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How long do you have to wait to sell a St Louis probate property?
Hello. In this video we will be discussing how long you have to wait to sell a St Louis probate real estate property. The short answer is, it depends. Yes, a piece of real estate can be sold while in the probate process. The property may be sold the same way as traditional houses via the open market in the MLS by a Realtor, or sold to an investor or cash buyer if the property or situation dictates a faster, hassle free probate sale.
Understand, selling a probate property is a complex process and the money from the sale may go towards estate debts, probate expenses, insurance fees and other estate obligations before it is distributed to the heirs.
In your probate situation several items may impact the timeline for the eventual sale and closing.
• Did the decedent have a will?
• Is the will being contested?
• Is there any legal action against the property?
• Does the property have any liens or judgements?
• What is the value of the real estate in relation to the overall value of the estate?
Assuming that none of these negatively impact your ability to move forward there are four steps in selling a probate property in Missouri:
1) Appointment of a Personal Representative via Letters Testamentary or Letters of Administration.
2) Appraisal of the property
3) Petition of the County Circuit Court requesting to sell the property
4) Asking the Court for sale approval
I'm a licensed real estate broker in the state of Missouri to assist you with the marketing and sale of the property. And if a cash sale is the path of choice, I can offer you a fair cash offer and close per the timeline dictated by the Court. I recommend that you consult with an attorney regarding the time frame required to sell an estate property. Please feel free to give me a call at 314.926.1980 and visit our website at StLouisProbateServices.com for many more probate resources. We look forward to helping you.

Thanks for joining us today. Terry Peterson is a licensed real estate broker/associate in Missouri with MORE REALTORS. Terry is not an attorney or providing legal advice in this video. We recommend that all Personal Representatives and other parties to a real estate transaction consult with legal and tax counsel before signing documents. Thanks again for watching and we look forward to helping you at StLouisProbateServices.com.

https://www.stlouisprobateservices.com

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