Always ask the prospective agent, "Have you sold real property through probate or trust?"
Most agents will casually answer yes, but be sure to ask for more details. For example ask them the following questions:
- Have you ever sold a property that requires court confirmation?
- How do you market the property and attract all types of buyers?
It's also important to realize that there when selling probate and trust real estate as a "private" sale, there are probate codes and rules to follow. Make sure your agent is savvy and knows these codes. For example ask the agent you are interviewing:
- How long is the listing agreement for?
- What is the commission?
In a probate sale, the listing agreement is only good for 90 days. Many agents do not know this and you can get yourself into a longer listing agreement. Also, the commission is dictated by the court and it can only be 5% (10% for vacant land), so be sure you are being charged the correct commission.
Probate and trust real estate sales can be complicated, so it is important to have a seasoned agent who has experience within this specialized marketplace.
Meet The Sanborn Team. These real estate agents are your experts when it comes to selling real estate through trust or probate.
To learn more about selling property through probate or trust, please visit The Sanborn Team website at http://www.sanbornteam.com/ or call with no obligation at 310-777-2858.
