 TITLE: What Is a Probate Sale? CONTENT: How a Probate Sale Works\n------------------------\nIt isn't out of the ordinary for a homeowner to die with debt in their name. If they had a will, there should be an executor who's been named to manage their estate accordingly. These duties can include distributing assets to beneficiaries, paying creditors or selling a home belonging to the deceased if a probate sale is in order. In cases where there is no will, the court will typically handle the sale itself or appoint an administrator of the estate to do so. Either way, a real estate agent may be brought in to show the property and help coordinate the sale.\nProbate properties are generally sold \"as is.\" In other words, buyers hoping to negotiate that certain home repairs be completed prior to purchase aren't likely to succeed. This kind of take-it-or-leave-it arrangement isn't a good fit for all buyers, but the upside is that you're more likely to land a sale price that's below market value. Just be aware that putting in an offer is often the first of many steps when buying a probate property. If the home is being sold by the executor of the estate, the court may still have to approve your bid before moving forward.\nYou also may need to come up with more cash upfront. You'll likely need a deposit of at least 10% ready to go in addition to your down payment, according to the National Association of Realtors, though these extra funds can be added to your down payment at closing. Things may be different if the property is being sold by the court, as opposed to a will's executor. In this case, the sale could be structured like an auction where the highest bidder must pay with cash or check. END