Dealing with Probate Real Property Issues...
As Personal Representative, real estate issues will usually cost you the most in terms of time and effort to settle the estate.
When the unexpected responsibility of real estate lands in your lap, you can quickly find yourself in way over your head. Property security, building & lawn maintenance, property repairs, property management are just the tip of the iceberg. It can be even more frustrating when you don't live near the property.
If we don't offer a service, we usually know someone reputable who does. Please contact us with any questions or problems you might be dealing with. Below are just some of the real estate issues you might encounter that we can help you deal with:
Property Security
Property Preservation & Maintenance
Property
Management
Home Staging
Property Clean out
Property Repairs
Investor Buyout
Real Estate
Auctions
Business, Commercial & Multi-Family Property
Appraisals & Sales
Property Security
Time is of the essence to protect the estate's property! The time to secure a property is when it first becomes vacant. Immediately, door locks should be re-keyed, windows & other entrances secured and valuable personal property removed. You would be amazed at how many unscrupulous people come out of the woodwork. Old "friends", neighbors, estranged relatives and other wolves in sheep's clothing turn up to "help out". Things have a way of disappearing.
After the property has initially been secured, it's important to schedule routine inspections (weekly at a minimum).
Weekly (interior & exterior) property inspections are included as part of our estate listing service.
- Ensure all windows and doors are locked and secured
- Check exterior mail box
- Dispose of door hangers & newspapers
- Inspect for interior & exterior damage, plumbing leaks, vandalism, rodents
- Check light timers & replace light bulbs when necessary
- Verify security system is on and functional
- Photograph any damage and cooperate with local authorities & insurance company
If you can't be present to initially secure the property, one of our team members can be present to coordinate security services. If you desire, we can refer you to reasonably priced Colorado locksmiths and property preservation specialists, who will board up doors and windows.
Property Preservation & Maintenance
As Personal Representative, it is your responsibility to ensure that real property is preserved and maintained until it is either sold or distributed to heirs.
Part of a good preservation and maintenance plan includes:
- Maintain security through routine inspections
- Maintain an effective "vacant home" insurance policy
- Protect the property from weather elements
- Maintain the property exterior and interior
In Colorado, it's especially important to protect the plumbing system during Winter months. Water pipes can freeze, causing major damage when they thaw.
Upon completion of our initial inspection of the property, we will provide you with a checklist of recommended preservation and maintenance items. Contact us today to schedule a free on-site property consultation.
Home Staging
National statistics show that a staged home will sell twice as fast and sell for 3-10 percent more than one that has not been staged. In a down market, staging becomes even more important because it helps the home stand out from the crowd. Staging can be as simple as removing clutter or as extensive as furnishing and decorating the entire home
In Colorado, we recommend Debbie Fiskum with White Orchid Interiors . Debbie can be reached at 303-819-9791 or Debbie@WhiteOrchidInteriors.com .
Probate Investor Real Estate Buyout
We recommend that you expose your property on the open market, to as many buyers as possible and pricing the property to sell in the normal market period. However, there are times when selling to an investor makes sense. Properties that need so much work, that they won't qualify for conventional or government financing, will only appeal to investors. It also makes sense to have an investor purchase the property if you need your money very quickly, in less than 30 days.
Be aware that investors are in the market to make money and will typically offer you 70-80 percent of fair market value, after deducting for repairs. We have working relationships with local Colorado investors. Let us know if you would consider a buyout and we will refer you to local Colorado investors.
Real Estate Auctions
We recommend that you expose your property on the open market, to as many buyers as possible and pricing the property to sell in the normal market period. However, there are times when auctioning a property makes sense. Unique properties, ranch & land and high value properties that require a fast sale, are all candidates for a real estate auction.
We have good working relationships with real estate auctioneers throughout Colorado. Please contact us for a referral to a reputable auctioneer.
Property Management
When we list your residential estate for sale, included as part of our service is lawn maintenance, driveway & sidewalk snow removal.
In cases where the probate estate includes multiple income properties, multi-family or commercial properties, we recommend that you employ a reputable property manager. If the property is not already being managed by a professional, we would be happy to refer one to you.
Property Clean-Out / Trash Out
Part of our bid to complete an estate sale of personal property will include clearing the property of any remaining items. If we are not holding an estate sale, we can obtain bids from local, reasonably priced contractors, to remove any items from the property and have the property cleaned.
Property Repairs
Unless you are selling the property as-is to an investor, we recommend that you have necessary repairs made so that the property will sell quickly and bring the highest price.
At the conclusion of our free on-site property inspection, we can provide you with a list of recommended repairs. If you decide to have repairs made, we can obtain bids for you, from local, reputable Colorado contractors, including contractors of your choice. This is service is included when we list your estate.
Business, Commercial & Multi-Family Property Sales
If part of the estate includes commercial real estate, apartment buildings, or a small business, we have good working relationships with reputable, local Colorado commercial real estate and business brokers. Please contact us for a free referral.
