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PROBATEFAQs(801) 673-6789

Selling A Home In Probate FAQsWhat is a probate? Probate is the court - supervised administration of a decedent’s estate. The probateproceeding involves “proving the will” (if there is a will), appointing the personalrepresentative, determining the decedent’s assets that are subject to probate, payingoutstanding debts and disbursing funds to the beneficiaries. In some cases, thedecedent’s estate includes real property that must be sold under the court’ssupervision. What is the best way to sell a house in probate?By using a real estate agent who is experienced in probate sales. Here is why: 1 - Probate sales usually get lower offers than the traditional home sales. The reason isthe length of the probate sale process. 2 - Probate sales take longer than conventional real estate sales. You will want someonewho has experience negotiating real estate deals, someone who has worked withprobate sales before to be able to successfully negotiate prices for the probate sale. Anexperienced agent can make sure that the process doesn’t take long due to paperworkgetting filed in correctly. An experienced real estate agent is the key to successfullyselling a probate home.www.ColonaeChristensen.com | (801) 673-6789

How long does Probate take inUtah?In Utah, a formal probate for a simpleestate takes a minimum of threemonths because the personalrepresentative must give creditors 90days to file claims against the estateafter notice is published. Unless thereare complications or disputes, mostnontaxable estates take on an averagebetween six and ten months for formaladministration and four to five weeksfor a summary administration.What are some examples of complications with the Probate SaleProcess? The personal representative must also consider some of the things that might affect thevalue of or sale of the real property. For example,is the property subject to a mortgage? Alease or leases? Does someone hold a contract to purchase the property? Or a right offirst refusal? Any of these things may complicate a sale, and are good grounds forconsulting with an agent who specializes in Utah probate.Utah Informal and Formal Probate DefinitionsInformal probate is the process for asking the court to appoint a personal representativefor a decedent's estate without a hearing. This process is usually used when all interestedparties agree about who should be appointed personal representative and how the estateshould be distributed.Formal probate is the process for asking the court to appoint a personal representativewith a hearing, usually because there is some disagreement about who should be thepersonal representative or how the estate should be administered and the interestedparties need to the court to make decisions.For more information, visit https://www.utcourts.gov/howto/informalprobate/How do I prepare my probate property for sale?Your agent will be able to recommend a number of qualified specialists to help youprepare the property for sale if needed, including removing belongings and obtainingprofessional cleaning. Your agent will also assist you in conducting an inventory of the realestate property for sale and in preparing a comprehensive property profile. Your agentwill provide insight and guidance through the whole process. www.ColonaeChristensen.com | (801) 673-6789

How can I choose the best list price?Your agent will provide you with detailed market data, called a Market Value Analysis. Thisincludes the selling prices of comparable and similar homes in the neighboring area. Itwill also include in-depth information on recent sales in the area, such as price persquare foot and the number of days the property was on the market. Your agent will beable to help determine an appropriate and accurate list price that will attract thegreatest number of qualified buyers based on the information in the market analysis.Should I sell my probate home on my own?You also have the option of marketing and selling the property on your own. Keep inmind this only makes sense if you know what you’re doing and can navigate the probateprocess on your own. This also works best if you have the time and skills to market andshow the property yourself. If you go this route, please be cautious of anyone coercingyou into signing specific paperwork or legal contracts that could end up costing you inthe long run. If I hire a Real Estate Agent, how will the property be marketed?Your agent should pursue multiple strategies to expose your property to buyers. Thisincludes signs on the property, newspaper and internet advertising, professionalphotography, staging, open houses for agents and the public and personal networkingamong successful agents who may represent qualified buyers. Your agent will show theproperty to interested buyers and their agents, answer questions about the propertyand will continue to promote the property in order to secure the highest offer. Youragent will communicate with neighbors in the area, keeping them informed about theprice and details of the property. Ask your agent for a marketing plan and forexplanations of how different types of marketing will benefit the listing.We are here to serveyou and answer all ofyour questions! (801) 673-6789www.ColonaeChristensen.com | (801) 673-6789

COLONAE CHRISTENSEN(801) 673-6789www.ColonaeChristensen.com