Importance of an Independent Realtor
Because of the complexity of estate valuations, the services of a professional realtor who is not employed by the executor are extremely useful. In addition to helping with the initial assessment, a qualified realtor can assist with other important matters, such as providing the various contractors and workers needed to prepare the real property. Without the help of a professional realtor, it’s likely that the selling party will not get maximum value through the trust or probate selling process.
With Andrews & Roberts, we handle all aspects of trust and probate sales, ensuring our clients’ needs are met. Our process is thorough, covering every detail and leaving nothing to chance.
Properties being sold in trust or probate are often perceived as old and in disrepair. When these homes go on the market, they naturally attract lowball offers. With some advance pre-market preparation and cleanup, within the Trustee’s budgetary guidelines, a property’s appearance can be transformed from teardown to showplace. We have extensive experience working with Trustees in preparing properties to maximize their market value.
Optimal List Price
The best way to maximize market value is to create a competitive buying environment. We set the suggested list price at or just below actual market value to best promote multiple offers.
We find that a high-exposure, limited timeframe initial marketing period maximizes marketing results. This period may differ based on the needs of the Trustee. It may be as short as one broker open house and one public open house, or extend up to 21 days on the market prior to reviewing offers. This ensures the property receives maximum exposure to the marketplace and all interested parties are given enough time to visit the property and conduct due diligence, if desired, before making offers.
Using a dynamic combination of high-impact traditional marketing and state-of-the-art technology, we will aggressively promote your property to the widest possible audience of buyers and real estate agents both nationally and internationally. This process offers protection to the fiduciary by demonstrating full market exposure and optimal sales results. It includes presenting the fiduciary with a full synopsis of market activity, advertising, number of buyers and Realtors who previewed the property and an
Excel spreadsheet outlining terms of all offers received.
We conduct a seller-controlled marketing and sale process, clearly stating our expectations of the buying public in an instruction sheet and explaining the requirements of the transaction to all prospective buyers. The expressed desires of the Trustee dictate these terms. To most parties, price is most important; but sometimes a fast close or a leaseback from buyer to seller are critical. By providing an instruction sheet to all interested parties, buyers will understand the seller’s “wish list” and write offers accordingly.
We work to limit contingencies by giving prospective buyers as much documentation up front as possible during the marketing period. This includes a Buyer’s Package with preliminary title report, termite inspection report, zone disclosures, instruction sheet and more. We’ve found that this approach makes buyers more comfortable writing offers with few or no contingencies.
Seller Selection of Services
Our instruction sheet notes that our sellers choose the service companies. Stating this from the outset makes it easy for the seller to control services.
We require prospective buyers to provide proof of sufficient funds to close escrow and, if applicable, a pre-approval letter from a lender.
Over the past 15 years, our team have developed and fine-tuned the skills to navigate this delicate process. Combining masterful negotiating tactics with subtle diplomacy, we’ve earned years of proven, exceptional results. The time we spend with the seller, brokerage community and potential buyer pool is the key to a certain and successful outcome.