[WSBAPT] Probate: Sale of House

[David Faber]

Working a probate in which PR wants to either buy real property owned by
the estate, or wants to sell the real property to a neighbor without using
a broker (good savings!). This is my first time advising a client on
selling without a broker in a probate situation and I want to make sure
that my inclination is correct. Though the house won't be on the open
market, I know we will want to take care to sell the house for its market
value. Toward that end, would it be advisable to get a market appraisal or
comp analysis to determine a reasonable price, then sell the house at that
price? Should I put together a TEDRA agreement between all of the heirs
agreeing to the sale price before it is sold or would a market appraisal or
comp analysis be sufficient to your mind? Any other best-practice advice
this situation warrants?

Much appreciated.

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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