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 buyer's and Realtors who previewed 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 setting forth the expressed desires of the Trustee. 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.
By presenting a Buyer’s Package up front including, but not limited to a Buyer Instruction Sheet, Preliminary Title Report, Zone Disclosures, and Statutory Disclosures, we minimize or negate the need for Buyer Contingencies.
Over the past fifteen years, our agents 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.
Some transactions may require court approval. The timeframe for that process may vary and is beyond the control of Douglas Elliman Real Estate.
Douglas Elliman Real Estate is a real estate brokerage firm and, accordingly, does not provide legal or tax advice. Prior to making any decision regarding the information provided, you should consult with your own accounting, tax and legal advisors.