A probate sale can seem like an intimidating process. Probate is certainly not a simple process, and is one that could cause strain on a family. Here are some issues to consider during the probate process:
1. Appointment of an administrator or executor. If someone has been appointed in a will by the decedent, and they are willing to act as the executor, then that person is appointed as such.
2. Sale of the property. The heirs have 15 days to review the notice and pose any objections. If there are no objections, the sale may proceed without a court hearing.
3. The overbidding process: upon accepting an overbid, the buyer must give a 10% deposit in the form of a cashier’s check. The check is given to the executor at the hearing by the winning bidder. A contract is then signed.
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