Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

28
Posts
0
Votes
Carlos Pena
  • Specialist
  • Indianapolis, IN
0
Votes |
28
Posts

How long can probate

Carlos Pena
  • Specialist
  • Indianapolis, IN
Posted
How long or how soon am i able to put house under contract if it hasn’t been through probate? if it HAS been through probate , then the process should be just as simple if it were a regular HOME OWNER ??
Account Closed
  • Austin, TX
59
Votes |
79
Posts
Account Closed
  • Austin, TX
Replied

Why is home owner in all caps

Account Closed
  • Specialist
  • Paradise Valley, AZ
2,934
Votes |
3,447
Posts
Account Closed
  • Specialist
  • Paradise Valley, AZ
Replied
Originally posted by @Carlos Pena:
How long or how soon am i able to put house under contract if it hasn’t been through probate? if it HAS been through probate , then the process should be just as simple if it were a regular HOME OWNER ??

 If it is through probate, there is a new homeowner. Probate doesn't make any difference at that point. Just treat it as any other property, with "perhaps" a motivated seller.

However, if it is IN probate, you have to wait until the judge signs the paperwork, 3 months? 12 months? 5 years? It all depends...

There is a bit more to it, but that is the general idea.

Steadily logo
Steadily
|
Sponsored
The Best Property and Liability Insurance for Rental Properties. Great rates and tailored coverage specifically for short, mid, and long-term rentals.

User Stats

28
Posts
0
Votes
Carlos Pena
  • Specialist
  • Indianapolis, IN
0
Votes |
28
Posts
Carlos Pena
  • Specialist
  • Indianapolis, IN
Replied
@Mike M. I was meaning the house hasn’t been through probate yet. And basically i must wait for judge to sign before anyone can sign a purchase agreement contract??

User Stats

3,409
Posts
4,012
Votes
Charlie MacPherson
  • China, ME
4,012
Votes |
3,409
Posts
Charlie MacPherson
  • China, ME
Replied

@Carlos Pena  If the home has net been probated yet, you don't know who the eventual owner would be.  That's the purpose of probate.

You could put it under contract pending the court issuing the license to sell, but you would be guessing at the outcome of probate.  

If you guessed right and put it under contract with the right person, you might beat the crowd of investors and Realtors who market to probates.  If you guess wrong, you will have a contract with someone who doesn't own it.

If you go that route, be sure that your contract has language to protect you and that deposits are held in an escrow account.  You should use a real estate attorney for this.