Los Angeles Probate Real Estate
Often probate real estate can come with an incredibly discounted price. Probate sales happen when the property owner is deceased and no will is in place. As such the heirs or representatives of the estate may to get rid of it quickly and may be more willing to take a loss.
There are huge opportunities to find amazing deals but there are also many stipulations that, without an expert by your side, could make the sale more expensive than you realize. Here’s what you need to know.
Common Stipulations for Probate Sales
Probate law varies from state to state, but there are certain stipulations that can be applied to probate real estate sales in general. Generally, sellers hand over the duties for listing the property to a probate agent. If you are a buyer, there are several stipulations that make buying probate different than a typical real estate transaction:
1. All probate real estate sales are “as is.” You cannot request repairs or change the deal after your offer or bid is accepted.
2. Additionally, you will not be allowed to put contingencies into the deal. If you cannot get financing or if an inspection turns up some hidden problem, you cannot back out of the deal.
3. You can get a break on some of the fees, as many will fall to the seller. Fees like any liens against the property, escrow fees, or outstanding property taxes are generally paid by the seller.
4. Sellers do not approve offers in a probate sale, a probate judge does. Even if your offer is accepted, the property must still go up for auction where you could get outbid before a final offer is accepted. The sale date is usually a month or two after your initial offer is accepted, and you have to appear in court with cash on hand, plus a deposit of 10% of the purchase price.
5. In any real estate transaction, you have to read the terms with careful detail to make sure that you understand your obligations. When it comes to probate real estate sales, it is crucial that you read the disclosing documents before you make an offer.
Bidding on Probate Real Estate
Making an offer on probate property can be very complex. You can do everything right and still lose out on the property, even after having the money ready and having a judge accept your initial offer. Probate properties still have to be auctioned.
Your accepted offer is just the opening bid on the auction date. Someone else can come in and outbid you if they have cash on hand to cover the increase and you do not. The auction will not be postponed and you cannot try to negotiate the price.
Instead of setting the initial price, you could wait and attend the auction and try to outbid the offer price on the day of the auction. Keep in mind that courts do not accept checks. You’ll have to have a cashier’s check for 10% of the opening bid, usually a 10% deposit, and you’ll have to be prepared to pay the difference if the offer price gets bid up at auction.
View some quick links to search probate properties:
Probate Real Estate - Under $500K
Probate Real Estate - $500k-$750K
Probate Real Estate - $750K - $1M
Nothing is guaranteed until the judge closes the bidding and you are the last buyer standing in a probate sale. It’s easy to overbid for a property in the heat of the moment. You may not even agree with the terms. The best way to keep a cool head during a probate sale is to hire a professional agent who can weigh comps, alert you to terms in the agreement, and help you make a winning bid.
Get Help Searching Los Angeles Probate Real Estate from The Sanborn Team
Just finding Los Angeles probate real estate can be overwhelming. There are mayn different ways to find properties, including searching obituaries, newspapers for auctions and listings, or the clerk of courts to search probate records. Or you could get help with your search from The Sanborn Team.
Our search tool makes it easy to find probate real estate in Los Angeles that fits your price range. Search our listings and then talk to our experienced team of probate specialists for more help.
31 Results Found
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33.98396,-118.380284PendingStatus Pending
Listing Price $2,160,0006147 Shenandoah Avenue, Los Angeles, California CA 90056-2020
4 Bedrooms
4 Total Baths
3,620 SqFt0.282 Acresr669618903 34.008261,-118.353449ActiveStatus Active
Listing Price $1,399,0004494 Don Milagro Drive, Los Angeles, California CA 90008-2832
3 Bedrooms
3 Total Baths
