It's Hard.
We get it, this is an incredibly hard and emotionally charged time and everyone handles it a little differently. From the legal issues to the handling of the distribution of property in the home there is a LOT to think about. With a lot of experience to fall back on, we find the solutions to the issues in front of us and work with you to make solutions as necessary, all with a perspective that this isn’t a normal home sale.
You Shouldn’t Hire a Broker Who Has Minimal (Or Worse!) No Experience in This Space.
List your property with a broker with a full range of services. There are many time-consuming tasks and preparing the property for sale is only one component. Many find that going through their loved one’s possessions may be the more difficult task to complete. Depending on the situation, we can help with a list of contractors/handymen, house cleaners, estate sale specialists, or other professionals who may prove helpful as you move through the process.
An Executor Should Understand That There are Two Types of Probates
Court Confirmed Probate
This is going to be more time consuming and complicated as it requires a court appraisal and a court sale approval.
Informal Probate
An informal probate is typically less complicated and resembles a regular transaction as it does not require court confirmation. Being the most common type in Colorado, you are typically able to sell the property once you have been assigned as the Personal Representative.
Advantages of Probate Sales
No Disclosure Statement Required
The Estate should not be responsible to comply with Colorado’s Real Property Transfer Disclosure law by filling out a Seller’s Property Disclosure. This does not preclude any of the other parties (executors/administrators/brokers) from their obligation to disclose known material defects to buyers.
More of an “As Is” Sale
In a probate sale the property will typically be offered strictly “As Is” without representation, warranty, or covenant of any kind, implied or expressed. The Estate is not liable as to the condition of property or its maintenance.
No Reports
The Estate should not be obligated to inspect the property or provide any reports (inspection/structural/contractor) and the buyer presents their offer based on their own due diligence and shall not rely on any representation of the seller or seller’s broker.
