The year I sold four homes in Alameda for one client

This year I sold four homes in Alameda for one client

My client and her husband were named trustees of his sister’s trust.  The trust held title to four homes the sister owned.  There were 12 beneficiaries of the estate.  The homes constituted a big portion of the estate so they had to be sold to distribute the entire trust estate.

The owner of the properties passed away July, 2012.  The proposed trustee contacted me immediately to determine the basis of the four properties at the time of the owner’s death.  The properties were all small bungalows with 2 bedrooms and one bath. At that time, the market was slowly emerging from horrible down market.

I investigated the value of each property as of the date of the owner’s death for my clients’ and their accountant.  Since the market has been virtually dead for 5 years, finding comparables was difficult.  I finally found several good comparables and was able to give my clients an accurate date of death values for each of the homes.

I knew my clients were receiving calls from neighbors and others offering to buy the homes for very low prices.  My clients knew that as Trustees of the estate, they had a fiduciary duty to the 12 beneficiaries to sell the properties for as much as possible.

My client agreed that she would hire me sell the properties with the stipulation that a neighbor would have first right of refusal to buy one of the properties if he agreed to the price I had suggested to her.  Eventually, he told my client that he did not want to pay such a high price for the property.  He obviously wanted a steal.

In October I asked several painters, roofers, flooring and carpet people and gardeners to give me estimates.  My client agreed to paint 3 of homes inside and outside and to paint one the inside of of the remaining home.  I gave the estimates to my client who told me that a friend of her son’s would do the painting at a considerable savings to the estate.

In the meantime, I helped my client empty the homes including a tenant occupied property who were given a 60 day notice to vacate.   I suggested a local non-profit which would hold an estate sale for my client.  Another friend of the son cleared the debris from the yards and did some basic gardening.  The homes were painted, floors were refinished or carpets were installed and minor repairs were made.  This process took longer than I had hoped because the painter had a very small crew.

At every step of the processing of putting the houses on the market, I was my client’s contact with local craftspeople.  I constantly checked the condition of the properties and in one instance I found the basement of one home flooded due to an aging water heater.  I selected carpet samples for my client to choose from and placed orders for the flooring materials chosen.  I made emergency runs for hardware items for the painters and plumbers and even paid for additional vinyl needed to complete a bathroom installation. I went to the homes every day to be sure that they were secure since they were all empty. I watered lawns and checked to be sure each home was in perfect condition to be shown to prospective buyers.

Eventually all four homes were sold.  All homes received multiple offers and all sold for more than the original asking prices, so my efforts on behalf of my client were well worth my time.  But I virtually spent one year preparing and putting the homes on the market for my client. I worked very hard for my commission and even though the four sales were time consuming, it was worth my efforts. Each new home owners were happy with their new home and the neighborhoods.

Alameda is a wonderful island community,with its tree lined streets, friendly neighborhoods, great schools and lovely architecture.  It is a very desirable place to live.  Looking for a home in the Alameda? I have lived in Alameda for 40 years. I know the market and can help you sell or buy a home in Alameda.  I will send an email to you every day of any new activity on the market.  Call or text me at 510-504-5612 or go to my website search for alameda homes to find a home in Alameda