Navigating the Maze: A Guide to Probate Home Sales in Florida

Selling a home in Florida can be intense; the laws are complex and the process is multifaceted. These transactions become even more involved when the property in question is in probate.

In all cases, engaging reputable legal advice when selling a property is advisable. You want to take every precaution to protect your best interests. This step is even more important when you are dealing with property in probate.

Below is valuable information that can help you navigate the intricate maze of a probate home sale in Florida.

What is Probate and How Does it Affect Selling a Home in Florida?

When individuals die, their assets must be distributed. Probate is the court process that oversees this allocation. It is important to recognize that not all real estate property is subject to probate.  In fact, in cases where appropriate estate planning steps have been taken, property is jointly owned, or beneficiaries are correctly designated, probate may be unnecessary.

Unfortunately, estate planning can be complicated; and assets, including real estate, are often owned solely by the deceased and do not have a designated beneficiary.  In cases like this, or when heirs are in disagreement about how assets should be distributed, probate becomes necessary.

Selling a home in probate in Florida is incredibly involved. The process requires multiple steps that must be completed based on mitigating factors including, but not limited to:

• The existence of valid estate planning documents, such as wills and trusts
• The amount of time that has passed since the individual died
• Notification of all beneficiaries and heirs
• Whether the property was the primary residence of the deceased
• Homestead status
• The presence of minor children and/or a spouse
• How the property is titled and its type of ownership (individual v. corporate/LLC).
• Whether the sale requires court approval

If you are a beneficiary of a property in probate and are considering a sale, working with a real estate attorney and real estate agent who is experienced in sales of this nature is an investment in your future.

The Probate Home Sale Process in Florida: A Step-by-Step Guide

An Overview of the Process

Are you looking to sell a probate home in Florida?  If so, consider the process. Below, find a step-by-step overview of what needs to be done.

• Engage a real estate attorney and real estate broker. Working with professionals experienced in handling probate property sales in Florida, such as The Law Office of Carlos M. Amor, P.A., is wise.
• Identify an appraiser to conduct an independent valuation of the property. This is extremely important in all situations, especially when multiple beneficiaries are involved. Having an accurate valuation helps to alleviate questions regarding a fair sales price.
• Obtain probate court approval. This may be necessary to sell the property.
• Enter into the contract process. The personal representative for the estate would need to sign the contract and, in some cases, beneficiaries may be required to sign as well.
• Abide by the waiting period. Once the property is sold, the proceeds may need to remain in an escrow account until the claim period for creditors expires. (When an individual passes away and the estate goes to probate, the probate attorney publishes a notice to creditors offering the opportunity to recoup monies owed.). Additionally, there may be another Court approval required to disburse funds
• Receive the funds. After three months, any outstanding debts will be paid and the remainder of the proceeds will be divided among the appropriate beneficiaries.

Clearly, selling a probate home in Florida is more involved than a regular real estate transaction.  The timeline is longer because the process continues after ownership of the property is transferred.

Important Considerations for a Smooth Sale

The emotions following the death of a loved one are considerable, and the administrative work that must be completed to settle their estate can be overwhelming.  Certain aspects of the situation can make the process easier to manage.

First, and perhaps most important, is whether the beneficiaries are on the same page. This means that the will is not being contested and the involved parties are in agreement about the sale, terms, and pricing. However, if the heirs or beneficiaries are not in agreement additional litigation such as a Partition may be required.

It is also helpful to amass all relevant paperwork at the start of the process. Documents including title to the home, original death certificate, previous real estate contracts, and any other paperwork regarding the property should be easily accessible and available to your Florida real estate probate attorney.

Finally, do everything possible to ensure the property is in good condition. Issues like plumbing and electrical problems, mold, and roof soundness can delay or even derail contracts and negotiations.  Buyers will likely want to inspect the property before moving forward with the sale; unaddressed issues will be identified and may be problematic.

If you want to minimize the aggravation in selling a property in probate, do everything within your power to ensure the process is as efficient as possible.

Professional Advice and Counsel Are Valuable When Selling a Probate Home

Contact The Law Office of Carlos M. Amor, P.A.

Real estate transactions involve assets of considerable value, so even under the best of circumstances, you should engage professional guidance. When the property in question is in probate, the assistance of a Florida real estate attorney who is also a real estate agent is even more important. You must be sure that all steps taken are in accordance with Florida probate law.

Carlos M. Amor provides his clients with outstanding service from a unique perspective.  He is both a Florida real estate attorney and a real estate agent experienced in transactions involving probate properties. As such, he understands the intricacies of these transactions and is well-versed in the multitude of steps that must be taken to close the deal and complete the process.

Real estate transactions are personal, and when they involve a probate property they are even more so. For more than 15 years, Mr. Amor has provided his clients exceptional service. He appreciates the emotions that are involved in transactions of this nature and is well-known for the compassionate manner in which he communicates. As your probate real estate attorney and agent, he aligns his goals with yours. Protecting your rights, your well-being, and your best interests are of ultimate importance.

Contact The Law Office of Carlos M. Amor, P.A. today at 954-453-7200 to schedule your no-cost consultation. Because we understand that life may be chaotic, we are available to meet in person, over the phone, or via video conference — whatever works best for you.