Probate is the process of reassigning the property to the beneficiaries after the person dies. When a person passes away they leave their loved ones and their property behind. Sometimes the last will or the Testate is left behind by the person and in some cases it is not.
When someone passes away, their property must be legally transferred to the rightful heirs through a comprehensive court-supervised process known as probate. This essential legal procedure ensures proper distribution of assets according to the law.
A common question we hear is, “can a house be sold while in probate in Lubbock Texas?” The answer is that it can be sold if certain procedures are followed correctly. As experienced cash buyers in Lubbock Texas, Electrum helps homeowners navigate these complexities with straightforward solutions that provide fast, fair outcomes.
As solution-focused real estate investors in Lubbock Texas, Electrum guides sellers through the following steps while also providing valuable insights to other investors about the proper procedures when purchasing probate properties in Lubbock. Our goal is to create win-win scenarios that help homeowners regain their freedom during challenging times.
Can a house be sold while in probate in Lubbock, Texas? Yes, but make sure to follow these steps first!
Property Appraisal
Determining your property’s true value is simple with help from an independent certified appraiser. You can easily find a qualified professional in your local phone book or by asking a trusted real estate agent for their recommendations.
At Electrum Properties, we specialize in purchasing probate properties in Lubbock Texas that have already completed professional appraisals. Our cash offers provide a win-win solution that helps homeowners regain their freedom while contributing positively to the community.
Obtain the Petition
When selling a property during the probate period in Lubbock, you must obtain court approval first. This requires completing a detailed petition form that outlines all aspects of the proposed sale, including your preferred selling methods. At Electrum Properties, we understand this process can be overwhelming, but we’re here to help you navigate it with ease.
The next step involves working with an independent appraiser to determine the property’s value. Once you’ve submitted this appraisal with your completed forms, you’ll need to wait for the court’s approval before proceeding with any sale.
At Electrum Properties, we only purchase properties that have already completed the petition process. As cash buyers committed to creating win-win solutions, we carefully verify that sellers have properly obtained court approval before proceeding with any transaction. This ensures a smooth, legal process that helps you resolve your real estate challenges quickly while getting back your freedom.
Place your Property for Sale
The next step is listing your property for sale. Remember to clearly disclose to potential buyers that the property transfer requires court confirmation due to probate status. Legitimate investors like us at Electrum Properties understand this process and can purchase properties pending court petition approval. If your situation matches these criteria, we may be able to offer you a fair cash solution, helping you move forward with freedom and peace of mind.
Fill out the form to see if your Lubbock property qualifies for a quick all cash offer.
Seek the Court for Confirmation
When selling your property in Lubbock, you’ll need to request court confirmation to finalize the sale. Typically, these hearings occur within 20 to 40 days. Remember to secure 10 percent of the purchase price from the buyer before your court hearing date. At Electrum Properties, we understand this process thoroughly and encourage sellers to seek court confirmation promptly to ensure a smooth, cash transaction that solves your real estate challenges quickly.
Advertise in Local Newspapers
Public notification of the sale through local newspaper advertisements is a crucial part of the probate process. These announcements ensure transparency and allow the community to be informed about probate property sales in Lubbock. This open bidding environment helps secure the best possible price for the estate. At Electrum Properties, we regularly monitor these announcements to identify quality probate properties, and can help you navigate this process with our cash buying expertise – whether you’re looking to bid on a probate property or need to sell one quickly for a fair, win-win price.
Attend the Hearing
Participate in the court hearing where bidding takes place among buyers and real estate investors. Once the final agreement is reached, the successful bidder submits a cashier’s check to the court after bid confirmation. If a new buyer emerges, the previous buyer’s funds are refunded, and the new buyer’s deposit is collected following court confirmation. At Electrum Properties, we typically provide a deposit representing a portion of the purchase price to the court once the contract receives official confirmation.
Once these steps are completed, you can finalize the contract with the buyer. At Electrum Properties, we’re legitimate investors who seek properties that follow proper procedures and comply with all legal requirements, ensuring a smooth, fast cash transaction that gives you your freedom back.
If you’re looking for a REAL investor to buy your property in Lubbock, then we can help.
Fill out this form or give us a call at 806-630-0875 for a Fair Cash Offer
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