5 Things to Know When Buying Probate

1.  Probate properties are sold “as is”.  Do not expect the owner to make repairs or improvements or to lower the price because of existing problems.

2.  Read the disclosures!  For probate sales, there are special disclosure documents so be sure you understand all the terms before you make an offer.

3.  Be prepared in court.  Some probate sales require court confirmation and the timing and amount of the offer and the form in which you make the deposit are all closely regulated.

4.  There are usually no contingencies of probate sales.  The seller does not have to wait for you to find a loan or to sell your existing home so be sure to get advance approval from your lender.

5.  Work with a probate expert.  Select a real estate agent with experience in probate sales in your market.  A probate expert will ensure that your transaction is managed correctly so you get the property and the terms you want.

 

 

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