REAL ESTATE NEWS (LOS ANGELES, CA) — When someone passes, and there is no living trust or method to automatically pass the property on to an heir, the local government steps into appoint an administrator, or to sell the property at auction. Here is a link to the L.A. County FAQ page with details covering this process.
A savvy home buyer or investor can participate in the sale of probate properties find out more from this link on the LALoftBlog.com
The L.A. Loft Blog has been notified by the Public Administrator and Guardian of real property available through public auction. The properties are available as is, where is, and are subject to confirmation by the Superior Court. All sales are governed by the California Probate Code. The purchase documents, plat maps, preliminary title reports, and additional photos are available.
The sale process has many stages, and can often take six months to three years to complete. Be prepared for a long wait. Work with an agent who has the probate experience and connections to experienced probate attorneys, to help navigate the process and explain the types of delays that the home purchase may encounter.
Have you purchased a probate property? What was your experience? Comment
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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. EAC220071802KT Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.