Tuesday, April 14, 2009

30 Percent Overbid in Court

Good News: Overbid Activity Raises Sale Price
We are very excited to report that we had some heated overbidding for real estate in court today. As a result of our marketing plan for all of our probate real estate properties we were able to secure for the estate that we represented an additional $37,000, which represented a 30% increase for the heirs of the estate.

This property was listed for sale in November 2008 for $150,000 and there were not any showings or calls. The estate reduced the price of the property to just below $100,000 and there was an increase in activity and finally a bid for $90,000 was accepted.

Once we received the court date information, we updated the multiple listing service with the overbid price. In the last 30 days we received numerous inquiries from real estate agents and from potential buyers for this property. We sent out instructions for how overbid in court and today we actually had 2 interested parties who wanted to bid on the property (there were actually 3 interested parties, but one of the overbidders arrived late :-( in spite of our clear instructions that the probate court in downtown Los Angeles starts promptly at 8:30 a.m).
The over bidding for the property was quite active and interesting and in the end the judge had the bids go up in increments of $1,000. At the end of the day the buyer for the property bid $127,000.

Everyone who represented the estate was excited to get an additional $37,000 for the property and they thanked Nancy Sanborn and Allison Sanborn of The Sanborn Team for all their efforts in getting the property sold and for dynamic marketing to attract an overbid in Probate Court.

Thursday, April 09, 2009

Upcoming Court Hearings!

Upcoming Probate Real Estate Court Dates!

Call your Buyers!!!! Call your Investors!!!!

1481 W. 25th Street, Los Angeles

100% vacant side by side duplex

Each unit with 1 bedroom & 1 bath

Court date: Friday April 17, 2009

Time: 8:30am

Location: 111 N. Hill Street, Los Angeles, Department 11

Opening Bid: $208,400

317 W 93rd Street, Los Angeles

100% vacant side by side duplex

Each unit is 1 bedroom 1 bath

Needs TLC!

Court date: Tuesday April 14, 2009

Location: 111 N. Hill Street Los Angeles, CA Department 5

Time: 8:30am

Opening Bid: $95,000

For information about over-bidding on court approved real estate sales please visit our website at http://www.sanbornteam.com/.

If you are in need of a probate real estate expert, please give us a call at 310-277-2858 or visit our website at http://www.sanbornteam.com/