Contact Jerrod Butler, Probate Real Estate Realtor in the Colorado Springs area.
Jerrod Butler, Probate Realtor
719-425-9474
Probate Real Estate is a home left after someone’s death that was not in a Trust or didn’t have anyone else with rights of survivorship.
With Probate Real Estate, if the home was not in a Trust, whether there was a Will or Not, and depending on the type of ownership of the home, the home needs to go through the Probate process. The home typically needs to be sold to distribute the proceeds to the beneficiaries or pay off debts. If you find yourself in this position, schedule a consult and I can help walk you through that process.
I am a Certified Probate Licensed Realtor in Colorado that has extensive knowledge of the probate real estate process in Colorado and can help you sell a property for the most money and as quickly as possible.
Schedule a Consult with Jerrod Butler, Realtor
Call me at 719-425-9474 or click the button below
Who can initiate Probate, Can I Do it?
Yes you can do it, there are instructions on the County Judicial website. The question may be do you want to do it? It’s like most things, do you want to hire an Attorney to process the Probate documents for you to make it easier?…or for example, Do you want to hire an Injury Attorney if you are in an accident to make it easier?…And similarly, Do you want to hire a Realtor to sell your home to make it easier? These are questions we typically need to ask in relation to our time, expertise, resources, and state of mind.
No upfront out of pocket costs for Your Probate Realtor or Attorney!
If you are a Do It Yourselfer, then yes you can do it all yourself, or leave it to the professionals to take care of everything for you. I would recommend having one of my partnering Attorney’s handle your Probate process. It typically costs about $2500 in Attorney fees if it is not a complex case. The Attorney fees can be paid out of seller proceeds once the home sells.
You will have to pay the nominal filing fee of $199 with the court and there are a few other fees like $20 for the Certification of Orders and Letters and $0.75 per page for copies of documents, but it is relatively inexpensive. If you have the Attorney do everything, they can just add this to the bill and you can pay in the end. You can also file a motion to file without payment with supporting financial affidavit to the court.
The Initial Probate Real Estate Consult is Free!
With a Will: If there is a Will, then an Executor should be named in the Will, and that Executor could then file a Petition for Probate with the Court. The court will determine if the Will is valid and if so the court will officially appoint the Executor as the Personal Representative to manage the estate.
Without a Will: If there isn’t a Will, then the next of kin would typically be the one to file a Petition for Probate. The court would appoint an Administrator of the estate that would be the Personal Representative to manage the estate.
Basic Steps for Probate Real Estate:
1. Petition for Probate (formal) or Application to Registrar (informal)
2. Hearing Date (formal)
3. Appointment as Personal Representative
4. List the Home for Sale / get Under Contract
5. Final Approval & Closing
1. When can I sell a home in the Probate process?
Once you provide us with a filed copy of Letters of Administration or Testamentary, we can sign a listing agreement. We could alternatively sign a contract to buy the property directly from you if that is an option you desire. However, we’d prefer to sell the home for you to get you the most money possible.
I would need document JDF 915 Letters Testamentary/of Administration authorizing you to enter into an agreement for the estate. You will also need to obtain and provide us a copy of the death certificate. If you do not have that, you can get that from the El Paso County Public Heath department. We can then prepare the paperwork and get started on the process of getting the home sold.
In the Colorado Springs area you can visit the 4th Judicial District website to search for the Judicial forms. You can also go to the Colorado Judicial website Trust, Estate, & Wills page to get the JDF forms. Alternatively to make it easy, you could just let the Attorney handle all that for you.
We Filed Probate Outside of Colorado, But Have a Home In Colorado?
If Probate has been filed in a state other than Colorado, and the decedent owns real estate in Colorado, then we can help you file an Ancillary Estate with the local court here. We would need the following documents, then we can proceed to sign agreements and get the home Sold.
1. Filed copy of the Letters of Administration or Testamentary from that other State
2. Copy of the Death Certificate
3. Filed copy of the Certificate of Ancillary Filing here in Colorado
2. Preparation and Pricing a Probate home for sale?
Preparing the home for sale is something I can help with too. I have done many fix-n-flips and renovations on properties where someone has died in or outside the home. If you have money in the decedent’s account you could renovate to maximize profits. I don’t charge extra to help you coordinate renovations, that is part of our Listing Program. You can also sell the home “As Is”, which most people do.
Often times there is a lot of personal property in the home, you may want to have an Estate Sale. We can put you in contact with partners that do Estate Sales or you can do that yourself too.
3. Other Considerations
Our Probate home is in Foreclosure, What do we do?
This has happened a few times and we’ve been able to help Executors/Administrators save the equity. We have been able to push out the foreclosure date out and get the home sold on the open market. We’ve also been able to help buy the home directly netting more money than at the Foreclosure auction. Depending on the timeline and other circumstances, there is likely a way to save the home from Foreclosure.
Cash Offer, off market sale?
Perhaps you just want to sell it off market for Cash, I can do that too. To make it worth while, typically Cash buyers want to get the property for 70% of ARV (After Repair Value). So we’d have to determine together what the home could sell for in renovated condition. Then back off 30% to account for money put in to the home to renovate it and make a profit. I have my Sell Fast program that accommodates these situations.
We are sorry for your loss, we want to make this as stress free as possible for you. Your Wish. We’ll Make It Happen!®