What is a C.P.R.E.S.?
C.P.R.E.S. stands for Certified Probate Real Estate Specialist. All CPRES designees are required to fulfill probate education requirements and pass an exam to be nationally certified by US Probate Services.org. A C.P.R.E.S. understands the needs of the estate, is able to represent you in court with your attorney, can speak the legal language required in the probate process, and helps you settle the estate quickly.
What is Probate?
Probate is the legal process whereby a decedent’s assets are transferred from the deceased person’s name to his or her estate so they can be distributed to the heirs. Probate takes place in the county of the decedent’s residence. Probates may be a Conservatorship, Guardianship, or Living Trust.
A designated Administrator or Executor, (also called the Personal Representative) will prepare and file a Petition for Probate, acquire a Letter of Administration, send notices to creditors and heirs, pay taxes, sell or transfer assets, make distributions to heirs, and provide an accounting of the estate, among other duties.
The Selling of Real Property
The Letters of Testamentary or Letters of Administration grant the Personal Representative the power to sell the decedent’s assets. Administrative powers may be full or limited. The PR chooses the Real Estate agent who lists and sells the property. Real property is sold “as is”. It is up to the Buyer to determine the condition of the property. A court confirmation hearing is held, where the property is subject to an overbidding. Anyone can bid on the property, starting at 5% of the original offer plus $500. Title is transferred after court approval.
We can coordinate services in the following areas:
- Cleaning of premises
- Personal Property Inventory, Removal, Security, Storage, and Shipping
- Estate and Yard Sale Services
- Eviction Services
- Property Management, Repairs & Maintenance
- Property Inspections
- Professional Contractors
- Probate Market Analysis Reports
- Obtaining Title Documents
- Inheritance Funding
Be sure to contact me for a free Probate Guide and consultation.