1632 Ontario St, Fairfield, CA 94533

Notice to potential buyers When making offers: Court confirmation is required. 1. The sale is subject to court confirmation, meaning the accepted offer is not final until approved by the probate court. 2. The court confirmation process involves a hearing where other buyers have the opportunity to overbid the accepted offer in an auction-style format. The court's priority is to maximize the estate's value, which includes exploring the possibility of higher offers at the hearing Overbidding process 3. The overbid formula used in California probate sales (typically 5% plus $500 above the initial offer). The first bid in court must meet this minimum overbid amount. 4. To participate in overbidding, buyers must attend the court confirmation hearing and present a cashier's check for the required deposit, 10% of the bid amount. The winning bidder will be the one whose offer is confirmed by the court, and title will pass to them after all conditions are met and the personal representative executes the conveyance. It is recommended to bring a blank cashier's check to the hearing for the deposit. Timeline and potential delays 5. The probate sale process takes longer than a traditional real estate transaction due to court procedures, potentially ranging from 1 - 2 months for calendaring. The accepted offer will initiate a 30 day window for the personal representative to prepare and file a "Report of Sale and Petition for Order Confirming Sale of Real Property" with the court. This will be done upon accepting an offer. 6. The court will then set a hearing date for the confirmation, which can be 30-45 days out. *The initial deposit for limited authority probate sales is 10% of the listing price and must be cleared by the buyer before the court confirmation hearing. "Reappraisal for Sale Inventory & Appraisal" 7. This is required and will be filed by the probate referee. Required disclosures and deposits 8. The personal representative is exempt from providing a standard Transfer Disclosure Statement (TDS), they must still disclose all known material facts affecting the property's value or desirability through an Exempt Seller Disclosure form. Nature of the sale 9. The property is being sold "as is," and the buyer should conduct a thorough inspection before submitting an offer, as the estate is not obligated to make repairs. Typical purchase agreement contingencies (like financing or inspection contingencies) will not be allowed in probate sales with limited authority, except for the contingency of court confirmation.