1,962 SqFt0.227 Acresr669618903 34.03693,-118.339142ActiveStatus Active
Listing Price $1,049,0002209 West Boulevard, Los Angeles, California CA 90016-1725
3 Bedrooms
1 Total Baths
1,781 SqFt0.152 Acresr669618903 33.986258,-118.357496ActiveStatus Active
Listing Price $925,0005928 S La Brea Avenue, Los Angeles, California CA 90056-1809
2 Bedrooms
2 Total Baths
1,366 SqFt0.137 Acresr669618903 34.236049,-118.318921PendingStatus Pending
Listing Price $899,0008522 La Tuna Canyon Road, Los Angeles, California CA 91352-2245
2 Bedrooms
2 Total Baths
2,088 SqFt0.800 Acresr669618903 34.03838,-118.368126PendingStatus Pending
Listing Price $729,0002206 S Genesee Avenue, Los Angeles, California CA 90016-1007
3 Bedrooms
2 Total Baths
1,586 SqFt0.111 Acresr669618903 33.99392,-118.294378ActiveStatus Active
Listing Price $725,0001118 W 53rd Street, Los Angeles, California CA 90037-3520
3 Bedrooms
2 Total Baths
1,893 SqFt0.119 Acresr669618903 34.118032,-118.339784ActiveStatus Active
Listing Price $719,0006724 Hillpark Drive201, Los Angeles, California CA 90068-2158
2 Bedrooms
2 Total Baths
1,234 SqFt11.698 Acresr669618903 34.026779,-118.344208Active Under ContractStatus Active under contract
Listing Price $700,0003027 Potomac Avenue, Los Angeles, California CA 90016-4130
2 Bedrooms
1 Total Baths
1,216 SqFt0.119 Acresr669618903 34.126549,-118.183121ActiveStatus Active
Listing Price $699,0006234 Hillandale Drive, Los Angeles, California CA 90042-1304
3 Bedrooms
1 Total Baths
1,268 SqFt0.155 AcresOpen 04/27 11am - 2pmOpen HouseApril 27th, 202411:00 am to 2:00 pmOpen HouseMay 4th, 202411:00 am to 2:00 pmr669618903 33.966119,-118.313198PendingStatus Pending
Listing Price $699,0001960 W 80th Street, Los Angeles, California CA 90047-2636
3 Bedrooms
3 Total Baths
1,643 SqFt0.139 Acresr669618903 33.978019,-118.305719ActiveStatus Active
Listing Price $685,0001631 W. 68th Street, Los Angeles, California CA 90047
3 Bedrooms
2 Total Baths
1,007 SqFt0.102 AcresOpen Sun 1 - 4pmOpen HouseApril 21st, 20241:00 pm to 4:00 pmr669618903 33.919979,-118.292022ActiveStatus Active
Listing Price $675,0001002 W 124th Street, Los Angeles, California CA 90044-2932
3 Bedrooms
2 Total Baths
1,674 SqFt0.123 Acresr669618903 33.974301,-118.295019Active Under ContractStatus Active under contract
Listing Price $625,0001132 W Florence Avenue, Los Angeles, California CA 90044-2508
3 Bedrooms
2 Total Baths
1,040 SqFt0.138 Acresr669618903 33.935783,-118.295576PendingStatus Pending
Listing Price $599,0001137 W 110th Street, Los Angeles, California CA 90044-1521
4 Bedrooms
2 Total Baths
1,855 SqFt0.206 Acresr669618903 34.067409,-118.312654ActiveStatus Active
Listing Price $580,000358 S Gramercy Place303, Los Angeles, California CA 90020-4548
2 Bedrooms
2 Total Baths
1,266 SqFt0.516 Acresr669618903 33.961318,-118.259865Active Under ContractStatus Active under contract
Listing Price $570,000823 E 85th Street, Los Angeles, California CA 90001-3628
3 Bedrooms
1 Total Baths
1,385 SqFt0.117 Acresr669618903 33.945404,-118.248688PendingStatus Pending
Listing Price $567,5001457 E 101st Street, Los Angeles, California CA 90002-2834
4 Bedrooms
2 Total Baths
1,575 SqFt0.144 Acresr669618903 33.919929,-118.294855PendingStatus Pending
Listing Price $550,0001122 W 124th Street, Los Angeles, California CA 90044-2934
3 Bedrooms
2 Total Baths
1,331 SqFt0.172 Acresr669618903 33.956445,-118.301631PendingStatus Pending
Listing Price $525,0001436 W 89th Street, Los Angeles, California CA 90047-3416
2 Bedrooms
1 Total Baths
1,126 SqFt0.104 Acresr669618903 33.923875,-118.278227ActiveStatus Active
Listing Price $500,000321 W 120th Street, Los Angeles, California CA 90061-1305
2 Bedrooms
1 Total Baths
1,200 SqFt0.122 Acresr669618903 34.104853,-118.257353ActiveStatus Active
Listing Price $499,0002344 Fletcher Drive216, Los Angeles, California CA 90039-4031
3 Bedrooms
2 Total Baths
1,132 SqFt1.595 Acresr669618903 33.954525,-118.259438Active Under ContractStatus Active under contract
Listing Price $450,000838 E 90th Street, Los Angeles, California CA 90002-1614
2 Bedrooms
1 Total Baths
939 SqFt0.111 Acresr669618903 33.98344,-118.287831PendingStatus Pending
Listing Price $449,999816 W 62nd Street, Los Angeles, California CA 90044-5406
3 Bedrooms
2 Total Baths
1,240 SqFt0.127 Acresr669618903
Based on information from CARETS as of Thursday, April 18th, 2024 02:58:47 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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.