The executor or administrator sells it either under IAEA full authority, after a Notice of Proposed Action to heirs at least 15 days ahead, or through a court confirmation hearing where other buyers can overbid. Your attorney confirms which applies.
By David Saghian · $300M+ personally closed · $400M+ team
Four Steps to a Probate Sale
1. Confirm authority
Full IAEA, limited, or none: it decides whether court confirms the sale.
2. Value the building
A written opinion of value from closed comps and the rent roll.
3. Market and accept
Every offer in writing; terms set for notice or hearing.
4. Notice or hearing
15-day notice under IAEA, or a hearing with overbids.
Need a value for the estate or trust?
A confidential written valuation from closed sales. No obligation.
Plan for the Overbid
In a court-confirmed sale, your buyer can be outbid in the courtroom. A strong, well-marketed accepted offer makes an overbid less likely and protects the estate either way.
An estate accepts a $2,000,000 offer that goes to court for confirmation. Under Prob. Code §10311, a new bidder at the hearing must offer at least:
| Original accepted bid | $2,000,000 |
| 10% of the first $10,000 | $1,000 |
| 5% of the remaining $1,990,000 | $99,500 |
| Minimum opening overbid | $2,100,500 |
Compare all three paths on our probate and trust sales page.
Broker opinion of value for the inventory, a written marketing record and weekly reports to counsel.
Frequently Asked Questions
Do I need court approval to sell an apartment building in probate?
Yes, unless the personal representative has IAEA full authority. All probate sales of real property must be confirmed by the court except as provided in Prob. Code §10503 (Prob. Code §10308). Limited authority still requires court supervision for a sale (Prob. Code §10501).
What does the Notice of Proposed Action do?
Under IAEA, it tells heirs about the sale at least 15 days before it happens (Prob. Code §10586). Anyone entitled to notice can object in writing (Prob. Code §10587).
What is the minimum price in a court-confirmed sale?
At least 90% of an appraisal whose valuation date is within one year of the hearing (Prob. Code §10309).
How much higher must an overbid be?
At least 10% more on the first $10,000 of the original bid and 5% more on the rest (Prob. Code §10311). Example: a $3,000,000 bid needs at least $3,150,500.
Who pays the broker, and when?
The estate, from proceeds. In a court-confirmed sale the court approves the commission, and it is owed only if the sale is confirmed and closes (Prob. Code §10160).
Do tenants stay?
Yes. Leases and rent-control protections pass to the buyer.
Talk to David about your building
Send the address and your role. You will get a value range and a plan for your attorney.
We are real estate brokers, not attorneys, CPAs or tax advisors. Nothing on this page is legal or tax advice; confirm every decision with your attorney and CPA. Statutes quoted from leginfo.legislature.ca.gov, checked Oct 31, 2026.