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Probate sale may result without will or other disposition of property

A recent Fox Business article took a look at probate sales and their relative merits from the perspective of a buyer. As far as real estate transactions go, homes sold through a probate sale are often lower priced compared to other homes. There may be some drawbacks to these transactions, though.

From an estate planning perspective, it is important to realize that your home may have to go through a probate sale if you die without a will or without leaving the property to anybody. In that scenario, the state will take over and administer the sale.