We put in an offer on a probate with the power of attorney of the estate and it was accepted. Now the attorney for the estate is saying it needs to be listed on the MLS. I’ve never heard of this has anyone else?
I’ve never heard that before either and I can tell you from my experience that is NOT the case. It is up to the executor of the estate whether they want to list with an agent and put on the MLS or not. I had a probate deal under contract just a few short months ago that was not listed on the MLS.
We had a probate under contract last month and it was not listed on the MLS. The seller contacted us via our website.
It’s going to depend upon what is in the will.
The executor of the estate can also decide what is going to be done with the property. My guess is that the executor thinks the property will bring more than what you have offered for it.
Using the MLS will get an appraisal by a widely accepted professional so that heirs will not be able to challenge the sale. Otherwise, there is no legal requirement to place property on the MLS.
Could it be that a judge is requesting it be put on the MLS before he will release it to be sold while in probate? Kinda to protect the PR from themselves?
The executor can sell the property how they see fit. But, if an heir thinks the executor isn’t handling the estate correctly, the executor can be contested AND replaced.
Selling the home at too cheap a price would be easily contested. Putting the property on the market would be wise.
Would listing the property create a situation where the price could go up on you? Hmmm, see how that works?
~Slim~