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51. How To Sell a Probate Property in Hopkinsville KY?

Sell your home in Hopkinsville KY

We buy houses in Hopkinsville Kentucky. We are professional homebuyers in Hopkinsville and we know 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 in Kentucky can mean long drawn out proceedings, especially with larger estates.

cash for homes in Hopkinsville KYIt can be costly to go through the probate process in Kentucky, 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 Kentucky.

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 Hopkinsville KY.

How To Sell a Probate Property in Hopkinsville KY?

Certified Appraiser in Kentucky

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  Hopkinsville KY.

Petition in Hopkinsville KY

Hopkinsville KY house buyersOnce 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 Hopkinsville KY. 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 in Kentucky

For sale, with conditions! Now that you can finally take action and sell your probate property in Hopkinsville KY, 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 in Hopkinsville

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 in Kentucky

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

housebuyers in Hopkinsville KYAdvertise in Hopkinsville KY

Because the ultimate goal of the sale of a probate property in Hopkinsville KY 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 in Kentucky

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 in Hopkinsville

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 in Kentucky

Finally, you can close on the contract for your probate property in KY. 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.

Sell My House in Hopkinsville KY

We are Kentucky home buyers and we offer cash for houses in Hopkinsville in any situation. If you have any questions whatsoever about to sell your house in KY and the surrounding areas, don’t hesitate to reach out to our team! We’re here to assist you during this difficult time and make the process easy.

Call We Buy Property In Kentucky today at (502) 509 - 5676 or send us a message to sell a probate property in Kentucky.

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