Probate House for Sale | Real Estate Terms to Know

Kim Ward, a real estate broker in San Diego, specializes in helping executors, administrators, and trustees with probate and trust property sales. In her blog and video, she introduces key real estate terms that personal representatives should know when managing a probate or trust sale. She explains the importance of having an estimated seller proceeds document, which outlines all closing costs, including commissions, title, escrow fees, and any necessary repairs. Kim also highlights the role of escrow, a neutral third party that handles the details of the transaction, and the preliminary title report, which identifies any liens, debts, or easements on the property.

She further discusses key contingencies, such as inspections, appraisals, and loan approvals. Buyers are given specific timelines to complete inspections, and Kim emphasizes her involvement in the appraisal process to ensure the property's value matches the contract price. By closely monitoring these timelines and contingencies, Kim ensures the sale proceeds smoothly and without surprises. She encourages viewers to return weekly for more educational content on probate and trust real estate.