If the sale of real estate is necessary, the first step is to choose a real estate agent. In the conservation process, the curator must obtain court approval to sell the property and enter into an exclusive listing agreement. In most cases, the personal representative of a fraudster`s estate is authorized to sell real estate because of his appointment and does not need additional judicial authorization for the sale. In the case of the fiduciary administration overseen by the Tribunal, the decision to appoint the agent or bring the case under the authority of the Court of Justice sometimes limits the selling power provided by the trust instrument. As soon as the transfer power has been conferred by the court, the agent lists the property put up for sale with the selected real estate agent who markets the property. The listing agreement is expected to be included on the California Association of Realtors (“CARs”) Probate Listing Agreement. Perhaps one of the most confusing proceedings in The Probate Court is the judicial sale of real estate, better known as “estate sales.” Judicial confirmation of the sale of real estate is necessary in almost all conservation processes when real estate is sold, and is often required in fraudulent real estate and trust proceedings controlled by the courts. The objective of judicial confirmation is to ensure that the best possible price is reached. After the full marketing of the property, the listing broker will usually set a date to receive offers. All offers to purchase a property subject to judicial confirmation must be filed on the car estate sale contract and on the Joint Escrow Instructions form. The curator, agent or personal representative will check offers with the real estate agent and often also with his lawyer.
As a general rule, all offers must have a down payment of 10% of the offer price. Sometimes the pawn cheque is given to the title company to open the trust on the sale, but often the listing agent requires that the deposit be paid to the trustee in the trust, trust, trust or estate account. Once the sales contract is signed and all contingencies are completed, the attorney will prepare a petition to the court to report and validate the sale. The petition to confirm the sale includes details of the sale such as the purchase price, commissions for the real estate agents involved and other necessary information. The petition also indicates the minimum project overload for all others to offer in the field.
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