Probate is a court procedure that changes the legal ownership of a property after the owner’s death. Any property they owned is sold by the estate, which uses the proceeds to pay off creditors if any, and to distribute to beneficiaries and family members.
Probate sales can be attractive to buyers because they are oftentimes priced below their market value. However, since a court must approve the home’s sale, the process tends to be lengthier than usual.
For more information on Probate Sales click on the following link:
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379