How to Protect a Loved One’s Estate
One of the worse questions I get asked when I tell people I am a Realtor specializing in selling estates, seniors moving to assisted living and people going through a divorce is: “Great, than you can get me a steal on a property, right?” I usually look them straight in the eye and say “So, you want me to help you take advantage of someone who is going through, what perhaps, is the worst time of their lives?”
Unless Tony Soprano is coming to your door tomorrow, there are very few reasons an estate property cannot be sold at very close to market price within 30 days. An experienced Realtor who focuses on probate/estate real estate will take steps to ensure you are aware of what the house should sell for.
Every Realtor should prepare a CMA- comparative market analysis for the property. This consists of comparing your property to similar homes on the market, under contract and recently sold. A range of prices depending on how long a seller is willing to have the property on the market will be discussed.
I deliver an extra level of comfort by providing an additional report, a BPO-Broker’s Price Opinion. This is a more in-depth analysis conducted by an independent licensed real estate professional. A BPO is used by banks to determine what selling price a property should receive in 30 days.
Together, the seller and I will review the CMA and the BPO and decide the best listing price for the property. Legal status of the probate, time-frames and condition of the property are important factors used in determining the market strategy.
Please don’t let a friend who is in a vulnerable position because of the death of a loved one, having to move a relative into a senior living community or going through a divorce lose a considerable amount of money to what I consider thieves. Use a specialist in this type of real estate, we provide the experience and knowledge that general Realtors do not have.
Rande Friedman is a licensed Realtor in Tampa Bay with over a decade of experience. Specializing in helping people through their most vulnerable times when selling a loved one’s estate, helping people move a relative into a senior community and people going through a divorce.