Probate Home Sale Case Study:
Probate home with Medicare lien that needed to sell quickly.
2107 Hawthorne Street, Savannah, GA 31404
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The personal representative of the estate had a home in the estate and they were not sure if they were going to sell it.
However, several years after her mother had passed away they found out that the mother’s assisted living costs were not covered by Medicare and that the Department of Health was putting a lien on the home.
Her excellent attorneys helped negotiate the lien value down but then she had an order to sell the house within 4 months.
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This home presented two unique hurdles:
As part of a negotiated agreement between the Estate Represenative and the Deparment of Health to reduce the Medicare lien value currently on the house, the home had to be sold within 4 months.
The home sale required the Estate Representative to get an EIN for the estate and open a business bank account once the home was under contract.
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Working together, I helped the Estate Representative weigh her options between seling off-market to an investor or listing the home on the MLS.
Ultimately, we determined listing the home for sale on the open market would yield a better result for the client.
Within a month of listing the home for sale we went under contract and closed with an all cash offer.
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Estate Outcome — With the home under contract and sold within a month of listing, the Estate Representative was thankful to have a professional guiding her through the probate process and glad to get this behind her.
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