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North Carolina Probate Process
In North Carolina, it is not required that real estate be included in probate. However, if money is needed to pay off the decedent's debt the executor can petition the clerk of superior court for the sale of the property.
If the clerk of superior court sees valid reasoning to sell the house he can order the house to be included in probate and sold.
Once the house is sold the money will be placed in an estate account and then used to pay the decedent's debts and expenses.
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Before Selling A House In Probate
Before selling the house there are at least 24 services that may be needed to get the house ready to be placed on the market. In this article, we will discuss what each one is.
Services You May Need To Sell A House In Probate
1. Probate Attorneys
You may need to consult with a probate attorney to understand the legal process of selling the house. The reason you will want to consult with a probate attorney is because he will have an understanding of the requirements for selling a house in probate. Also if there is more than one heir, the attorney can help with any disputes that may arise. They can also ensure that paperwork is correctly filled out and filed with the Clerk of Court.
2. Estate Accountants
An estate accountant can help to prepare the financial statements that are required for the sale of a house in probate. The accountant will also be able to provide advice on any tax implications related to selling the home.
3. Probate Real Estate Agent
A probate real estate agent is an agent who specializes in selling houses in probate. They can provide valuable insight into the market, create a comparative market analysis report, and will also be able to handle all of the paperwork related to the sale. A certified probate real estate agent will have a good understanding of the probate process, timeline, and the necessary steps and actions that you will need to take to complete the probate proceedings. If needed, She will also be able to put you in contact with other professionals to bring you the help you need.
4. Property Appraisers
An appraiser will determine a fair market value for the house. This information is needed to ensure that you receive a fair price for the house when it is sold.
5. Personal property appraiser
If there is any personal property in the house such as valuable jewelry or paintings, it will need to be appraised as well. This is important for setting an accurate value for the decedent's assets.
6. Home Inspectors
A home inspector should inspect the condition of the house before it goes on the market. This will help potential buyers see that there are no major issues with the property, which could affect its value when it comes time to close on a purchase agreement.
7. Estate Sale
An estate sale is a sale of items that were in the house when it was placed in probate. This can be a great way to get rid of any unwanted items and free up space for potential buyers to see how they could use the home.
8. Junk Removal Company
After the estate sale there may still be items left in the home. A junk removal company can be hired to remove any items that are not wanted in the home.
9. Repairs and Maintenance
You may need to make some repairs or perform maintenance on the house before selling it. Any repairs or renovations should be done before placing the house on the market to aide in getting the highest price possible for the house.
10. Cleaning Services
Before potential buyers view a house, it should be cleaned from top to bottom. This will help buyers better imagine what it would be like living in the home.
11. Staging Company
A staging company can come in and set up furniture for potential buyers to visualize how each room would look furnished. It is also a known fact that properly staged homes brings in higher offers than an empty house.
12. Auction House
Some things may be required to be auctioned off. An auction house can be used to sell a house in probate. The clerk of superior courts would need to give permission for the home to be sold this way.
13. Utility Companies
You want to make sure that utilities are left on while the house is waiting to be sold. When potential buyers come to see the house they will need to have lights on so they can get a true feel for the house. Also, inspectors will need the lights to be on as well. If there are still active utility accounts associated with the house after it has been sold, those accounts must be closed or transferred to the new owners.
14. Surveyor
A surveyor will be needed to inspect the boundaries of the land that is associated with the house. This is important for buyers to understand exactly what they are purchasing and for any legal issues to be addressed before closing on a sale agreement.
15. Trash Removal
After all of the items have been removed from the house, a trash removal company should be hired to remove any debris or items that are left behind. This will make sure that the home is ready for potential buyers to view it.
16. Landscape and Gardeners
A landscaper or gardener should inspect and maintain any outdoor areas that are associated with the house. Keeping these areas clean and well-maintained will make them more attractive to potential buyers.
17. Have the house measured
Having the house measured is important to determine the exact square footage of the home. This will help buyers understand exactly how much space they are getting when they purchase the home.
18. Moving Companies
It may be necessary to hire a moving company when it comes time to move out of the home. This should be done after all of the paperwork has been completed and the sale is finalized.
19. Storage Units
If some items are not going to sold, it may be necessary to rent a storage unit. This can help keep things organized and out of the way while the house is being sold.
20. Donation Center
Some items that are in the house may not be wanted by potential buyers or heirs. A donation center can be used to donate those items and help a charity at the same time.
21. Animal Adoption
The decedent may have had pets that will now need a new home. An animal adoption center can be used to make sure that any animals are given a loving home.
22. Vacant Property Insurance
If the house is going to be vacant for an extended period of time while it is waiting to be sold, vacant property insurance should be purchased. This will help protect the house in case of any damagesI that may occur while it is vacant.
23. Locksmith
It may be necessary to hire a locksmith to change any locks on the house. This will help ensure that only authorized people have access to the home while it is being sold.
24. Probate Security Bond
If the executor makes a mistake it could cause financial harm to the estate, heirs, and beneficiaries. A probate security bond will help protect against any such mistakes.
These are the 24 services that you are likely to use when selling a probate home. The goal is to get the home prepared to be placed on the market and to get you the highest price possible so the decedent's debts can be paid and any additional money can be passed to the heirs or beneficiaries.
Sold As Is
In some cases, a home in probate may be sold as is. This means that no repairs or updates need to be done before the house is sold. The executor will be responsible for disclosing all of the known issues so potential buyers can purchase the home with full knowledge of any defects or repairs that may be necessary.
Selling a house in probate can take some time and require certain services. It is important to understand what needs to be done in order to get the best price possible for the home. Having a list of services and understanding their purpose can help ensure that everything is done correctly and efficiently. With careful planning, a timely and profitable sale can be achieved.
It's Not Just About The Money
The most important thing to remember when selling a house in probate is that it’s not just about the money - it’s also about honoring the wishes of the decedent. It is important to keep this in mind throughout the entire process and make sure that their wishes are respected. Selling a house in probate can be an emotional and difficult process, but with some preparation, it can go smoothly.
North Carolina Probate Solutions
If you are trying to coordinate the sale of a home in probate I'm sure you have felt the stress of it. North Carolina Probate Solutions takes this workload off of its clients by coordinating everything mentioned above from start to finish for them. We keep you updated throughout the entire process so you know exactly where you stand in the process.
If you have any questions or would like a free consultation please give us a call.
[Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.]
Certified Probate Real Estate Specialist
Licensed Realtor
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* NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.