Buying and selling of real estate is big business in any economy in the world. As a population increases, more real estate is needed. Despite this fact, real estate transactions can still be very risky propositions, especially when it comes to probate property, if the prospective buyer doesn’t understand the probate process for a house in Portland OR.
So what is a probate anyway?
A probate is a legal way of administering the property of a deceased person (decedent) if the person never left a will or if the will had specific instructions on how his or her property was to be administered after they are dead. These proceedings take place in probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Portland.
How to begin the probate process for a house in Portland
The probate process begins after a person dies. Soon after this, the seller is expected to inform the court, who will then appoint an attorney to take care of the sale. Once this is done, the attorney advertises the property just like other real estate properties. The price is based on the agent’s suggestion and also from an independent appraisal ordered by the probate court. It is important for the seller to familiarize himself or herself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Portland and that would be Portland Wholesale Property. Click the link here, fill out the form and we’ll help you get started now.
My property is on the market, now what?
After the property is advertised on the market then it is up to the seller to wait for buyers to make offers on the property. Once this process is completed, the final decision is made by the probate court on who should buy the property based on an auction if there was more than one interested buyer. In this case, we would suggest you choose Portland Wholesale Property to purchase your property because as you can see from our website, we have not only given the best deals on probate property in OR but also on short sales!
Want to sell your house in Portland fast?
We have been in this industry for years and our reputation speaks for itself. If you are interested in choosing us as your partner in Portland, you can contact us through our website form, our social media pages, or give us a call at (503) 334-4150. For immediate assistance, you can leave an email message on our site.You can also send us a text message.
We are always here to help walk you through the probate process for a house in Portland, we look forward to speaking with you.
Call us today at (503) 334-4150 to get a cash offer on your inherited house!