Estate Property Sales
As an agent working with buyers there a couple things i want my clients to know.
1. The estate has a fiduciary responsibility to get as much money at the best terms it can regardless of whether it has already has accepted an offer. How does that impact my buyer client?
2. If they have placed an offer on an estate property and that offer has been accepted the estate will be adding language to the offer and/or the Purchase and Sales that lets my clients know that if another offer comes in that is higher than theirs, the estate is mandated to consider that offer. This language also contains a provision that provides the original buyer five (5) business days to meet or beat the new offer.
3. Estates often want an “As Is” offer.
4. The estate will most likely require a License to Sell to complete the sale. How long does it take to obtain one?
5. call us to find out more…508-258-9010
Because of the demographics on Cape Cod there is a good chance of bumping into estate properties when looking to purchase. There are pitfalls associated with this type of transaction. We have extensive experience representing buyers purchasing estate property on Cape Cod and can assist in avoiding those pitfalls.
Working with sellers involved in estates can be just as complicated. Knowing what should be disclosed to the buyer, how to represent and market the property so it attracts buyers prepared for an estate transaction and including the correct language in the offer and purchase and sales per the estate attorney’s instructions. One of the most important aspects of dislcosure is needed on the listing sheet. Listing agents do not want to make the property sound “scary” on the listing sheet, but they do need to disclose certain things upfront to potential buyers or their agent and that is clearly the best medium.
If you would like more information on purchasing or selling estate property on Cape Cod please call Team OnCapeRealEstate at 508-258-9010, email us at [email protected] or contact us through our anonymous chat on the lower right side of this page..
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