The San Francisco East Bay has its fair share of Probate and Trust sales.
As both an experienced real estate broker (almost a decade in the business) as well as being a California licensed attorney, one of the more interesting aspects to my business is being in the unique position of assisting other attorneys and family members with probate, trust and conservatorship sales. With my legal background, I am in a better job than most all of the other real estate agents to thoroughly explain the intricacies of these types of sales to other parties in the transaction which can aid in keeping the deal together and facilitate a smooth close of escrow. Similarly, when representing buyers in these types of sales, the same proves true in that I am able to educate buyers concerning the probate and trust process confidently.
My team of cleaners, contractors, haulers, landscapers, painters and the like are ready to take on the transformation process of the home to ready it for a market. This will assure the house will have the best chances of receiving the highest price in the shortest amount of time.
As the listing agent for a probate or trust sale, my services include the following:
Reliable and thoroughly customized market valuation of subject property,
Optional assistance in improving the condition of the property, i.e., clean out, painting, rehab, etc.,
Non-technical counseling of buyers agents on the offer process for these specialized sales,
Detailed disclosures for the property sale,
Complete and thorough marketing of the subject property, including high-quality print collateral, extensive online presence, individual property website and videos,
Availability to attend all court appearances upon request of the attorney handling the matter.
Expected Timeline for Selling a Probate Property
Day 1 – The court in the County in which the subject property is located issues what is called “letters” which is your authorization as personal representative of the estate.
Day 10- the Listing agent is selected to market the home for sale.
Day 10-40 – Subject property is listed on the market in conjunction with a detailed marketing plan. Via professional photography, the property is listed on MLS and all important websites in conjunction with broker tours and open houses.
Day 40 – The sale will be achieved in one of two ways. First, the transaction can be “under independent administration.” If this occurs, when an offer is accepted the usual 30-45 day escrow process will proceed, and the property will remain after that close escrow. Second, the sale can be “with court confirmation.” If this occurs, a confirmation hearing is set by the probate court. During this process, there is necessarily an in-court auction for the property. The judge will offer anyone in the courtroom an opportunity to place an overbid on the property. Following this process, a typical escrow period will be the same as mentioned above at 30-45 days.