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Distressed Property: What It Is And How To Invest

AAOA

Short Sales: Short sales happen when a property is sold for less than the outstanding mortgage balance, typically with the lenders permission. Probate Sales: With probate sales, people sell properties as part of estate settlements after the owner has passed away, oftentimes to distribute assets among heirs.

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What Happens to a House in Probate? 3 Common Paths for Estate Property

HomeLight

If it doesn’t fall into one of these exceptions, the general rule is that if someone dies and owns real estate, any property they own is headed for some kind of probate process —will or no will. So what happens to a house in probate? The right agent will have relationships with vendors (e.g. Step one: Talk to an expert!