Should You Sell Your Own Probate Real Estate?

Why Can’t We Just List and Sell Our Own Probate Real Estate?

Technically, you can. But before you begin (and before you assume it will save you money and time), here are a few things to consider:

• Marketing your own property may not get you the widest exposure to potential buyers.



• If your probate real estate is outside your immediate geographic area, you may have difficulty showing it to buyers. You may also have to deal with people who just want to look but are not serious about making a purchase.



• Many (not all) probate real property sales are subject to court approval. If your property requires court approval, you will need to know the ins and outs of court proceedings, which have little tolerance for errors, excuses or delays.



• Probate real estate contracts include some very specific disclosure language that is different than non-probate sales.



• In addition to expert advice on pricing, court proceedings, property preparation, documentation and marketing, one of the most important services a skilled probate real estate specialist provides is continued aggressive marketing after an initial offer has been accepted, with the goal of getting an over-bid in court and a higher net sale.



• When you represent your own probate property, your probate attorney may provide some services as your agent and bill you for that additional time.
  

Experience is valuable – and saves you time, money and aggravation. Put The Sanborn Team’s experience to work for you when you’re selling property through probate, trust or conservatorship. We have decades of knowledge that we use to get results for you. Visit our website at http://www.sanbornteam.com/ or call us with your questions at 310-777-2858.

Probate and Trust Real Estate Update

Just Listed
Court Confirmation Not Required
8260 Marmont Lane, Hollywood, California

Perched just above the scenic Sunset Strip is this 2 bedroom, 3 bath home with a 2-car detached garage and amazing city views from the living room, dining area and kitchen. The home is over 2100 square feet and opens onto a secluded back yard.

Traditional in style, the home has a recently updated kitchen with great appliances. There is a fully equipped media room. The huge deck off the living room and dining area takes full advantage of the magnificent view.

Listed for $995,000

For additional information please contact The Sanborn Team, Nancy or Allison at 310-777-2858 or visit our web site at http://www.sanbornteam.com/

Probate and Trust Real Estate Update

Two Probate Court Real Estate Sales in One Day

Who can explain the real estate market? One never knows what to expect when you go to probate court.

Today we had two properties sell. The first was a small house just south of Downtown Los Angeles that had an accepted offer for $115,000. We had numerous calls on the property and many people asking us to fax instructions for how to overbid in court. As recently as last night I had a request for information on how the check for the overbid was to be filled out. You can imagine our surprise this morning when the attorney for the estate called out in court asking if anyone was there to overbid and no one responded.

On the other hand, we had a second sale today on a property that has been on the market for over 8 months. Due to several technical problems, the sale was delayed numerous times. The original buyers for the property had appeared in court several times, only to have their efforts to buy the home delayed due to problems for the estate. During the last several weeks prior to this hearing there was a sudden burst of activity, with showings several times a week. One couple decided to do both a physical inspection and a termite inspection. Today the couple appeared in court and there was very active bidding on the property.

The initial over bid was $998,000 and the property ultimately sold for $1,141,000. The difference between the accepted offer and the final sales price was was cl0se t0 $200,000. Needless to say everyone involved was pleasantly surprised with the result. Once again we felt that our marketing efforts paid off.

If you need professional advice on court ordered real estate sales in California call The Sanborn Team at 310-777-2858 and we can assist you with all your probate and trust real estate needs.
For additional information about The Sanborn Team please visit our web site at http://www.sanbornteam.com/

Probate and Real Estate Sales Updates

1549 N. Poinsettia Place

Hollywood, California

$499,950

Probate Sale, No Court Confirmation required.

Great opportunity to live in Hollywood, just north of Sunset and west of La Brea

Spacious 2 bedroom, 2 and a half bathroom townhome in Spanish-style complex.

Washer and dryer are in the unit.

Living room with fireplace opens onto spacious patio.

For information on this and other listings, please visit http://www.sanbornteam.com/ We update our website daily with postings for all of our listings, including upcoming court dates.

