Probate sale it happens when a homeowner dies and the estate elects to sell the home to settle the estate.
Sometimes these sales require court confirmations, where bidding can get competitive.
Like foreclosures, there are no warranties, repairs, ifs, and or buts.
Probate is a court-supervised administration of a decedent’s estate.
In most real estate transactions, the seller is required to disclose information about the property, including defects, construction conducted without a permit, evidence of pest or water damage, etc.
Because sellers of real property through probate, trust or conservatorship may never have lived in the property that’s being sold, special disclosure forms take this into account.
Probate and trust sales require special disclosures, listing agreements and purchase contracts.
In California, the California Association of Realtors has standardized forms specifically for probate transactions.
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