This article focuses on how much time the sale could take after probate is granted.
We will discuss the probate sales procedure and associated durations for each part of that process. You’ll also learn whether time limits apply.
Stay with us as we unpack the details below.
How Long Does It Take to Sell a House in Probate?
Selling a probate property involves several steps, each with its own timeline. We discuss those steps below and provide the typical time frame for each one.
Petition for Probate: 1-2 Months
The first step in the sales procedure is filing for probate. That involves petitioning the court to appoint you as the estate’s personal representative, enabling you to handle the sale.
Once the probate is granted, you will either serve as an:
- Executor, if designated in the will, which gives you the authority to sell the house.
- Administrator with authority from a court appointment when someone dies intestate.
The timeline for this step can vary depending on how quickly the court processes the petition and any complications, such as challenges to the will or disputes among heirs (let’s say a brother lives in the inherited house and refuses to sell, which is normally resolved by buying the sibling out of the inherited house).
Property Appraisal: 2-4 Weeks
A professional appraisal serves as the basis for the property’s asking price and helps ensure the estate receives a fair return on the sale of the house.
It is usually a required part of the probate sales process, even when selling an inherited house as is.
Factors impacting the timeline include appraiser availability, the need for special assessments, and difficulties obtaining necessary documents to assess the property’s value.
Court Consent to Sell: 1-2 months
In many cases, you’ll need to get judicial consent when selling real estate in probate. An example would be when the will doesn’t specifically address the property’s disposition.
That entails submitting a formal request to the court giving the reasons for selling the property and relevant details about it.
Preparing the petition, issuing notices of intent to sell, and getting on the court docket can take up to 30 days. If the court schedules a hearing, that can add another month.
Readying the House for Sale: 2-8 Weeks
The time it takes to prepare a probate house for sale can vary based on the property’s condition.
If, for example, you’ve inherited a house that needs work, the preparation time will be longer than it would be if the property is nearly market-ready.
If the house needs minimal preparation or you choose not to make repairs, the amount of time you spend getting it ready for potential buyers will be on the low end of the range.
Marketing and Offer Review: 2-3 Months
Comprehensive property promotion and offer review are critical in the probate sales process, ensuring the estate receives fair market value for the house.
That makes tasks associated with vetting and negotiating offers more tedious and time-consuming than standard real estate transactions.
You can typically work through this step in 2-3 months, but the duration can vary significantly based on the real estate market and the property’s location and condition.
Final Court Approval: 1-2 Months
Probate courts commonly review and approve offers for houses sold in probate proceedings.
So, as an executor or administrator, it is your duty to submit a suitable offer with documentation to demonstrate the benefits for the estate.
In addition to the time involved in preparing and filing the petition for court approval, it could take 30 days to get on the court’s calendar and two more weeks to receive a decision.
Closing the Sale: 1-2 Months
Once the court approves the sale, the closing process begins, and it can conclude relatively quickly, barring any complexities within the estate.
This step involves completing final paperwork, handling title matters, finalizing financing if applicable, and conducting the closing meeting.
How Long After Probate Is Granted Can You Sell a House?
Probate is granted once the court validates the decedent’s will (if there is one) and appoints an executor or administrator to manage and distribute the estate’s assets.
While there are a few instances in which an executor can sell a house without probate (for example, most often, a wife can sell her deceased husband’s property), in most cases, you’ll have to wait until probate is open before inherited property can be sold.
After that, selling can typically take up to 12 months under normal circumstances and in a balanced real estate market.
Note that it can stretch well beyond that for a complex estate, if there are significant court delays, or you’re dealing with property condition issues like having inherited a hoarder house.
Fortunately, states generally do not have specific time limits for selling a probate property. However, some jurisdictions may have guidelines to promote timely estate settlement.
How Long After Probate Can a House Be Sold?
There’s no fixed time frame for how long you have to sell a house after probate. Instead, as a beneficiary, you can keep the property as long as you wish.
This open-ended timeline also gives you ample opportunity to evaluate whether you want to rent or sell your inherited house.
When you’ve just inherited a house and are considering selling, you should weigh the financial consequences of delaying the sale.
In addition to the ongoing costs of property ownership, such as taxes and insurance, you could also incur capital gains tax if the house appreciates.
For example, if you inherit the family home with a tax value of $350,000 and sell it significantly later for $450,000, you have a $100,000 capital gain.
That may lead to a hefty bill when it comes to the taxes on selling your deceased parents’ home.
To reduce that bill, you need to understand how to avoid capital gains tax on an inherited house, helping you make the best decision about timing for selling a house after probate.
What’s the Quickest Way to Sell Your Inherited House?
In summary, how long does it take to sell a house through probate?
It can be a lengthy process. At a minimum, you might expect it to take about seven months.
Including the step to initiate probate, the maximum time frame can extend up to 14 months. It may be longer if there are hurdles, such as legal complications or court delays.
To expedite the process, consider selling to professional inherited property buyers.
These investors know how to sell an inherited house in probate and can help you navigate the complexities and streamline the process.
Additionally, they typically purchase homes as is, saving you time and renovation costs.
So, by working with these professionals, you can sell your house fast in probate. This approach also simplifies the sales process when you can sell property before probate.
Get a cash offer now and get the sales process underway.