For any of your probate or trust real estate needs please contact the Sanborn Team, your Probate and Trust Real Estate Specialists. You can reach us at 310-777-2858 or email us at info@sanbornteam.com.
Link: http://www.blogger.com/www.sanbornteam.com

Probate and Trust Sales – California and Elsewhere

Probate and Trust Sales – California and Elsewhere

If you have family outside of California, or you live elsewhere and have family in California, you may find yourself in a situation where you are trying to manage an out-of-state probate or trust sale of real property.

Such sales are handled differently in every state. While The Sanborn Team specializes in probate and trust sales of real property throughout California, we have an extensive network of attorneys and skilled associates in other states who can assist you.

If you need professional advice on court-ordered sales in California, call The Sanborn Team and we can assist you directly. If you need a probate or estate-planning attorney in another state, we can help you find somebody who’s qualified. Please contact The Sanborn Team today at 310-777-2858.

Establishing the Baseline for Probate Property Sales

Establishing the Baseline for Probate Property Sales
Getting to know your Property Profile

If the sale of real property is part of the settlement of an estate, there’s more to it than calling the closest real estate agent. In many cases, the heirs may never have lived in the property, and, in fact, may never have seen it. Even if they have, before they can set a price, they need to find out as many of the ‘facts’ about the property as possible.

A real estate agent will begin this process by ordering a Property Profile from a title company. This document typically lists the size of the property (land and structures), its value, square footage and the owner of record. In other words, it offers a quick snapshot of the property – a starting place for the journey toward an eventual sale.

While the property profile is a valuable document, it may not be complete and up-to-date. For example, if there are liens or existing loans on the property, they might not show on the profile. That makes it absolutely essential for the skilled, probate-savvy real estate agent to follow up with additional research so that the sellers can move through the probate process without surprises or frustrating delays.

If you are selling or purchasing real property through probate or trust, The Sanborn Team can offer skilled, friendly guidance and nearly 30 years of probate-smart experience. Visit our website – http://www.sanbornteam.com/ – and give us a call at 310-777-2858.

Probate and Trust Real Estate Sales Update

Upcoming Sale Dates

5431 Bothwell Rd., Tarzana, is a 2 bedroom 2 bath home on an appx. 17,850 sq. ft. lot. The sale date will be January 29, 2009.

2530 Fairmont, La Crescenta, will be sold on January 27, 2009.

810 E. 31st, Los Angeles, will also be sold on January 27, 2009

For additional information on these properties or for further details on about Probate and Trust Real Estate Sales please visit our website www.sanbornteam.com or call us at 310-777-2858.

Probate and Trust Real Estate Sales Update

Recent Price Reduction

We have reduced the price of 317 W. 93rd Street, Los Angeles, to $99,000. This is a duplex. Each unit consists of a living room, dining room, 1 bedroom and 1 bath. The property is in need of some TLC, but both units are currently vacant, so it is an opportunity to fix and save. This sale is subject to court confirmation.

For information on this and other listings, please visit http://www.sanbornteam.com/

We update our website daily with postings for all of our listings including upcoming court dates.
For any of your probate or trust real estate needs please contact the Sanborn Team, your Probate and Trust Real Estate Specialists. You can reach us at 310-777-2858 or email us at info@sanbornteam.com.

Probate and Trust Real Estate Update

Good News for the Old Year, Good News in the New

2008 ended with a flurry of activity and 2009 is showing signs of more of the same. We ended the year with a court confirmation for a property in the Hollywood Hills with active overbidding so that the property at 1742 Courtney had a final sale price of over $1,000,000. The crazy part is that when the property initially went on the market it was priced at just under $1,000,000 and we were unable to get an offer on the property. The estate finally accepted an bid for $890,000 after being on the market for a period of time. As part of our marketing efforts we did our standard remarketing of the property to solicit an overbid and lo and behold on December 29 (when most of the world was not working) we had active overbidding in court.

Earlier in the month we had multiple offers on a property that we had put on the market in Tarzana and we are currently awaiting a court date for that property. We also did our final sale of the year on December 31.

Happy New Year!