Probate Property Guide: Inside 211 Vasquez, Riverside
From required steps to renovation potential, here’s what you should know before making an offer.
Listings are starting to rise, and we’re excited to share our newest one, but this time, it’s a probate sale.
In the simplest terms, probate happens when someone passes away without a will or trust. The courts call this “intestate”, and it often occurs when someone doesn’t put the proper paperwork in place to ensure their home or personal property goes to the person they intended.
When purchasing a probate property, there are a few important things to know:
- Authority matters. The court may grant the personal representative (PR) limited or full authority to handle the estate. With full authority, the PR can sell the home without additional court approval, a smoother process for everyone involved.
- Disclosure is still required. While the PR may not know every detail about the property, they must disclose what they do know, such as if someone passed away in the home within the last 3 years or any issues affecting the property’s desirability.
- Price isn’t always a “steal.” Many people assume probate homes sell at deep discounts. While that can be true if the home is in poor condition, the final price is ultimately determined by the estate and the court.
Our listing at 211 Vasquez, Riverside is a great example of a probate sale with potential. The PR has been granted full authority, which means the sale can move forward without lengthy court approvals.
This 3-bedroom, 2-bath single-story home sits on a 6,000+ sq. ft. lot, offering possibilities for an ADU or even an addition. While the property needs some TLC, it’s in a convenient Riverside location and holds plenty of opportunity for buyers with vision.
Financing Options
If you’re worried about the cost of renovations, don’t be! Programs like the FHA 203(k) Rehab Loan (and similar VA and conventional options) allow you to purchase the home and finance improvements through one mortgage. That means you can buy the property and get the funds to make upgrades, all in one loan package.
Imagine turning this Riverside probate property into your dream home — or building equity as an investor. The possibilities are here.
👉 If you’re curious about 211 Vasquez or want to learn more about buying probate properties, call me today. Let’s talk about how we can make your real estate goals a reality.
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