How to Sell My Probate Property in Dallas

Posted on: April 30th, 2020 by , No Comments

How to Sell My Probate Property in Dallas

How to sell my Probate property in Dallas? Owning a home is probably the biggest asset in most personal Estates in Dallas, Texas. A home is where one purchase a property and raised a Family. As well, the home may be a become a problem when the owner dies and leaves the home to an Executor. Can I sell my probate property in Dallas? Any home can can be sold during the probate process, but only by the Executor or legally authorized individual. If there is no Will, this executor can and should find out how to sell my probate property in Dallas  very soon. Should there be a Will in the Estate, this Personal Representative or Executor must be formally introduced and appointed by the Dallas Probate Court in order to have authority over said or particular Estate. After wards the probate process can begin by petitioning the probate court to appoint a personal representative of said Estate. Once this is done and there is a Will, the court will read and issue “Letters of Testamentary” to the personal representative.

Here, if the decedent died without a Will (intestate) then the court will issue “Letter of Administration‘ to the personal representative. This document shows that the personal representative does have the authority to manage the Estate and assets of the deceased individual. which shall be used in many different settings such as closing on real property at a Title company, used for bank access and insurance. with that, the personal representative should immediately contact the insurer to inform, that the home is no longer owned or occupied and to insure that the homeowner insurance policy remains in full force, covering the real property. Once the personal representative has been agreed to and appointed by the court a notice of the probate will be published. Thereafter, the four month notice to creditor period begins.

How to Sell My Probate Property in Dallas

Now, the personal representative can sell any real property during this four month period, but needs to take very certain steps in doing so:

  • Start working with an experienced attorney and realtor knowledgeable with selling real property during a probate.
  • Have all real property appraised by a licensed real property appraiser to establish a date of death value.
  • Consider a market analysis to determine an viable asking price for the property.
  • Must obtain the courts approval to sell the real property.
  • Be sure all beneficiaries are informed and in agreement with selling the real property.

Due to the inheritance of a property, the personal representative is exempt from all seller disclosures. Should the personal representative be aware of issues or problems with the home, there should be disclosed to all prospective buyers of the property. As well, the personal representative should provide the title company of their choice with the Letter of Testamentary or Letters of Administration and the tax identification number for the Estate. The personal representative will also sign all documents in place of the deceased own, to include all the closing documents encumbrances on any property, tax documents and loans. This will satisfy all closings. All net proceeds from the sale of the real property will be deposited into an Estate account. These proceeds can be used to pay all valid claims against the Estate and then the balance distributed to all beneficiaries after the fourth month period has passed or runs out. The probate court will approve and finalize all notices.

You must keep in  mind, that there was no Will to speak of in the above example. Should there be no Will, and you need the money faster than waiting for probate court approvals, we buy houses in Dallas  and we buy ugly houses in Dallas as well. With this type of situation, you will not need to wait for court time frames or approvals. We can close on your time frame or in (5) days if needed. Which ever works better for you. We work with a 3rd Generation Title company who has processed thousands of Affidavit of Heirships which is the only document you will need to become executor of an Estate in Texas. The Affidavit of Heirship is a legal document and allows you to close on any real property of the deceased, in the State of Texas. After which we buy houses in Dallas  and we buy ugly houses in Dallas . No need to wait around for any court to approve.

Now the benefits of how to sell my probate property in Dallas is that only the personal representative needs to sign the sale documents. This again, is only if you decide to go through the probate process. This is only of the property is not sold during the probate process, then the personal representative distributes the home to all beneficiaries using a personal representative’s deed at the end of the probate, again with court approval. This wasted time period is not needed if there was no Will and you contact Robert Buys Houses DFW where we buy houses in Dallas  and we perform all aspects of the purchase legally to abide by the rules of the State of Texas. With that said, we buy ugly houses in Dallas  at a fair price.

Keep this in mind, if the fair market values of any real property is no more than…let’s say $200,000 and the total fair market of the entire Estate is no more than $275,000, then you can use what is called a Small Estate Affidavit in lieu of a full probate. To avoid any need for the probate courts all together, you should have a Revocable Living Trust where again you do not need the courts. Also, the Power of Attorney (POA) can used in this situation. though it must be drawn or created by a licensed Attorney. An experienced probate or Estate Planning attorney can help with these matters to your understanding.

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Now that you have I hope a better understanding of this How to Sell My Probate Property in Dallas better than you once than before, I hope you gives us a call or text, or email or you can go fill out our online form using the website below. I will say we buy houses in Dallas  and we buy ugly houses in Dallas  so when you need to know hoe to sell my probate property in Dallas, you do not need to go through the long agonizing process of probate court. there is an better, faster and easier way to sell your house today!

 

Much Appreciated

 

Robert Buys Houses DFW

robert@robertbuyshousesdfw.com

(214) 723-1304

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