HOW TO MAKE AN OVERBID ON A PROBATE PROPERTY IN CALIFORNIA?

How to make an Overbid on a Probate Property here in California? - This video will give you a general "Overview" on making overbids on Probate properties which require court confirmation. Court Confirmation is the process by which the probate court has to approve the Sale at a court hearing. At the Court hearing additional buyers who are allowed to bid on the subject property, including the original buyer. The court conducts the overbidding process. The first minimum bid is determined by probate code, (a formula) and the subsequent bid increases are set by the probate judge.

There is a probate process via the IAEA (Independent Administration of Estates Act) in which one does not need approval from the court in order to settle the estate. The court is still involved however there are fewer changes to go through and fewer hoops and restrictions the representatives of the estate. To start the process the personal representative files a will and all necessary probate forms with the court. Once all the necessary paperwork has been approved by the court.

Timecodes
0:00 - Intro
0:45 - when making offer on probate property
1:00 - probate auction at sale confirmation works
1:56 - Overbidders must be present
2:05 - how minimum first bid is determined
2:22 - cashier checks are needed to bid
2:47 - before coming to court find out from listing agent who to make checks to
3:06 - when there are no overbidders what happens
3:38 - in order to make a bid buyer and buyer's agent must be present
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Видео HOW TO MAKE AN OVERBID ON A PROBATE PROPERTY IN CALIFORNIA? канала Win-Win Realtors TV