Top 5 Reasons to Avoid Probate Lawyer Fees
If you recently lost a loved one who owned a home but did not have an estate plan in place, you may be feeling somewhat overwhelmed right now, especially if you have been named the administrator of the estate by a probate court.
At a time when you should be allowed to mourn your loss, you are probably instead having to deal with lawyers, accountants, and a tangle of red tape. As an Investor in the Philly market for 30 years now, I have helped many families with their Probate property and here are the top 5 reasons why would you like to avoid the probate process and the lawyer fees.
1. Probate is expensive.
Around five percent of your estate may go to pay legal fees during the probate process. These fees include your executor’s fee, attorney charges, court costs and other expenses such as having the property appraised.
For their services, both the lawyer and your executor will be entitled to fees from your estate.
- Executor fees. It’s common for the executor to waive the fee, especially if he or she inherits a substantial amount of your property.
- Attorneys’ fees. In many states, probate fees are what a court approves as “reasonable.” In a few states, the fees are based on a percentage of the estate subject to probate. Either way, a probate attorney’s fees for a “routine” estate with a gross value of $400,000 can easily amount to $20,000 or more.
On the other hand, if you will consider selling your probate property to us, here’s what I can offer:
- All cash price
- No commission
- No title fees
- No closing cost. I cover all the cost of purchasing
- No repairs or rehab needed
2. The probate process is slow.
Since probate is a process controlled by the courts, it usually proceeds very slowly; while it can theoretically be completed in six months, in most instances probate takes from one to three years. It can take even longer if the estate is a complicated one or if any of the heirs are contesting the will, even the most simple and uncontested probate proceedings can take many months to a year.
If you decide to sell your house to us now, we can guarantee to close within 7-10 days.
We can help you to save more time and get started on getting your life back on track.
3. There are court requirements when you decide to sell your probate property.
Each state has its own probate laws. In some state, the courts have the power of the decisions of the estate administrator. In others, the administrator has the ability to make decisions regarding the sale of the property.
Your buyer should be able to help you understand your state laws and advise you as to whether he or she can make you an offer on the property and you can count on us with regards to that, even in instances where you require a court approval, we can still make you an offer that satisfies the court’s requirements.
4. Probate is a public proceeding.
As with any court proceeding, the court hearings and documents in probate are completely open to the public. For example, anyone who is curious about “John Smith” will, can easily look it up online, which contains detailed information on his finances, property, and his family members and anyone can simply visit the probate court and view or copy probate records, and some courts even make this information available online. If you have any interest in keeping your finances, property or family members secret upon your loved one’s death, you want to avoid the probate process and choose the right people to help you with the sale. Don’t let your grief get in the way of doing what’s right. With the right help, you can make sure your loved one’s real estate is handled fairly after they have passed away and that help is just right in front of you.
With us, selling real estate through probate can be done safely and effectively, because we understand the process and we always make sure that the process is followed the right way.
5. On Selling a Probate Property You will need to maintain the house/property until it will be sold.
With probate houses, this usually is the reality of the situation. Many probate homes are in fairly poor shape, often because the late homeowner was elderly or ill and unable to maintain the property. Selling a rehab property through a realtor requires you to make the necessary repairs to the house and making it presentable to potential buyers.
Selling to a cash investor is usually a better alternative. You should look for one who will buy the house “AS-IS” without any repairs needed from your end. So, we might be the one you are looking for. We buy properties “As-Is” for CASH. You need not worry about the condition of the house anymore.
I have helped many families move forward with their lives after a tragic loss. As a cash investor, I can purchase the home without you having to worry about the condition of the property or the possibility of it sitting on the market for months or years. Generally, a cash investor will get you an offer within 24 hours and close as fast as you need or as slow as you want.
Do you own a probate property or know someone who does and needs an all-cash offer right away?
Please fill out the form below and claim your $500.00 towards your closing cost or lead that closes.