How to Prevent Loss When Dealing With Probate
Selling a San Diego probate property is difficult to say the least. As the executor of the estate you are expected to handle the responsibilities you are given honestly and in a reasonable amount of time. The experience can be emotionally draining, time consuming, stressful, and practically overwhelming. On top of all that there are lots of individuals trying to make a dollar off of your difficult situation, by taking advantage of you and your loved one’s estate. Don’t let yourself be fooled; here are a few individuals to keep a look out for, and how to handle them.
Before your loved one has passed there may be opportunists who will try to gain control of assets within the estate. When someone forces your loved one to give up belongings, or change estate documents against their will it is known in the legal world as undue influence. These opportunists can come in many forms; disgruntled family members, wannabe heirs, financial professionals, and medical or social workers are just some of the sources of this abuse. The best way to handle this situation is to prevent it; be aware of anyone who may try to influence your loved one against his or her will. If you are unable to prevent undue influence then you will need to turn to your lawyer for help. Keep records of your loved one’s medical records especially if they suffer from any mental illness that could impair their ability to make decisions.
Just last year I had the pleasure of helping Jessica with her grandmother’s Imperial Beach house. Nine months before Jessica’s grandmother passed away, she refinanced her home with a reverse mortgage. Upon her death, it was discovered that over $130,000 had disappeared since the refinance. The story is that Jessica’s grandmother met a woman on the bus a few months before she chose to obtain the reverse mortgage. That woman took the role of being Jessica’s grandmother’s caretaker. And, that woman absconded with the missing $130,000.
As the executor of a loved ones estate, you likely have been bombarded by cash buyers looking to ‘help’ you by offering to purchase the estate property. These cash buyers will try to persuade you with a quick transaction, no closing costs or fees, and no repairs; sounds great right? What they don’t tell you is that often times you can easily receive tens of thousands of dollars more for the San Diego probate property simply by hiring an experienced San Diego probate real estate agent who will guide you through all the details of selling the San Diego probate property. Having proper guidance and representation will make all the difference with the ultimate financial return you receive for the estate, so don’t take what may appear to be the ‘easy way’ out by choosing a cash buyer unless you have all the facts and are instructed to do so by your San Diego probate attorney.
Executor John and I met at his father’s house in Encinitas. John lives in Florida and had been contacted by several “cash” buyers and he was simply meeting with me to be absolutely sure that he had all the facts before he signed the purchase agreement contract. After meeting with me and getting accurate answers to all his questions about selling this father’s San Diego probate property, John chose not to sell directly to the cash buyer; he chose to have me, a San Diego probate real estate expert help him. And, as happens frequently, John ultimately got $45,000 more for the San Diego probate property than if he had signed that “cash” buyers purchase agreement. Plus, the entire experience was simpler for John because he had my team to help him through all the details of the estate.
When looking to handle any repairs to your San Diego probate property it can be difficult to determine if you are being pushed into paying more then is necessary. Some repairs are essential to sell a property without significant loss, while others are just fluff work that won’t provide a significant, if any, gain when sold. Again if you have an experienced probate real estate agent, like me, who has helped hundreds of executors and administrators with a San Diego probate property, that agent will be able to help you determine what repairs are worth the cost. An experienced San Diego probate real estate agent will also be able to introduce you to repair companies that they have worked with previously.
Remember that in any of these situations there is always a helping hand available from the experienced professional you have hired. Your San Diego probate attorney will provide you with legal help regarding the estate, and your San Diego probate real estate agent will be there to simplify the details of a San Diego probate real estate transaction. If you take the time to find experienced representation you will find that the role of executor will be much easier to grasp. I have helped over 300 San Diego executors, administrators and trustees make important decisions regarding their loved one’s estates. To get accurate answers to your questions and experienced guidance, call me, Kim Ward at (619)741-0111.