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Category: probate

  • How To Sell a Probate Property in Cincinnati & Dayton

    After facing the loss of a loved one who didn’t have a will or investments protecting against the process altogether. To sell a probate property can mean long drawn out proceedings, especially with larger estates. 

    It can be costly to go through, so avoid making the mistake of skipping any of the legal requirements which can further tie up your property. You’ll need to be patient as the assets of the deceased are analyzed and the rightful inheritors of the estate are determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds evenly among those beneficiaries.

    Should you find yourself in this position, read on for information on how to sell a probate property in Cincinnati & Dayton.

    Certain aspects of this real estate law are common among all jurisdictions, for a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property in Cincinnati & Dayton.

    How To Sell a Probate Property in Cincinnati & Dayton

    Certified Appraiser

    Your first step will be to locate an independent certified appraiser. You can either reach out through phone listings or word of mouth among probate property real estate professionals in  Cincinnati & Dayton.

    Petition

    Once you’ve obtained your certified appraisal, you’ll next want to proceed by filing a petition with the court to sell the probate property in Cincinnati & Dayton. While filling out your petition, be certain the information includes any pertinent information about the property along with the method that will be used to complete the sale, be it at an auction or on the open real estate market. Submit your petition along with your certified appraisal. Once you’ve obtained the court’s approval, you may then proceed with the sale.

    Offer the Property

    For sale, with conditions! Now that you can finally take action and sell your probate property in Cincinnati & Dayton, you’ll want to make certain to disclose to your potential buyer that the court’s confirmation of the transaction is required before you can accept, making the offer conditional.

    Court Confirmation

    Commonly, once you’ve petitioned the court for a hearing to confirm your sale, you can expect delays on the court calendars ranging from between 20 to 40 days, from the filing date.

    Deposit

    Plan to collect a 10 percent deposit from the buyer at this time, which is based on the purchase price.

    Advertise

    Because the ultimate goal of the sale of a probate property in Cincinnati & Dayton is to garner the highest amount possible for the estate, you must advertise your court hearing to the general public for a process known as open bidding. This allows any additional interested parties to participate in the purchase of the real estate, aiding in raising the final purchase price.

    Court Hearing

    Now you’ll need to attend the court hearing and wait until the unconditional bidding has concluded and a cashier’s check is presented for the final figure. Your buyer will be able to participate along with any member of the public who so chooses, bids increase by $500 at a time. 

    Refunding the Deposit

    Should a new buyer overbid your buyer during the court proceedings, be prepared to refund their 10 percent deposit. Otherwise, should your original buyer maintain the highest bid, the funds you previously collected from them would be applied to the purchase.

    Closing

    Finally, you can close on the contract for your probate property in [markte_city]. Be certain that the costs of the property are covered by the financing. You’ll also be responsible for placing the full amount into the estate fund.

    We’re here to assist you during this difficult time and make the process easy. Call Ohio Cash Buyers LLC today at

    or send us a message to sell a probate property in Cincinnati & Dayton.

  • Sell Inherited Property: The Tired Landlord

    The house was a rental. She had inherited the property from her mother-in-law. The renters that were living in it were not paying their rent. She didn’t know exactly how to handle the situation – she’d never had to evict anyone before, and she didn’t want to have to sink the time and money necessary to go through the whole eviction process to remove her bad tenants.

    The house needed work, too. Her late husband had started trying to do the repairs himself, but there was still a lot left to fix, and the tenants hadn’t done anything to make the condition of the home any better. In fact, they had just made it even worse. What was she going to do? How do you sell a house with bad tenants in it that needs repairs? How do you sell a house without paying commissions? Can you sell a house like that fast and walk away better for it? She felt stuck!

    Selling an inherited house wasn’t something she did every day. Her options at this point seemed to be:

    • Evicting the tenants through an attorney, then spending thousands of dollars on repairs, then listing it with a Realtor, then hoping it sells. Wow. That’s at least several months of stress, hassles, and worries, not to mention the actual financial commitment! How long would it take to evict (five weeks or more, read more about Ohio evictions) ? How much would that cost? After that, how long would the repairs take to complete? How much would that cost? What if the contractors did bad work or took forever to finish? Then she’d have to list it with an Agent, and how much would that cost? How long would it take to find a buyer? What if the buyer required her to do even more work to the home? What if their lender fell through and she had to start the actual selling process ALL OVER again?? This was NOT what she wanted to do.
    • Ignore the problem until the city condemned the house or the tenants managed to destroy it entirely. Geez, that would be horrible. She still had to pay taxes on it. She was running deeper and deeper into the red with each passing month.
    • Find a homebuyer willing to buy houses as is. If she could skip the eviction process and the repairs, and find someone who would buy an inherited property without repairs, then she could get out from under this house!

    “We buy houses for cash, any condition, any situation! Get a fair cash offer for your home, no obligations.”

    She read the words several times before she decided that it was worth her time to talk to us and see exactly who we were and what we were all about. She was skeptical at first, of course. It sounded too good to be true. Were there really “professional” homebuyers around that bought houses like hers for cash for a fair price? Since there were no obligations, she had nothing to lose by chatting with us.

    Tony answered her call. She explained her whole situation after he reassured her that we were real and truly local. He was no stranger to this type of situation, and he knew exactly how to help! Yes, we could buy the house as is, in its current condition, and we wouldn’t ask her to do any repairs. Yes, we could buy an inherited home with bad tenants in it and she wouldn’t have to worry about them. Yes, we could close in one week or in ten weeks. Yes, we would be paying cash for the house. Yes, we would be walking her through every step until closing!

    I needed to get out. Get from underneath it – it was a big weight on my shoulders. And you made it so easy, the next day I felt like… the weight of the WORLD had been taken off. SO easy, thank you!”

    We buy houses like this every single day in the Cincinnati and Dayton regions. It doesn’t have to be complicated. It doesn’t have to be stressful. Now she feels a HUGE sense of RELIEF. We are very happy that we were able to help, and we look forward to speaking to YOU if you ever find yourself in a situation similar to hers, or the many others we’ve worked with over the years!