Before real property can be sold through probate or conservatorship, it must be appraised. In California, the appraisal is completed by a Probate Referee, who, in addition to appraising real property may also appraise other estate holdings. (Note that this is a term unique to California. In other states, probate referees are attorneys that assist with the court’s caseload.)
A probate referee must complete an application and examination and are then appointed by the California State Controller and assigned to a particular case by the court clerk. In most cases, the probate referee is never seen by the real estate agent or the seller. They are paid for their services directly by the estate, usually a percentage of the appraised value.
When the real property is offered for sale, the asking price has to be within 90 percent of the probate referee’s appraisal.
Get Help Finding a Probate Referee
To learn more about probate terminology, visit our glossary. To find out more about selling or purchasing real property through probate, trust or conservatorship, contact The Sanborn Team: 310-777-2858.