CASE STUDY
PROBATE AND TRUST HELP
The Challenge
The brother of Susan and Bill passed away in 2010 leaving a condominium near UCSD and his personal property to the two of them and another sibling. Susan and Bill were appointed as co-administrators of the estate, which had to go through probate. Their attorney, Cheryl Tannenberg, introduced Bill to Kim Ward.
The Strategy
Probate Sale Case Study
Bill traveled to San Diego from Wichita, Kansas, and met with Kim for an initial consultation in May. At the meeting Kim discovered that it was important for Bill that his brother’s estate be handled properly and that he honor the memory of his brother. Bill believed he could do that by setting aside his portion of the proceeds in a way that would provide a legacy for his children. At their first meeting, Bill and Kim discussed the situation and they decided to sell the condominium “as-is”. Kim recommended that the condo be professionally cleaned, staged to sell by the Horizon Real Estate team and placed on the market. Bill agreed. Within a few weeks, however, it became apparent that the property required more updating to attract the highest and best price in the current marketplace. So Kim obtained bids for carpet installation, updated cabinet hardware and interior painting. The work would cost $4,700, but Susan and Bill quickly realized that it was a highly worthwhile investment that could generate a successful sale.
The Results
Upon completion of the updates, the condo was re-staged and placed on the market at $399,000. After 30 days the price was adjusted to $379,000. Shortly afterwards, an offer was received and negotiated to a selling price of $365,000. Bill and Susan are very happy with the results and Bill now can fulfill his dream of providing a legacy for his children.
The Horizon Real Estate Team has been selling probate and trust properties all over San Diego County for 10 plus years. We work with Probate Attorneys, Fiduciaries, Trustees and Heirs on a regular basis and understand the Probate Court system very well.
We are happily busy having helped many clients with the sale of properties this year and still counting!
