Anna Banana Kruchten, CRS, Arizona's Top Banana of Real Estate! (Phoenix Property Shoppe)

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Rainmaker
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Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Never taken a class, but I've successfully written stellar offers on trusts.  Proper form, title that the agent said, clean.

Jul 13, 2017 03:41 PM
Rainmaker
310,454
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I am aware of the delays that can take place when there are multiple signatures needed. I would oversee the procurement of the signatures.  I would communicate the reasons for any delays to the agents who have offers in. When I've taken the time to call everyone & speak to them I get more understanding from the majority of agents. It's not whether it's good or bad news that bothers them, hearing nothing is the biggest reason for most agent's discontent. 

Jul 14, 2017 04:51 AM
Ambassador
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Baltimore, MD
Sell Your Home With Margaret Rome

Never taken a course but I'm in the middle of one right now. There seems to be bit of friction between the family and between the trustee and the attorney.

Having it all go through me first seems to be the way to get this one done.

When will you be starting this course?

Jul 13, 2017 07:32 PM
Ambassador
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Trusts can take weeks to reach the right persons and get proper authorization. Many are bankers in trust departments and you have to locate them on the right golf course.

Jul 13, 2017 09:23 PM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

My very first sale was an estate sale and my second sale I was representing the buyers and the seller died!  So, I got street training on these babies...right out of the gate!!

 

Jul 13, 2017 08:51 PM
Ambassador
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Bob Crane
Woodland Management Service - Stevens Point, WI
Forestland Experts! 715-204-9671

I have dealt with a few of them, seems the main factor is the attnys, some act fast, others will sit on paperwork for months.

We had one where it was dragging out for 6 months, his assistant had to find the paperwork on the mountain of his desk, and lay it out for him to sign it.

Jul 13, 2017 08:18 PM
Ambassador
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      I am  listing a house that must be signed off by Trustees...  the MLS will say, "Out of state Trust; please allow 72 hours for time of acceptance on offers".  It will be interesting to see if selling agents comply with those instructions.

   A class would be a good thing.  Maybe even a designation.

Jul 13, 2017 04:13 PM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Jul 13, 2017 04:01 PM
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I have never taken a class but have sold a number of trust properties, including one where the trustee was an attorney living in Portugal. With today's technology it wasn't too bad. It's key to know all the parties involved, where they are,  and to make sure everyone knows more time may be needed, especially if the parties are not all in agreement. Also important that trust docs are in order and title/escrow OKs them.

Jul 13, 2017 03:36 PM
Rainmaker
2,337,717
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Parked and reading...

Jul 14, 2017 04:57 AM
Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I've never even seen a class offered in this subject, Anna.

Jul 14, 2017 04:40 AM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

This is not for amateurs and my wife is expert at it.

Jul 14, 2017 03:28 AM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I never had any issues if clients in agreement. For me it does not make too much difference to send 1 signer or 5 digital signatures request. But it is much easier if they delegate one person to sign all documents and sign a representation form on it. 

Jul 13, 2017 11:57 PM
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

I have taken some courses where the idea has been mentioned.  The devil is in the details and a lot of it has been learned through first hand experience, observation and some lessons from the trenches.  

Jul 13, 2017 11:01 PM
Rainmaker
3,139,767
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

You are right, I plan for about 10 days extra for mailings

Jul 13, 2017 08:45 PM
Rainmaker
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Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Anna Banana Kruchten, CRS ,

They all have their quirks..but always take longer and is to be expected.

Jul 13, 2017 06:39 PM
Rainmaker
3,186,292
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Anna,

Yes, we did classes on that.  And it does take  a long time.  One of our clients managed to get one done is 30 days after the bome was rendered habitable, because all parties as far as Maine cooperated beautifully, and got it done.  A

Jul 13, 2017 03:46 PM
Rainmaker
574,950
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

The last one I did the sellers had moved out of state, and wanted everything sent to them by Express Mail. But I did send them list of pros and cons of each offer by email. The agent that sent the most complete offer that was closest to list price got the house, but it took 3-4 days for them to sign and send offer back. I kept agent informed of the process, and she understood. Others that sent half filled out offers with missing pages and missing initials and signatures were just rejected without counter. The process wasn't that much different than a normal sale, just slower pace.

Jul 13, 2017 03:25 PM
Rainmaker
2,257,815
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I recently had one with 4 signors and even with e sign like Dot loop, it took a great deal of time to get everyone to sign. I was able to get the buyers to understand. 

