Can A House Be Sold While in Probate in Pennsylvania?

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Property Probate In Pennsylvania

The answer to the question “Can a house be sold while in probate in Pennsylvania?” is “Yes.”

But you must adhere carefully to your state’s pertinent rules and regulations. The probate court will monitor every step and all aspects of the sale, and if you’re the executor, you, too, must monitor and approve all the terms of the sale. It can be a complex process, but understanding it will make things a little smoother with the quick house sale

Can A House Be Sold While It Is In Probate In Pennsylvania?

Appointment of Administrator/Executor

Suppose the decedent will designate a specific person as the executor, willing to act in that capacity. In that case, they are officially appointed as the executor. If, on the other hand, no one has been designated as executor in the will, then the court and other relatives will appoint a near relative to act as administrator.

Appraisal

The next step is to have the property appraised. But you must ensure that the appraiser you choose is licensed and reputable. The property must sell at a price of at least 90% of the appraised value, so you need an appraiser who can get it right.

Sale

This is the step where the answer to “Can a house be sold while in probate in Pennsylvania?” begins to become a reality. And you’ll start by having your agent list the house on a multiple listing service, so buyers will know it’s a probate sale.

An interested buyer makes an offer along with a 10% deposit, an offer which you can accept or reject. The offer is subject to court confirmation if you receive it. You must submit the request through your probate attorney to the court for verification. If everyone agrees, a date is set for the sale to be finalized in court.

When the offer on the house in probate has been accepted and confirmed by the court, a Notice of Proposed Action must be mailed to all the heirs. This document states all the terms and conditions of the proposed sale. Heirs then have 15 days to review the notice and raise objections if they have any. If none of the heirs have complaints, the deal can go forward without a court hearing.

Overbidding

Now, here’s where it gets a little complicated. Before the court confirms and approves the original buyer’s offer, the judge will ask those present in the courtroom if any of them would like to bid on the property. If no one does, the sale proceeds in the standard fashion mentioned above.

If, however, there is an overbid, the original buyer’s 10% deposit must be refunded before the new sale at the new bid price can proceed. When the overbid is accepted, the new buyer must put up a 10% deposit, which must be a cashier’s check. This check for the accepted overbid deposit is presented to the executor/administrator at the winning bidder’s acceptance hearing.

Upon court confirmation and approval, a contract can then be signed. But it is a specialized kind of sale contract because it cannot have any contingencies, and escrow closes soon after the hearing, usually within 15 days.

As you can see, some complicated rules exist for selling a house while in probate. It is advised to consider contacting an attorney for more specific assistance! 

We’re ready to help you reach your real estate goals and will be glad to answer any questions. Contact us by phone at [215-359-6090] or complete the online form.

Sell My House Philadelphia | Buying Property 215
Sell My House in Pennsylvania | Buying Property 215
Buying Property 215

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