YES! If you are purchasing the home (Calif) through the Court Confirmed Sale process (Old School) then you or the buyer will need a 10% deposit based on you offer price, placed upfront with the title company or estates attorney. You will then wait 6-8 weeks for your sale to be placed on the court calendar and heard in court. At this time you need to show up if you are planning to bid more if someone else bids at the court confirmation of sale hearing. Any other bidder at that time would have to bid apprx 5% more over your offer. Then it's a bidding process set by the court referree (Judge).
This is the least preferred way to purchase a probate home (Calif) as the Independent Administration of Estates Act (1987) allows us to bypass the court confirmation of sale hearing and close as a regular sale without a 10% deposit or court interference. We can complete a probate sale under the I.A.E.A in 30 days if all parties are cooperating.
This is based on Calif Probate Real Estate and if you are out of CA then your process will be something less than Ca so it's a matter of adjusting. Some States don't have any process at all for selling real estate out of probate.
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