Selling a House in Probate Massachusetts
If you’re dealing with a property in probate, you may be feeling overwhelmed by the process, but don’t worry—this guide will help explain what probate is and how you can sell a house that’s stuck in probate. Plus, we’ll show you how we at OG BUYS HOUSES can simplify the entire process for you.
What is a Probate?
Probate is the legal process that happens after someone passes away, and their assets (like a house) need to be managed or distributed. The probate process determines who gets what, whether there’s a will or not. There are two main types of probate:
- Informal Probate: This happens when there’s a will, or there’s no dispute over who gets what. It involves minimal court involvement.
- Formal Probate: This occurs when things are more complicated, like when there’s no will, the will is contested, or the estate has a lot of debt. In this case, the court has a much bigger role in the process.
Can a House Be Sold While in Probate?
Yes, you can sell a house in probate, but there are some extra steps. Depending on how the estate was left, the property can be sold by the executor (the person named in the will to handle everything), the court-appointed administrator (if there’s no will), or the court itself if there are no heirs.
Once the court figures out who inherits the property, the executor or administrator can begin the process of selling it.
How to Sell a Probate House in Massachusetts
If you’re dealing with a probate property in Massachusetts, here’s what you’ll need to do:
1. Assign an Executor or Administrator
If no one has been assigned yet, the court will appoint someone to manage the estate. This person is responsible for preserving the estate’s assets and making decisions, like whether to sell the property.
2. Get an Appraisal
You’ll need to know how much the property is worth, so you’ll need to get it appraised. In most states, the house has to be sold for at least 90% of the appraised value.
3. Petition the Court for Sale
Before you can sell the house, you’ll need to file a petition with the court to get approval. This will include the appraised value and the method you plan to use to sell (auction, traditional sale, or selling directly to an investor).
4. List the Property
Once the court gives the go-ahead, you can list the property for sale. You can sell it yourself, hire a real estate agent, or sell it directly to a real estate investor—this is where OG Buys Houses can really help speed things up!
5. Accept Offers and Finalize the Sale
After you get an offer, the court must confirm it before the sale can be finalized. Once approved, the property is sold, and any debts from the estate are paid off.
Common Mistakes to Avoid When Selling a Probate Property
- Moving Too Quickly: Rushing to sell can cause you to undervalue the property. Make sure you get a fair price.
- Skipping Legal Requirements: You must follow all state laws for property disclosure. Missing these can lead to legal issues later.
- Not Hiring a Probate Lawyer: Having an experienced probate lawyer on your side makes the whole process much easier.
- Waiting Too Long: Delaying the process can result in piling up property taxes and other bills.
How OG Buys Houses Can Help
If the idea of selling a house in probate seems overwhelming, OG Buys Houses can make it simple. Here’s how we help:
- No Realtor Commissions: You save thousands by avoiding agent fees.
- No Closing Costs: We handle all closing costs, so you don’t have to.
- Sell As-Is: No need to fix up the property—we buy houses in any condition.
- Fast Cash Offers: We make quick cash offers and can close the deal fast, often in just a few days.
If you’ve inherited a property in probate and need to sell fast, OG Buys Houses is here to help. Contact us today to make the process as smooth and profitable as possible!
Related Articles
Who Buys Houses in Probate?
We do! OG BUYS HOUSES is a direct house buying company that has built our reputation on buying houses for cash with less stress and less fees. Contact us today and get a competitive cash offer for that house or property that’s stuck in probate. We buy homes in any condition. We can help you with the convoluted process of selling a house in probate, making the process faster and as stress-free as possible.