We were recently asked the following question: Does a 30-day escrow begin at the hearing confirming the sale of a probate property or when the buyer receives the escrow instructions?
Generally the terms of the sale of a property dictate when the escrow shall close. If you read the contract that is used when submitting an offer, it usually states,”[a specific number] days” or 10 days from the receipt of the court order. Once the bid for the sale is submitted to the court, the final terms of the sale are read in court, including how long the escrow period should be. If a buyer requires additional time, the buyer would be wise to indicate that at the time of the sale.
If you have questions, please ask! Give us a call at 310-777-2858 or drop us a line at [email protected]. The Sanborn Team specializes in sales of real property through probate court proceedings or in trust. To learn more about probate and trust real estate sales, please visit our website at sanbornteam.com.