How long does a probate sale take?

Probate sales can take months or a full year – and sometimes even longer. Court approvals, objections from the beneficiaries or heirs, multiple bids and other complications have the potential to draw out the probate process.

Are probate sales cash-only?

Probate court sales may be cash- or cashier’s check-only, but if you’re making an offer to the estate representative, you may only need to put down a 10% deposit in the form of a cashier’s check. As with a regular home sale, a cash offer may be more attractive to the seller. Most of the sales confirmed in court, though, must be completed in cash, as is typical in home auctions .

Can I finance a probate sale?

It’s a lot harder to get a mortgage to finance a probate sale than it is a regular house sale. That’s because probate sales don’t have contingencies , meaning sellers have no obligation to wait for you to secure financing. If the probate property goes to court, you also don’t know what the final sale price will be, so determining your loan amount may be difficult and risky.

What Is A Probate Sale? | Quicken Loans