What is the Overbid Process in a California Probate Sale?
In a California probate sale requiring court confirmation, the overbid process allows any member of the public to appear at the court confirmation hearing and submit a higher bid than the accepted offer. The minimum first overbid is calculated as the accepted offer price plus the greater of $500 or 10% of the first $10,000 plus 5% of the balance above $10,000. For example, on an accepted offer of $900,000, the minimum overbid is approximately $945,500. If overbids are submitted, the court conducts an open auction between all bidders until the highest bid is reached. The court then confirms the sale to the highest bidder.
Going Deeper
The overbid process protects estate beneficiaries by ensuring the property achieves fair market value through open competition. For buyers, it means the accepted offer is not final until confirmed at the court hearing. Buyers should be advised of this process before submitting an offer on probate property — buyers who are unaware of the overbid process sometimes feel blindsided when they learn about it.
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