Probate liquidators buy inheritance assets from estate administrators who manage decedent properties. There are many reasons Administrators sell inheritance property, but the most common is to obtain cash to pay-off outstanding debts or liquidate assets which are expensive for maintain.
Real estate typically sold to probate liquidators in order to eliminate monthly mortgage payments and related expenses. Estate executors are responsible for maintaining real property throughout the probate process. When a home loan note exists, the estate must continue making mortgage payments. Otherwise, the home could be in danger of 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 in our recessed housing market place. When estates are strapped for cash, selling real estate to probate liquidators can bring about a 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 property can be complicated, so it is better to work along with a probate lawyer to produce 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 sanction.
When decedents bequeath real estate to multiple heirs they should all agree to market the property. If one or more heirs refuse to relinquish property rights and also the estate is not able to maintain mortgage payments or related expenses, a probate judge can order the property or home be sold.
Most probate liquidation companies buy all types of 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 variety of valuable inheritance properties. 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 that are 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 belonging to the decedent.
Estate administrators should take time to investigate probate liquidation companies prior to going in a contract. Start with checking with the higher Business Bureau to ascertain if prior complaints also been filed. Check with local government agencies to ensure business is licensed to conduct business and holds proper permits and business rrnsurance coverage. Selling probated property can be emotionally difficult, so be certain are generally selling your family member’s property to a reliable probate liquidator.
The Estate Settlers – The Transition Management Team
Suite F6-273 20423, FL-7, Boca Raton, FL 33498
(561) 207-7654