Are you navigating a probate sale in New York , here are some helpful steps:
1. Appoint an Executor or Administrator When a property owner dies, an executor (if there’s a will) or an administrator (if there’s no will) needs to be appointed by the Surrogate’s Court to manage the estate ( letters of testamentary established)
2. Get Property Appraised: Hire a professional Appraiser/Realtor to determine the market value of the property. This helps in setting a fair price and is necessary for court approval.
3. List the Property for Sale: Work with a real estate agent experienced in probate sales (that’s JoniRose). Selling “as is”, can be beneficial as you may not know the exact age of equipment in the home ( ie: appliances , roof , boiler etc)
4. Accept an Offer/Contract: Once an offer is made, it must be accepted by the executor or administrator, often with the court’s approval. Important to line up your timeline and bottom line , noting concessions and possessions which will be outlined in a legal binding contract. Establish account for proceeds.
Probates are not a traditional sale and must be conducted with the right structure to achieve the best results. Call me to discuss your options today!
