Quote from @Courtney R.:
Hi everyone!
I'm a new wholesaler, targeting the Southern CA area. Has anyone had any experience with flipping contracts that were probate sales, not subject to court confirmation? Per my trusty AI assistant, this can be done, but I'd appreciate confirmation from someone who has done this before, or is aware of the process.
Thanks in advance!
This is something a lot of wholesalers misunderstand. I'm not an attorney but have worked with a few different ones in Colorado. YES you can sell the house at anytime during probate BUT the Personal Representative/Executor must finish probate to close out all the affairs, debts and obligations of the estate. Real estate is not probate. A house just happens to be apart of probate and it needs to be sold because there was no will identifying who gets ownership. This is why it's in probate to begin with. It's a neutral way to get rid of assets and split the proceeds amongst beneficiaries so there's no bias. Think of estate sales. Why do they have estates sales during probate? Well it's easier to sell all the furniture, painting, collectibles, cars before selling the house. Did those belongings have to wait till probate was finished? Of course not. The judge simply files a motion to approve the sale of the house but that doesn't mean probate is finished.
