Wednesday, September 19, 2007

First you gotta get the fish... then you go for the shark

In today's changing market, Probate & Conservatorship Real Estate Sales are faced with new challenges. We have been seeing that probate sales that require court confirmation are having a hard time getting the first buyer to put in their first offer. Getting that buyer on the hook is the challenge but once we get the buyer then we go after the shark...
Let us tell you a short story.
We had a sale in court this week and we sold the property to an over-bidder for a price exceptionally higher than the original offer. It took months for us to get an appropriate initial offer in on the property. Then we recharged our batteries over here at The Sanborn Team and re-marketed the property, letting everyone know that the property was available for purchase by an over-bidder. We began hunting for our shark.
With just about 6 weeks to get an over-bidder we continued to advertise the property weekly. The week before the confirmation hearing, we heard from a couple of buyers that said they were going to attend court.
Lo and behold, entered our shark, who purchased the property for more than $100,000 above the original offer!
So the key to selling a probate property that requires court confirmation is to get the first buyer in, at an appropriate price, and know that if there is any value left, the property will be sold to an over-bidder in court.
With our type of market exposure it's impossible to sell a property for under its value.
To learn more about our marketing techniques, please visit our website at or call us directly at 310-777-2858.