Probate, the legal process of distributing a deceased person’s estate to their beneficiaries, can often be complex and time-consuming. When a loved one passes, they leave behind not only cherished memories but also any property they owned. If they left a will (Testate), the process may be somewhat straightforward; if not, the process can take a bit longer.
If you’re wondering, “Can a house be sold during probate in Allentown, PA?” the answer is yes—as long as certain steps are followed carefully. As experienced real estate investors in Allentown, iBuyLehigh has outlined essential steps to help navigate the sale of probate properties smoothly. Here’s a detailed guide to selling a home during probate, whether you’re the one selling or an investor interested in purchasing probate property.
Arrange for a Property Appraisal
To sell a house during probate, the property must be appraised by an independent, certified appraiser to determine its market value. A local real estate agent or property management company can often help recommend an appraiser. This professional valuation is essential to ensure a fair price and obtain court approval.
For investors like us at iBuyLehigh, a property that has been appraised simplifies the buying process, helping everyone involved make informed financial decisions.
File a Petition with the Court
To initiate the sale, the next step is filing a petition with the probate court. The petition includes all relevant details about the property and the proposed sale method. An independent appraisal report should accompany this form to assist the court in evaluating the property’s fair market value. This step ensures that the sale aligns with legal requirements.
As buyers, we only consider properties where sellers have already obtained a petition. This requirement helps streamline the process and confirms that everything is in compliance with probate regulations.
Place the Property on the Market
After the court petition is in place, you can officially list the property for sale. It’s important to communicate to potential buyers that the property is still under probate and subject to court approval before the sale can be finalized. Real estate investors like iBuyLehigh are accustomed to this process and typically look for properties that comply with these requirements.
If your property meets these conditions, we’d be happy to assess it and may be able to provide a direct purchase option.
Fill out the form to see if your Allentown property qualifies for a quick all cash offer.
Request Court Confirmation
Once a buyer is found, the sale still needs final approval from the court. As the seller, you should arrange a court hearing for confirmation, typically scheduled between 20 to 40 days after the request. Before the hearing date, ensure that the buyer has deposited 10% of the sale price as a good faith deposit.
This step verifies the legitimacy of the sale and provides assurance to both parties. Investors like us at iBuyLehigh work with sellers to confirm the court’s approval and complete the necessary financial arrangements as required by law.
Advertise the Sale in Local Publications
During the probate period, the sale must be publicized in a local newspaper. This public notice serves two purposes: informing the community and allowing other potential buyers to bid on the property during the court hearing. This open bidding process ensures the highest possible sale price is achieved.
For those interested in buying a property in probate, the court hearing provides an opportunity to place competitive bids.
Attend the Court Hearing and Finalize the Sale
The court hearing is where final bids are made, and the sale terms are agreed upon. Once the court confirms the highest bid, the buyer is required to submit a cashier’s check to finalize the sale. If there is a competing bidder, the original buyer’s deposit will be refunded, and the new buyer must make the necessary deposit.
After the court confirms the sale, the contract can be completed, and all final financial arrangements are settled.
Our team is here to help every step of the way. Fill out the form to see if your Allentown property qualifies for a quick all-cash offer, and let us handle the hard work so you can move forward with peace of mind.
If you’re looking for a REAL investor to buy your property in Allentown, then we can help.
Fill out this form or give us a call at (484) 549-0019 for a Fair Cash Offer
// 1) {
for (var t = document.createDocumentFragment(); e.childNodes.length > 0; ) t.appendChild(e.childNodes[0]);
e.parentNode.replaceChild(t, e);
} else e.firstChild ? e.parentNode.replaceChild(e.firstChild, e) : e.parentNode.removeChild(e);
}
function n(e) {
if (e) try {
for (var n = e.querySelectorAll(“.gr_”), r = n.length, o = 0; o