Santa Clara County Probate Homes | Myths vs Reality

By
Real Estate Broker/Owner with KD Realty - 408.972.1822 CA DRE#01366594

 

Myths About Santa Clara County Probate Homes

Kathleen Daniels, Broker-Owner of Need Probate Help and Probate Real Estate Services was licensed in January 2003. Her first Santa Clara County probate listing was in April 2005. Throughout the years she has listed fire damaged and tear down homes.

The one consistent belief is that probate home sales are screaming hot deals. Every seller wants top dollar for their home. This includes executors & administrators, successor trustees, and conservators!

In all the years working probate real estate I have never heard a seller say: 

 

I want to sell this home for the least amount possible or just give it away!

 

Even a fire-damaged home has fierce competition with multiple offers and bidding wars.

 

 

As home values continue to increase year over year, the competition for homes in Santa Clara County continues to increase as well. This includes probate homes. 

In a recent post, we shared the following: 

  • One home had 69 offers and sold $825,000 over the asking price.
  • One home had 60 offers and sold $655,000 above the asking price.

 

No doubt the winners of the bidding wars on these two homes may feel like they got a deal. One thing is certain. They wanted the property and were willing to pay what they paid to get it!

 

Perhaps a Screaming Hot Deals on a Santa Clara County probate home are

 

You may read the full post, Probate Homes Myths where it was originally posted. 

 

If you need to sell real estate held in a trust, in probate, or a conservatorship, have general real estate related questions, or need a recommendation for a probate or real estate attorney give us a call at 408-972-1822 or request a consultation and let our years of experience and highly specialized services go to work for you.

 

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Groups:
Certified Probate Real Estate Specialists
Local Expert
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Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Kathleen it is amazing a Buyer would pay that much over asking.  I would imagine those houses did not appraise for much more than the asking price, so these Buyers must of had a lot of their own money to make up the difference.

Jan 31, 2021 12:18 PM #1
Rainmaker
2,966,384
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

There is a LOT OF MONEY in Silicon Valley George Souto 

Both homes were tear down / fixers. 

Both had conventional financing and of course, the other details are confidential. 

I continue to be amazed by my market. 

Jan 31, 2021 12:24 PM #2
Rainmaker
3,766,821
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Well, I'm gob-smacked by your crazy market, Kathleen! While I spend a lot of time explaining to people that we really don't have lots of "deals" just because a property is an estate or foreclousre or short sale... we certainly don't see this kind of activity!

Jan 31, 2021 02:25 PM #3
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have always been amazed at California prices but I guess it is all relative Kathleen Daniels, Probate & Trust Specialist 

Jan 31, 2021 07:44 PM #4
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Holy guacamole, Kathleen! 

My mind immediately went to the fact that your clients HAVE to trust you - completely. I cannot imagine having to tell a client, "If you want this house, you're going to have to pay over $800K more than the seller is asking!

Good to know myths vs reality in Santa Clara County Probabe homes. You certainly are the one to call, Kathleen.

Jan 31, 2021 09:37 PM #5
Rainmaker
3,257,123
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I remember hearing you speak about probate and it prompted me to create a beneficiary deed for my home, which should allow it to transfer smoothly rather than have to be stuck in probate, correct?

Feb 01, 2021 04:09 AM #6
Rainmaker
2,966,384
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Nina Hollander - the inspiration for this post is the number of calls I get from people who truly believe they can, and will, get a steal of a deal buying a probate home.  In 18+ years I have yet to find one. 

Paul S. Henderson, REALTOR®, CRS -it is all relative. I live, eat and breathe the market and it amazes me too. 

 

Debe Maxwell, CRS It is insane - I will never get used to my crazy market and soaring home prices.

Brian England -  Probate and Probate Laws are different in other states.  No doubt you consulted with a local attorney to ensure your affairs are in order and your estate will not need probate when you cross the human rainbow bridge. 

 

Feb 02, 2021 03:37 PM #7
Rainmaker
2,949,278
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

There are quite a few months going around from what I hear. Thanks for the clarification and the education. :)

Feb 03, 2021 06:28 PM #8
Rainmaker
2,949,278
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Kathleen, I would say this is inspiration personified almost or rather that you are inspiration personified with this post!

Feb 03, 2021 07:14 PM #9
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Rainmaker
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Kathleen Daniels, Probate & Trust Specialist

Probate Real Estate
An Independent San Jose Real Estate Brokerage
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