Your Probate Real Estate Experts In Southwest Florida
Are you charged with settling an estate?
We manage and sell the real estate, at full value, so you don't have to.
Kenneth Allen is your trusted real estate advisor.
What Is Probate Real estate
Probate real estate is property that must pass through a court-supervised legal process (probate) because its owner died without a clear way for the property to transfer automatically to living heirs or beneficiaries. A probate sale becomes necessary when an inherited home or land needs to be liquidated. This usually happens because the heirs want to sell the property and divide the cash, or because the estate needs to be settled to pay off remaining debts and taxes.
How the Process Works
- Appointing a Representative: The probate court appoints an executor (if there is a valid will) or an administrator (if there is no will). This person is given the legal authority to manage the sale.
- Appraisal and Listing: The property is professionally appraised and marketed for sale, often similarly to a standard real estate listing, but with specific disclosures indicating it is subject to court approval.
- Court Confirmation: Once an offer is accepted, the sale usually requires a final review and approval by the probate judge to ensure it is a fair transaction for the estate's beneficiaries and creditors.
- Overbid Process: In certain states, the court allows an open-floor "overbid" process. This means that even after an offer is accepted, other buyers can show up at the court hearing and bid a higher amount (typically a minimum percentage higher) to purchase the home.
Key Characteristics for Buyers and Sellers
- As-Is Condition: Probate properties are almost always sold "as-is". The executor usually did not live in the home and cannot provide the extensive disclosures or make the repairs that a typical seller might.
- Longer Timeline: Because of the required court dates, waiting periods for creditor claims, and legal filings, a probate real estate transaction can take significantly longer than a traditional sale—sometimes stretching into 6 to 12 months.
Kenneth Allen Advisors recommends that anyone charged with the responsibility of settling an estate, contact a qualified attorney or other professional knowledgeable about the legal process before beginning their administration.
Meet The Experts
Kenneth Tribble - Team Leader
Ken has been helping folks buy and sell real estate in Florida for over 25 years. Prior to that Ken was the CEO of a major home builder in the Washington, DC area. With a background as a Certified Public Accountant, Ken brings a certain measure of knowledge, experience and order to your real estate experience.
Ken has served on the MLS Committee in our area for over 10 years, helping to design a system to successfully present your home for sale, or help you make the right buying decision.
Ken has given much back to the community . He has coached youth soccer, basketball, and baseball. He has served for over 5 years as a Boy Scout leader and for 11 years as a high school basketball referee.
Ken can guarantee that your real estate experience will be positive and right for you in every way
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