Probate liquidators buy inheritance assets from estate administrators who manage decedent estates. There are many reasons Administrators sell inheritance property, nevertheless the most common in order to use obtain cash to pay-off outstanding debts or liquidate assets which are costly to maintain.
Real estate is often sold to probate liquidators in order to eliminate monthly mortgage payments and related expenses. Estate executors are chargeable for maintaining real property throughout the probate process. When a mortgage loan note exists, the estate must continue making mortgage arrangements. 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 real estate broker.
It can take months to find a qualified buyer in today’s 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 industry can be complicated, so it is better to work with a probate lawyer to produce proper protocol is followed. Probate is handled differently in 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 should all agree to trade the property. If 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 different real estate including single- and multi-family homes, condos and townhouses, manufactured and mobile homes, rental and vacation properties, vacant land and commercial real assets.
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 appliances.
Many probate liquidation companies offer additional estate services which may be beneficial to estate executors. These can include organizing estate auctions; locate missing heirs and lost property; and locating buyers for rental properties, commercial real estate and businesses of the decedent.
Estate administrators should take time to investigate probate liquidation companies prior to getting into the a contract. Start by checking with the greater Business Bureau to determine if prior complaints have been filed. Check with local government agencies to ensure they is licensed to conduct business and holds proper permits and business insurance. Selling probated property could be emotionally difficult, so be certain are generally 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