San Diego Probate Property Sale – Case Study
The Challenge
Janis was appointed as the estate representative for her Uncle’s estate which included three houses on one San Diego lot. Janis’ attorney recommended Horizon Real Estate because of the help that her clients had experienced through probate and trust administration sales. An initial consultation meeting was schedule in February, 2011. Janis shared that her niece was residing in one of the units, one was vacant and the third was tenant occupied. After a few months of Janis and her attorney Chantelle Walsh requesting the properties be vacated, they determined that they needed to proceed with a legal eviction of the tenants; the process took over 4 months.
The Strategy
Once vacant, we introduced Janis to a locksmith who helped her to secure the property. To ease the removal of the remaining personal property, we introduced her to Steve; he purchases useable items and removes the debris. The list date was November 2nd. A value range price of $199,000-$229,000 was established. Experience shows that in the case of a fixer property, it is best to instigate an “auction atmosphere”. These houses were true fixers and marketed as such.
The Results
Within days cash offers were received and negotiations began. The ultimate buyer wanted to purchase the San Diego probate property for $5,000 less than what Janis was willing to sell. And, the great news is that because we held strong; the buyer agreed to the purchase at Janis’ price! The sale was completed, as-is, on December 1st for $215,000!
