what is a real estate probate purchase contract, and how is it different from the normal residential purchase agreement?
A real estate probably purchase contract is approved and written by the probate court. It is done in circumstances, for let's say, John Doe died with a $2,000 per month mortgage with large amounts of equity...but no money to pay the monthly payment. The children or heirs can petition the court to allow the sale of the home during probate to secure the assets of the home (which will remain in probate), but it allows for the sale so the home doesn't fall into foreclosure.
