Probate liquidators buy inheritance assets from estate administrators who manage decedent properties. There are many reasons Administrators sell inheritance property, however the most common is to obtain cash to pay-off outstanding debts or liquidate assets which are expensive to maintain.
Real estate is often sold to probate liquidators in order to eliminate monthly mortgage payments and related expenses. Estate executors are accountable for maintaining real property throughout the probate process. When a home loan note exists, the estate must continue making mortgage arrangements. Otherwise, the home could be vulnerable to foreclosure.
The estate must continue paying property taxes and insurance, homeowner’s association dues, and maintenance expenses such as lawn care or pool service. When decedent estates do not possess the financial means to cover property expenses, the estate executor can list the property as ‘For Sale by Owner’ or through a realtor.
It can take months to locate a qualified buyer nowadays in this recessed housing market. When estates are strapped for cash, selling real estate to probate liquidators can bring around quick resolution. Although probate estate liquidators buy inheritance property below market value they usually buy houses with cash to quickly expedite the sale.
Selling probate real estate can be complicated, so it ideal to work by using a probate lawyer guarantee proper protocol is followed. Probate is handled differently each state. Some states allow estate administrators to sell inheritance assets without court interference, while others require court authorization.
When decedents bequeath real estate to multiple heirs should all agree to trade the property. 1 or more heirs refuse to relinquish property rights along with the estate is unable to maintain mortgage payments or related expenses, a probate judge can order the property be sold.
Most probate liquidation companies buy various real estate including single- and multi-family homes, condos and townhouses, manufactured and mobile homes, rental and vacation properties, vacant land and commercial real personal.
In addition to estate realty, probate liquidators purchase a mixture of valuable inheritance wealth. Popular estate assets include cars, trucks, boats, RVs, motorcycles, antiques, collectables, jewelry and household items such as furniture and major systems.
Many probate liquidation companies offer additional estate services which may be beneficial to estate executors. These consist of organizing estate auctions; locate missing heirs and lost property; and locating buyers for rental properties, commercial real estate and businesses properties of the decedent.
Estate administrators should take time to check into probate liquidation companies prior to coming into a contract. Start by checking with the greater Business Bureau to see if prior complaints have been filed. Check with local government agencies to ensure business is licensed to conduct business and holds proper permits and business cover. Selling probated property can be emotionally difficult, so be certain you are selling your household’s property to a trustworthy probate liquidator.
The Estate Settlers – The Transition Management Team
Suite F6-273 20423, FL-7, Boca Raton, FL 33498
(561) 207-7654