This is our February 2020 Santa Clara County probate home sales activity report. The data consists of homes sold in probate and homes sold in trusts. There were no conservatorship sales in the month of February.
There is a legal process an executor and administrator must follow to administer an estate. The process includes, among many other things, how to sell a home in probate.
This report is comprised of statistical data from February 1, 2020, through February 31, 2020, extracted from MLS Listings “MLS” as of March 1, 2020.
The data includes single-family homes, condominiums, and townhouses and may not include “off-market” sales. On “off-market” sale is when the property is sold without listing on the Multiple Listing Service.
Probate Real Estate Sales in Santa Clara County in February 2020
The breakdown of the probate property sales activity is as follows:
- There were 5 homes for sale
- 5 single-family homes
- 5 probate
- There were 14 pending sales (under contract)
- 10 single-family homes
- 2 townhouse
- 2 condominiums
- 13 probate sales
- 1 trust sale
- There were 5 homes sold
- 5 single-family homes
- 3 probate sales
- 2 trust sales
DISCLAIMER: All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Highest Priced Home Sold
The highest price home sold was a single-family home located in San Jose in the 95125 zip code sold by the successor trustee. The 71-year-old home has 3 bedrooms, 2 bathrooms, 1,766 square feet of living space on a nearly 12,000 square foot lot. It first listed for sale on December 28, 2019. The list price was $1,625,000. It was reported pending on January 19, 2019. The home closed escrow on February 14, 2020. The final sales price reported was $1,525,000, $100,000 below the original list price.
Lowest Priced Home Sold
The lowest-priced probate home sold was a single-family home located in San Jose in the 95116 zip code. The home has 3 bedrooms, 2 bathrooms, approximately 1,054 square feet of living space on a 2,640 square-foot lot. The home is 35 years old.
The home listed on October 15, 2019. List price $524,888. The MLS reported pending status on November 12, 2019. On February 7, 2020, it was reported sold. The final sales price reported was $550,000 which is more than $25,000 above the list price. This was a cash sale.
How to Sell a Probate Real Estate in Santa Clara County
The process for an executor or administrator selling real property in the Santa Clara County Superior Court starts with the attorney filing a Santa Clara County petition for probate using California probate forms. The process is administered by the Santa Clara County Probate Court.
At the hearing, the petitioner asks for authority from the court to administer the estate. The authority granted by the court depends upon if the person died with a Will, or Intestate without a Will, and if Full Authority is granted under the Independent Administration of Estates Act or IAEA.
In the video above, the process of selling probate real estate under IAEA is explained. When selling probate real estate independently, you can find a real estate agent, you can list the property, you can sell it and you can close escrow all within a very normal amount of time. It is prudent to hire a trained, experienced, and certified probate real estate specialist.
It is not the case when you have a proceeding that is heavily supervised by a judge. There are reasons the judge may not grant full authority.
Having the full authority to act does not mean that the process is easy or can be accomplished quickly. Read our page How long does probate take in California to learn more about the timeline.
Successor Trustee Selling a Home
When a successor trustee sells a home held in trust, as a certified trust specialist, it is our best practice to confirm the title to the real property is titled in the trust. We also confirm the representative capacity of the person selling the home. Once we get all of the necessary documents we can execute a listing agreement and open escrow.
There are some seller disclosure exemptions when selling a home in a trust. We go over the process with our clients upfront to ensure they understand what is expected of them as well as all of the details we manage.
We are real estate specialists in probate property sales. That means selling probate properties, trust homes, and property under conservatorship. Over the years we have helped many executors and successor trustees sell homes.
Understanding the challenges people face, we know a higher level of service is needed when representing an estate. That is why we focus on high-touch service versus a high volume of sales.
Experience does make a difference. Kathleen Daniels, Broker, CPRES, has extensive probate Realtor training. The core of her business is probate real estate sales.
The number of clients we work with are limited to ensure we can provide all clients with the highest level of representation. Working with out-of-state and out of area clients requires more time.
We track probate property sales in Santa Clara County probate court because it is important that we keep current keeping our fingers on the pulse of the Santa Clara County Probate market.
When you need help, call Certified Probate Real Estate Agent, Kathleen Daniels at 408-972-1822, or contact us and request a consultation.