Tensions can run high with real estate transactions. Insert a divorce or family members trying to obtain as much as possible, and these tensions can turn into monumental headaches for everyone involved. I have helped many divorcing couples and estate sellers liquidate their real estate asset and have developed a system that makes the process very efficient.
My "Smart Attorney Step-Forward Sale System" Addresses the 4 Main Issues Associated with Divorce and Estate Sales in Advance:
1. The Appraisal Process
Appraisals are a part of most (if not all) real estate transactions. The normal sale handles the appraisal when the bank orders it for the buyer. With an estate settlement, and a divorcing couple, this is important to handle up-front and before the first showing.
- The Process: With "Smart Attorney Step-Forward Sale System", I provide an appraiser, (or appraisers) that specialize in appraising for divorce and estate sale scenarios. I can arrange the appraiser to access the property, or leave this up to the family members. This is paid for by the owner(s) of the property.
- Benefit: Having an appraisal in hand helps the all parties settle on an asking price. Having that appraisal in hand helps me prove value to agents and buyers, before the see the property, which results in a higher sales price for both parties.
2. The Home Inspection
- Problem: Most transactions can be very tricky when it comes to handling repair requests. Buyers are stressed, and with the added stress of multiple owners not getting along, this combination can lead to a deal falling apart very quickly, prolonging the sale and closing for months.
- Solution: With my "Smart Attorney Step-Forward Sale System" a home inspection is ordered before the home goes on the market. All of the potential "deal-breaker" issues are identified up-front and steps are taken to repair these before the first buyer sees the house.
- Benefit: With a home inspection in hand, and a list of already completed repairs by a licensed contractor, the buyer sees value in potentially not having to spend money on an inspection, they have no fear of the unknown, and the sellers benefit by obtaining 4.8% higher a sales price (on average) than houses that have not had repairs identified and repaired up-front. This also results in a more streamlined sale with less surprise hassles that many times rear their ugly head several weeks into a sale.
- Problem: Many times with an estate or divorce situation one person still occupies the home, while another is not there. It is very important for both parties to know showing concerns and feedback from interested parties.
- Solution: With my "Smart Attorney Step-Forward Sale System" the parties that want communication are identified up front, and an efficient communication system is implemented to let all parties (husband wife, brothers, sisters, the attorneys etc.) know the pertinent information about the process, like showing feedback, as soon as the information comes in to my office.
- Benefit: Everyone involved knows how the public feels about the sale, and there is no convincing necessary for the steps needed to produce a sale.
4. Price Reductions
- Problem: I have found over the years that price reductions are the most difficult aspect of a real estate transaction. One spouse is not living in the home, yet is still paying for half (if not all) of the mortgage. Family members may be tied to the equity and may not have a realistic grip on what is needed from a listing price to produce a sale.
- Solution: Before the home is listed, together (all decision makers involved) we will determine a strategy to sell the house if the market rejects the appraised price of the property. In some cases, I will recommend pricing the home slightly below the appraised value. This leads to higher offers and faster sales. Price reductions are necessary if a home has not shown or sold in 30 days. The "Smart Attorney Step-Forward Sale System" lays out the price reduction campaign and is agreed upon in advance, so the process is transparent to all parties, and trouble free for all parties involved.
You being the expert in your field, I am sure you know that the best cases are settled with the best plan made in advance possible. The same goes for a real estate transaction. With a divorce, whether it is amicable or not, proper planning is crucial for the sake of the sale. Estate sales are tricky because multiple family members have trouble making a clear decision. Buyer's have little patience with sellers that do not agree. My Smart Attorney Step-Forward Sale System focuses on getting all parties to make their agreements up-front so fall-throughs seldom occur.
Lastly, the chances of me personally knowing any of the family members is very low, so my approach is completely unbiased. If I have any connection with either party, I will identify that upfront and provide an alternate solution for the docorce sale if necessary.