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Prior to Listing
Check with either
personal representative or attorney to:
- Power of Sales: Check if will contains power of
sales clause.
- No Power of Sale: Check if there is no power of
sale in will or no will at all.
- Notice of Sale: See if sale of real property must
be published (attorney to prepare).
- IAEA Powers: See if personal representative has
full IAEA powers.
- Limited IAEA Powers: If personal representative
has limited IAEA powers, attorney must mail Notice of Proposed Action Regarding
Intent to List Property.
- Property Specifically Bequeathed: See if property
is specifically bequeathed. If so, contact attorney.
- Appraisal: Check Appraisal report.
- Exclusive Listing Agreement: Consider exclusive
listing agreement.
Sign Listing Agreement
- Full IAEA Powers: Sign exclusive right-to-sell
list agreement without giving notice (do not need order authorizing execution
of exclusive right-to-sell listing agreement).
- Limited IAEA Powers: Contact attorney to obtain
order authorizing execution of exclusive right-to-sell listing agreement.
Market Property and Accept Offer
- If Sold Using Full IAEA Power: Check if notice of
proposed actions must be sent to heirs/beneficiaries before escrow can close.
- If Sold Using Limited IAEA Powers: If so, court
confirmation required.
Close Escrow
- If IAEA Sales: See if escrow will need
executor's/administrator's deed, copy of Notice of Proposed Action and attorney
opinion letter. Escrow may also require certified copies of proof mailing
notice of Proposed Action Order for Probate and Letters.
- If Court Confirmation: See if escrow will need
executor's/administrator's deed and certified copy of order confirming sale.
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