Why Us?
What sets Lamb Probate Realty Team apart?
First, our training.
We have spent many hours in maintaining our education and renew our certifications (with training and testing requirements as needed) so we can continue un-interrupted with our specialized service. Our specialist, Eric L. Lamb, maintains training and certification with two licensing agencies (plus additional probate real estate specialty courses/organizations) – the CAR (California Association of Realtors), and the US Probate Services. The reality is the probate process can be unpredictable and complicated, but we are committed to your case and work behind the scenes as much as possible to resolve any would-be issues.
Second, our experience.
We have sold probate (and trust) estates across multiple counties in Northern California. We are familiar with the State’s laws on Probate/Trust, and are able to navigate the process with confidence. We understand the “Rules of Engagement” with the probate courts and collaborate with your probate attorney to ensure a smooth transaction.
Third, we are committed to giving back.
We want to help people. Even people who have never heard of of us (and never will). We are able and devoted to give a portion of our profits to others who find themselves in rough situations. We believe in helping organizations that provide peace-of-mind, housing, food, and other necessities during these difficult times we live in.
Why do I need a Probate Realtor?
It will save you time, and money, in the short and long term.
It is a wise decision to use a real estate agent for any type of real estate transaction and even more so with a probate property, as it requires additional experience. Even the simplest of probate sales (which for the most part proceeds much like a traditional home sale) has nuanced requirements to fulfill the state’s (and additional county’s) probate laws. If you don’t have a probate agent, you’ll need to rely on your attorney to check over the probate sale documentation to ensure it will be approved by the courts; but Attorney’s fees get expensive when they’re spending hours doing the work we would do as part of our standard service.
What’s That About Probate?
Do I have to wait to sell a property until I’ve finalized the process in court?
No.
You do not need to wait. In fact, it can minimize expenses to the Estate if you sell it earlier in the process – saving the Estate money in mortgage payments, utility bills, and maintenance costs.
How long does a probate sale usually take to complete?
12-24 months (1-2 years).
The average length of the probate sale process in California is longer than the national average. There are many factors which affect the length of the process here: including (but not limited to) demographics & impacted courts.
When do I file a Petition for Probate?
Within 30 days of the death.
The executor named in the will to administer the estate has the sole responsibility of filing a petition for probate and must do so within 30 days of the death of the decedent. If an executor is not named in the will, someone who desires to be the executor should petition the court for probate. See section 8001 of the Probate Code for more information.
What is my main responsibility as Personal Representative of an Estate?
Caring for the estate.
You are responsible for caring for the estate while going through the process laid out in the will. This means securing the property from break-ins or from past residents with keys. Businesses and rentals must be maintained as well. You must also do an inventory of all the property of the estate. The inventory list (form DE-160) and attachment page (form DE-161) are available on the county’s court website. Any expense incurred with protecting and preserving the estate property during the process is considered an expense of the administration and usually comes out of the assets of the estate.
What is an “OverBid”?
An offer that is higher than the previous offer accepted by the personal representative.
After obtaining the initial offer, the personal representative presents this bid to the court for approval. This is known as a confirmation hearing. At this hearing, another purchaser can come forward and attempt to purchase the real estate for a higher price. The overbid must be higher than the original bid and follow a specific calculation/formula to be considered by the court.