Probate sales of real property can offer home buyers and investors an opportunity to purchase real estate sometimes for lower than market value.
Probate Sales of real property occur when the property owner dies intestate; dying without a valid will.

As a buyer of probate real estate there are several things to keep in mind
     1.) the property may be subject to overbid.
     2.) the property is generally sold As-Is.
     3.) The property is exempt from several disclosures, among them, the Transfer Disclosure Statement (TDS).
     4.) Contingent buyers are usually not accepted.

In consideration of these factors, probate sales are still a good option for many buyers. There are many probate listings for real property here in Southern California, many of them for sale below current market value.
What type of buyer is suited for obtaining a home through a probate sale?

• Buyers who have a 10% deposit.
• Non-contingent buyers.
• Buyers who have qualified for and obtained proper financing for the home loan.
• Buyers who are ready to complete the sale as many times the escrow can and does close within a very short time frame of the confirmation often as little as 10 days.
  

Why aren't more people interested in property sales in probate? The answer is really one of Realtor education and knowledge. Many times the agent simply does not understand the process and can be overwhelmed at the idea of representing a client wishing to proceed with a probate purchase. If you've seen probate listing's and would like more information, visit my Santa Clarita Real Estate website or contact directly at 661-904-0839