Ann Arbor Real Estate Attorney

In California Probate Real Estate, if selling the probate home under the Independent Administration of Estates Act (avoid court) we have to go through a process called the Notice of Proposed Action. This is the notice the estate attorney prepares and sends to the heirs that the executor has sold the estate property for $X amount of dollars and the sale will not be going to court for confirmation. The heirs have a 20 day period to contest in writing and if they do the sale stops and it must now be a court action. As a Probate Agent you need to know this as this will allow you to close your probate sale in 30 to 45 days. Great way to speed thing up.

This blog post is about closing in 15-30 days as we have had quite a few All Cash sales recently and our clients want to close fast. Many investors and real estate agents just don’t understand how you can avoid the court confirmation process and close quick which will attract more investors and end user buyers to you if you are a real estate agent wanting to work probates like I do. This is also good information for investors who are trying to go direct to the estate to buy probate homes but again unless you know what you are doing the failure rate is high. Once I’m in escrow with a probate I have about a 90% close ratio but again I have been doing this for 23 years and understand the process and how to get around it for my clients benefit.

For you newly interested probate agents to be, when you deliver the signed offer (by personal rep or executor) to the estate attorney you will include an addendum we use and direct the estate attorney to prepare a “Waiver of Notice”. This will allow us to not only go through the IAEA (other language I use on the addendum) but we will also be avoiding the 20 day Notice of Proposed Action time line. I will follow up with a email or phone call to the attorney and let he/she know I spoke with the executor and heirs and they all want to close as fast as possible and have all agreed to sign the “Waiver Notice”. Of course as the Probate Agent you have to control all this and convince the executor to speak with the heirs or gather them all together, if possible, and address it yourself. This is part of being successful in the Probate Real Estate business and something you will want to include if you decide to add probates to your business plan.

Again as a 23 year Probate Agent I have learned all this by trial and error (losing deals) so you don’t have to reinvent the process just learn it. Call me if you are interested in more information on being a Probate Agent or Investor I love to talk about this subject.

Gary DiGrazia Sr
ReMax In Motion Real Estate
http://www.GaryDTeam.com
http://www.probate-realestate.com

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