorney, and the buyer will pay the closing cost when property title is ready to close. Know this, it does not take up 6 months or more to close on any property inculding a probate property.
Why Would A Probate Home Need To Be Sold?
When a person dies and there are outstanding expenses owed to creditors, or ongoing expenses such as a mortgage payment, auto payments etc.. the estate may not have enough income to pay these debts. The Executor of the estate may be forced to sell a probate property in Dallas, Tx., in order to avoid foreclosure. If the house is not required to be sold by the probate court, you will need to wait until the probate process is completed before attempting to sell the house. However, you can plan ahead by speaking to one of our team members and giving them the property’s basic information.
We will be able to provide you with a Cash offer, so you can know what to expect once your house has cleared the probate process. As well, there is no reason to go through the probate process. Many times, Heirs cannot afford to pay attorney fees and court cost, then wait months for the probate court to make a determination, as what to do with the property. Contact We Buy Houses Cash Dallas, and we can take you from Cash offer to closing at Title Company within 30 days. It does not take months to close on any property we buy.
How It Works
Even if the property was not left to an Heir, the Executor of the estate will be tasked with handling the sale of the home. An interested buyer must provide a deposit along with a written offer. Before the offer is approved by the courts, the court will ask if there is anyone who would like to make a higher offer for the property. Once the court approves the offer, there be an opportunity to have the property inspected before the sale of the probate property in Dallas, Tx., is finalized. Once this process is completed, escrow will be able to close within only a couple weeks. The proceeds of the sale are used to pay any outstanding debts, with the remaining balances going to the heirs as outlined in the will. Again, working with We Buy Houses Cash Dallas, we can take you from Cash offer to closing at Title Company within 30 days, many time s in just 5 days. Not 6 + months later.
Make Sure Everyone Is Onboard
If there are multiple Heirs, it is important to make sure everyone is all on the same page. While the Executor of the estate has the authority to list and sell the property, it is best to get everyone in agreement ahead of time. You don’t want to have anyone contest the sale or create problems within a family if you can avoid it.
Do you want to learn more about how to sell a probate property in Dallas, Tx.? We can answer any question you have about the process. Reach out to us today at We Buy Houses Cash Dallas, for more information, (214) 723-1304. The one thing to remember here is, you do not have to go through probate court in order to sell property, An “Affidavit of Heirship” is all that is needed to sell probate property in Texas.