We buy houses in Haverhill Massachusetts. After facing the loss of a loved one who didn’t have a will or investments protecting against the process altogether, you now have to deal with the home you have inherited from the deceased. Selling a probate property can mean long-drawn-out proceedings, especially with larger estates. As homebuyers in MA, we would be more than glad to help you through such an intricate process.
It can be costly to go through, so avoid making the mistake of skipping any of the legal requirements that can further tie up your property. You’ll need to be patient as the assets of the deceased are analyzed and the rightful inheritors of the estate are determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds evenly among those beneficiaries.
Should you find yourself in this position, read on for information on how to sell a probate property in Haverhill.
Certain aspects of this real estate law are common among all jurisdictions. For a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property in Haverhill.
How To Sell A Probate Property In Haverhill MA
Certified Appraiser In Haverhill
Your first step will be to locate an independent certified appraiser. You can either reach out through phone listings or word of mouth among probate property real estate professionals in Haverhill.
Petition In Massachusetts
Once you’ve obtained your certified appraisal, you’ll next want to proceed by filing a petition with the court to sell the probate property in Haverhill. While filling out your petition, be certain that it includes any pertinent information about the property along with the method that will be used to complete the sale, be it at an auction or on the open real estate market. Submit your petition along with your certified appraisal. Once you’ve obtained the court’s approval, you may then proceed with the sale.
Offer The Haverhill MA Property
…for sale, with conditions! Now that you can finally take action and sell your probate property in Haverhill, you’ll want to make certain to disclose to your potential buyer that the court’s confirmation of the transaction is required before you can accept, making the offer conditional.
Court Confirmation In MA
Commonly, once you’ve petitioned the court for a hearing to confirm your sale, you can expect delays on the court calendars ranging from between 20 to 40 days from the filing date.
Deposit In Haverhill Massachusetts
Plan to collect a 10 percent deposit from the buyer at this time, which is based on the purchase price.
Advertise In Massachusetts
Because the ultimate goal of the sale of a probate property in Haverhill is to garner the highest amount possible for the estate, you must advertise your court hearing to the general public for a process known as open bidding. This allows any additional interested parties to participate in the purchase of the real estate, aiding in raising the final purchase price.
Court Hearing In Haverhill MA
Now, you’ll need to attend the court hearing and wait until the unconditional bidding has concluded and a cashier’s check is presented for the final figure. Your buyer will be able to participate along with any member of the public who they so choose, and bids increase by $500 at a time.
Refunding The Deposit In Haverhill
Should a new buyer overbid your buyer during the court proceedings, be prepared to refund their 10 percent deposit. Otherwise, should your original buyer maintain the highest bid, the funds you previously collected from them would be applied to the purchase.
Closing In MA
Finally, you can close on the contract for your probate property in Haverhill. Be certain that the costs of the property are covered by the financing. You’ll also be responsible for placing the full amount into the estate fund.
Sell My House In Haverhill MA
Dealing with legalities while grieving the loss of a loved one can be overwhelming. We’re here to assist you during this difficult time and make the process easy. If you wish to sell your house in Massachusetts in a faster and more convenient way, reach out to us at New England Home Buyers. We are top-rated MA home buyers who offer cash for houses in Haverhill and other areas in MA. Whether it’s a probate property or a regular home, we can acquire it as-is and close in as fast as 7 days. A direct sale to us will save you lots of time, energy, and money compared to getting a probate property sold via an agent or on your own on top of going through the probate process.