Do you feel burdened by a probate property in Long Island? We can help! Learn more about selling a probate property in our latest post.
When people hear the word “probate” they often feel immediate stress. Losing a loved one is hard enough, but when their properties and possessions become tied up in probate court, the situation can feel even worse. If you are the person in charge of the will, you might feel as if the weight of the world is on your shoulders. But don’t fret. CoMax Properties is a professional probate buyer who will answer any questions you have about selling your house during the probate process.
What Is Probate Exactly?
Probate is the distribution of a person’s belongings after their death. If you are dealing with a property tied up in probate, you know it can be a long and frustrating process. If there isn’t a specified heir, the property will need to be sold in probate court. Either the deceased or the court will nominate an executor to handle the process. This is typically the person’s closest living relative. Once the house is sold, the proceeds will be split among the beneficiaries by the courts. The executor will also need to pay any debt, cash bequests, and fees. Not all properties will have to go through the probate process. With good estate planning, assets can be sold or passed down via a living trust.
Can You Sell The House In Quickly?
Yes! You must be the executor of the estate, and have consent from all known heirs. Proceeds from the sale of the home will be used to pay debts, then divided amongst beneficiaries. The sale must be approved by both the heirs and the court in order to go through. It is important you work with an agent or direct buyer who specializes in probate. You will need to know all of the ins and outs to make sure everything is handled properly. CoMax Properties specializes in buying Long Island probate properties and we can help you end the process as quickly as possible.
How Much Can It Cost?
This will vary based on the size of the estate. You will likely be faced with court fees, transfer fees, document filing, and attorney fees. The fees for a good probate lawyer can amount to thousands of dollars. The process can become very expensive.
Why Sell Now?
The faster you are able to sell the property, the less stress and hassle you will have to deal with. Probate can take on average 6-9 months. By selling the house fast, you won’t have to deal with the long and lengthy process. A direct sale to [comapny] can be completed much faster by comparison.
By selling quickly, you will be able to save you and your family a lot of stress. These situations can be difficult and can lead to increased arguments and bickering between family members. It is helpful for everyone to receive a fast a fair sale. It offers closure during a difficult time.
At CoMax Properties, we have a thorough understanding of how the probate process works. It can be very stressful! Let us help you learn about your options! There is never any obligation!