The time following the death of a loved one is stressful. If you are the executor of their estate, you’ll have a long list of to-do’s between notifying friends and family, arranging a final disposition, and planning a celebration of life, much less navigating through the grieving process. In the fog of your checklist, it may be tempting to hire a realtor you have worked with in the past. However, you could lose significant time and money by hiring someone who has little probate experience. Consider hiring a Probate Realtor like Jordan Bennett instead.
What is Probate?
According to the American Bar Association, “Probate is the court-supervised legal procedure that determines the validity of your will. All property, debts, and claims of the estate are inventoried and appraised. All valid claims of the estate are collected, and the remainder is distributed to beneficiaries according to the will.”
Fortunately, this process can be made easier by partnering with an organized and efficient professional that can liquidate the estate’s assets in the most profitable and dignified manner. Jordan Bennett & Associates can help you navigate the liquidation process with the least complications for you and your family.
Do I Need a Probate Attorney AND Probate Realtor?
While it’s not required to have both a probate attorney and a probate realtor, it is recommended. Probate attorneys understand the process of liquidating the estate assets; however, they often have their hands full managing the court process. Hiring a realtor whose expertise is solely focused on the sale of the home will help this already-complicated process go more smoothly.
Can’t I Hire My Realtor-Friend?
You technically can, but we’d warn against it.
Due to state probate laws, property sales can be both subtly and significantly different from a traditional sale. Probate sales require different contracts/terms, have unique rules for timing and pricing, require “notice” actions at different stages of the sale, and in some cases, require court hearings to confirm the sale. An experienced probate realtor like Jordan Bennett will understand the actions required in each of these steps that a regular agent might not know. This expertise will prevent mistakes that could delay proceedings and cost more money in the long run.
What to Look for in a Probate Realtor
When considering your options in hiring a probate realtor, make sure they tick all of these boxes:
- A probate-specific marketing plan
- Contract documentation and disclosure forms for real property transactions
- Relationships with probate attorneys and/or law firms
- References of clients they have worked with
There are many other details to consider, but suffice it to say that when it comes to probate, trust and inherited property sales, not all REALTORS® are created equal.
Here are some helpful articles we have written to further help you maneuver through your probate estate:
Full Authority vs. Limited Authority
Importance of a Property Profile
Probate Court Confirmation Sale
Also check out our interview with First American Trust’s Nick Henry as well as Albrecht & Barney’s Jill Kinsey where we discuss trust administration and estate planning to set your family up and avoid the probate experience altogether:
If you have any specific probate questions, fill out our contact form and we’d be happy to help fill in the blanks.