Establishing the Baseline for Probate Property Sales
Getting to know your Property Profile
Getting to know your Property Profile
If the sale of real property is part of the settlement of an estate, there’s more to it than calling the closest real estate agent. In many cases, the heirs may never have lived in the property, and, in fact, may never have seen it. Even if they have, before they can set a price, they need to find out as many of the ‘facts’ about the property as possible.
A real estate agent will begin this process by ordering a Property Profile from a title company. This document typically lists the size of the property (land and structures), its value, square footage and the owner of record. In other words, it offers a quick snapshot of the property – a starting place for the journey toward an eventual sale.
While the property profile is a valuable document, it may not be complete and up-to-date. For example, if there are liens or existing loans on the property, they might not show on the profile. That makes it absolutely essential for the skilled, probate-savvy real estate agent to follow up with additional research so that the sellers can move through the probate process without surprises or frustrating delays.
If you are selling or purchasing real property through probate or trust, The Sanborn Team can offer skilled, friendly guidance and nearly 30 years of probate-smart experience. Visit our website – http://www.sanbornteam.com/ – and give us a call at 310-777-2858.
