How To Buy And Sell Real Estate From An Estate
Have you ever wondered what it means to buy or sell estate property? Are you interested in buying real estate that is being sold by an estate?
At Falzone & Wyler in Media, Pennsylvania, we have decades of experience representing both buyers and sellers in real estate transactions involving estates. Our clients benefit from our knowledge of the process. You can reach us by phone at 610-726-1634, toll free at 866-986-5647 or contact us online.
Buying Real Estate From An Estate
Buying real estate from an estate is not the same as a typical real estate transaction. Some of the differences arise from the fact that you are buying from a legal entity, not an individual or couple. The estate may or may not have information and history that is important to the prospective buyer.
At Falzone & Wyler, we know the nuances and intricacies of buying real estate from an estate. Based on our many years of experience with estates and estate administration, our attorneys:
- Know where to look for potential problems that could expose you to risk, including foundations, roofing, furnaces, flood plain locations, and water and sewer service.
- Examine the title to ensure that the “seller” of the property is legally authorized to sell the property. This can be a complex issue when dealing with an estate and multiple heirs.
- Negotiate with estate representatives for the best possible price.
The downside of buying from an estate is that — with multiple parties involved on the side of the estate — it can take longer than buying from an individual. From our experience on both sides of estate transactions, we can advise our clients on how to proceed and what to expect.
Selling Real Estate From An Estate
Estates and the people they represent typically want two things from real estate transactions:
- Sale of the real estate in a timely manner
- Sale of the real estate for a fair price
To sell in a timely manner, it is important for the estate administrator to communicate with all individuals who have rights in the real estate. To avoid delays that could jeopardize a sale, the estate administrator must ensure that all parties are in agreement about important issues, such as the minimum price they will accept.
Regarding market prices for real estate, our attorneys know what needs to be done to properly prepare for a sale. We know what condition the property should be in. If real estate is in “estate condition,” we know how to adjust the price.
Our Office Is Conveniently Located
The Falzone & Wyler office is located across the street from Media Borough Government Center and is within walking distance of the courthouse. Our location is convenient to the blue route and major arteries, and we have free parking on-site.
How To Contact Us
Do you need an attorney who knows how to handle real estate transactions from estates? Contact the law firm of Falzone & Wyler in Media, Pennsylvania, today. We offer a free one-hour consultation to all new clients. You can reach us by phone at 610-726-1634, toll free at 866-986-5647 or contact our lawyers online.