Jul 13, 2017 03:11 PM
Rainmaker
166,880
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Not at all uncommon. We have dealt with estate sales.  Just need to make sure the paperwork is in order and the signer on the deal has the authority. After that, escrow handles all the issues.

Jul 14, 2017 08:57 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

this is not something we normally deal with.... 

Jul 14, 2017 08:48 AM
Rainer
79,403
Theo Shaw
Baird & Warner Residential Real Estate - Evanston, IL
Serving Evanston, IL & Beyond

When I had a trust sale, with a large (fortunately, cooperative) family of trustees in multiple states, I appointed the geographically nearest trustee as the lead contact.  I would contact her, go over things in detail, and then she would write it down, confirm that she and I were on the same page, and reach out to the other trustees.  Yes, there were a lot of emails flying back and forth for clarification, but mostly I let them 'talk amongst yourselves.'  They would reach concensus and get back to me.  Then, through the beauty of electronic signatures, things went smoothly.  The estate attorney and the real estate attorney were both cooperative, and even though we had multiple offers, the sale was closed quickly with no hiccups.  The trustees were some of the nicest clients I ever had.

 

Jul 14, 2017 07:44 AM
Rainmaker
2,174,511
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

For those looking for a quick repsonse, look elswhere! Sometimes signatures are hard to get from those who have their own agenda!

Jul 14, 2017 06:35 AM
Rainmaker
278,624
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

I work with a lot of trust sales and have it only takes a little more time if court confirmation is required.  

if an agent lists a Trust Sale they should know in advance what is entailed in this transaction.  Working outside their expertise might be a huge issue.

Trust sales are not complicated but the procedure and documents required in the transaction are different from a standard sale. 

As far as formal training there are courses presented locally and on line.  The transactional forms in CA are available on line and easy to understand. 

Preparation, understanding and managing the transaction should be easy if everything is in place and the agent is knowledgeable.

If in doubt that's what the agents should be going to their Broker to learn or do-list with one who does.  Unfortunately many try to wing it.

 

Jul 14, 2017 06:22 AM
Rainmaker
3,679,639
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have spoken with estate attorneys to get information about these types of sales and suggest others do the same.

Any class on this would need to be state specific as the laws vary greatly by state.

Jul 14, 2017 06:16 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing your experience.

Jul 14, 2017 04:12 AM
Ambassador
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Praful Thakkar
eXp Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Anna Banana Kruchten, CRS - I represented the buyer when this happened. The good news was - no multiple offers then! So everything went smoothly.

As long as the expectations are set right, things should be fine. Make sure the sellers are willing and ready to come to a 'consensus' promptly and have the process put in place for signing the required documents promptly. (It is easy nowadays.)

Jul 13, 2017 09:34 PM
Rainmaker
1,233,170
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Anna Banana Kruchten, CRS Yes time is a major factor. The estate sale I mentioned in your prior question had eight heirs who were located all over the U.S. An unexpected situation with this transaction was one of the heirs was homeless. Always expect the unexpected.

Jul 13, 2017 07:24 PM
Rainmaker
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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I'm actually writing an article on this topic. It's geared towards the beneficiaries.  Over 5000 words so far.  Hope to publish next week.

Jul 13, 2017 04:41 PM
Rainmaker
2,128,337
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I took a course but I am not familar with the forms...nothing you cant handle

Jul 13, 2017 03:53 PM
Rainmaker
239,752
Ron Tissier
Chapman Hall Premier Realtors - Atlanta, GA
www.SearchAtlantaLuxuryHomes.com

I see CE classes offered on trust and estate sales quite often and think I'll sign up next time one comes around.

Cheers! 

Aug 12, 2017 11:53 AM
Ambassador
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

be patient and obtain all signatures to close

Jul 19, 2017 07:02 AM
Rainmaker
1,319,387
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I have worked some trust sales years ago but have not taken courses in how to handle them.  They can be very trying and take a lot of patience.

Jul 15, 2017 07:10 PM
Rainmaker
2,332,390
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Yes 

I provide offer writing instructions to level the playing field for agents who don't know the process or what forms to use.  I invite them to call me to discuss as well. If they fail to follow what is asked of them ... that is on them  I did my best to help. 

Jul 15, 2017 09:07 AM
Rainmaker
1,297,172
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

The four corners of the contract are the same for trust sales as any other sale. Buyers not willing to abide by longer response times are not cooperative and consequently are wasting time. Course? Not necessary.

Jul 15, 2017 07:06 AM
Rainmaker
635,108
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Yah, estate sales can be a pain - I've never heard of such a class myself

Jul 14, 2017 09:50 AM