A "natural offspring" of our niche in divorce has been working with estates for a variety of reasons....one niche can lead to another. There
can be some similarities in circumstances. The death can be unexpected or the estate not well prepared...prepared...but not correctly. Heirs can be more contentious than spouses...Mom liked who Best...?
Sometimes there are not the funds or the desire...or the consensus....to repair, replace the things that would not only make the property appear more attractive but may also well be the difference between a Buyer being able to finance a mortgage. Things like...a "lifeless roof" that cannot be insured, electrical service that is not up to code...foundation issues...and the list goes on ...and the expenses mount. In these kinds of property situations, "as is" may be the best solution. Personal representatives have to have the understanding that this condition will not bring the same revenue as the homes on the market that are "all dressed up and ready to sell." It is not at all accurate to compare a home being sold with this condition to others on the market that have sold...and are "move in ready".
If the house is put on the market and offers are written with an inspection contingency as well might be the case...should the Buyer find an objectionable defect....and walk from the deal...the Estate must now reveal the known defect to all future buyers.
Consumers need to know when selecting a real estate agent for an estate...there is far more to it than listing places for donations of furniture and having estate sales of personal property.
We were asked to review a property the other day where the Seller had gone to Senior Housing. Cute little house but had a number of issues that would prevent the FHA financing that could likely be used by the new Buyer....the Seller had no idea...nor did the agent that had listed it above the market.
Estates are a speciality ....a niche...and not for every real estate agent to list without the proper background. There may be multiple solutions or ways to sell the property ...and those questions are best asked of agents experienced with these kinds of sales.
If you or anyone you know has an estate property in southeastern Wisconsin that requires valuation and suggestions for possible ways to sell the property, Call 414 525 0563, and Sally K & David L. Hanson, Broker Associates with EXP Realty will be honored to be of assistancc.