Probate is the process of reassigning the property to the beneficiaries after a person dies. When a person passes away, they leave their loved ones and their property behind. Sometimes, the last will or the Testate is left behind by the person and in some cases it is not.
Whatever the situation, the property is reassigned to the heirs with the court of law, and this extensive thorough process is known as probate.
Sometimes a question arises, “can a house be sold while in probate in Cincinnati OH?“, and the answer is that it can be sold if simple steps are followed.
As real estate investors in Cincinnati and Northern Kentucky, We Buy NKY Houses advises sellers to go through the following steps and also suggests other investors check the procedures when they go for buying property on probate period in Cincinnati.
Can a house be sold while in probate in Cincinnati, OH or NKY? Yes, but make sure to follow these steps first!
Cincinnati Property Appraisal
With the help of the independent certified appraiser, a property can be appraised. We recommend checking reviews on Google, Yelp or other trusted review sites to find a good appraiser. Or, you can ask for a referral or ask you real estate agent.
As real estate investors, we look for buying property on probate in Cincinnati OH that have already sought and performed a property appraisal. This gives us an accurate understanding of the value of the home.
Obtain the Petition
When you are in the process of selling the property during the probate period, you have to seek probation from the court. Fill out the petition form and provide all the details related to the sale of the property in Cincinnati or NKY along with mentioning the methods of sale.
Then with the help of the independent appraisal, fill out the form and wait for the approval from the court.
An investor only buys the property that has already completed the procedure of obtaining the petition, and we look into the fact that the seller has gone through the process of obtaining the petition. Without it, an investor cannot buy your home.
Place Your Cincinnati Property for Sale
Next step is placing your property on sale. Be sure to inform the buyer about the matter that the property will be sold only after confirmation from the court as it is on probate. All real investors only buy the property that is on sale after seeking court petition. If your property matches these conditions ,then we might be able to take it off your hands.
Seek the Court for Confirmation
As a seller, you have to seek the court for confirmation to confirm the sale of your property in Cincinnati. Generally, hearings take place within a period of 20 to 40 days.
Please do not forget to make arrangement and take 10 percent of the price from the buyer before the date of hearing from the court. As investors ourselves, we tend to ensure the fact that the seller seeks the court for the confirmation soon.
Advertise in Local Newspapers
Inform about the sale and advertise it in local newspapers. This is done so that the public is informed about the property sale during probate period. It also allows open bidding for the other interested people so that the property gets the best price.
If you are seeking to buy property on probate period in Cincinnati, you can bid in the court hearings. We often come to know of good property on probate through the local newspapers.
Attend the Hearing
Attend the hearing of the court. This is the place where bids are done and buyers and real estate investors come for bidding. After the final agreement is complete, the cashier’s check is given to court after the bid is confirmed.
If there is a new buyer, refund the money of the previous buyer and take the deposit of the buyer after the confirmation has been given by the court. We tend to always pay some money as a deposit of the original price, to the court after the contract has been confirmed.
After this, you can complete the contract with the buyer after the above-written steps. Real estate investors look for property that follows all the procedures and abides by the rules of the court.
If you’re looking for a REAL investor to buy your property in Cincinnati, then we can help.
If everything you read above is confusing, just give us a call. We can coach you through the entire process and make selling your home as easy as possible.
We understand the stress that can come in dealing with a probate estate, and we know how to help. Call us today at (859) 412-1940.