When a Court Confirmation of the San Diego Real Estate Sale is Required
Last week I attended a San Diego Court Confirmation Hearing overseen by San Diego Judge Bostwick. The procedure is pretty much the same when the personal representative (PR) for the estate has limited authority to sell the real property, if a beneficiary objects to the sale of the San Diego property or if the sales price of the San Diego probate real estate falls below the required 90% of the San Diego Probate Referee’s appraisal.
The San Diego attorney and the PR should be in court to act on any overbids. The buyer and the buyer’s San Diego real estate agent should also be present. And, of course, as the San Diego Broker representing the estate of the San Diego real estate in probate, the listing agent (me) should also attend.
Any person interested in making an overbid on the San Diego probate property should be at the hearing accompanied by their agent or broker (when represented by a broker). This potential overbidder needs to have a 10% cashier’s check for the amount of the overbid. If they win the bid, the 10% cashiers check would become nonrefundable.
The interesting part is when the judge summarizes the description of the property along with its current terms of sale. The San Diego probate judge opens the floor for overbids. San Diego Judge Bostwick announced the overbid dollar amount three times asking if anyone in the San Diego probate hearing wished to bid on the property. When no one in the San Diego courtroom responded, Judge Bostwick then confirmed the sale to the original San Diego homebuyer.
I’ve helped hundreds of PR’s and have rarely experienced a court confirmation hearing. The San Diego probate court confirmation hearings I have attended have never had an overbid. Why? Because I negotiate a fair market price and terms for the San Diego probate property hence a higher purchase price does not make sense.
If you have questions about San Diego real estate in probate, please call me, Kim Ward at 619-741-0111 or visit www.ProbateAndTrustHelp.com. We can talk about your exact circumstances. Hope this helps!