When someone dies without a living trust and leaves real property that needs to be sold to settle the estate, a Certified Probate Real Estate Advisor (CPREA) will make the entire process simpler, for you. A CPREA has specific expertise and a proven system that will make the preparation and sale of your loved one’s home easier.
Traditional real estate agent vs a CPREA
Most real estate agents do not have the needed expertise to guide an executor or administrator. The typical real estate transaction means that a sign is placed in the yard, photos are taken, and the property details are included in postings for the public to see on the Internet.
Meanwhile, the executor or administrator has the following concerns:
- What should I do with all the personal property?
- What cost-effective changes can be done to maximize the buyer’s interest and ultimately the selling price of the house?
- How can I manage all that needs done when I do not live in the area of my loved one’s home?
When I helped my first executor, I didn’t know how to guide the family because I didn’t have any experience. Since then, my team and I have helped hundreds of executors, administrators, and trustees. I can honestly say that there isn’t any situation that I have not experienced and drafted a solution so that the real estate sale obtains the best price and terms, maximizing the estate’s equity.
How is a probate real estate sale different?
What I’ve discovered is that unlike typical real estate transactions, the probate real estate transaction has a myriad of details that must be addressed, way beyond the simple act of putting a sign in the front yard. These details include:
- Personal property must be addressed, including clothing, furniture, household goods, the decedent’s vehicles, and more.
- Once personal property is removed, there may be cost-effective repairs to undertake, such as cleaning the property and carpet and perhaps some painting.
- During the marketing and sales period, the property must be maintained. Additionally, the house should be checked on a regular basis because most homes in probate are vacant.
I’ve been helping many executors, administrators, and trustees with real estate. I have provided all of these extra services at no additional fee to the estate. The truth is that I am passionate about maximizing the equity for the estate. The commission or fee that you would pay any traditional real estate broker includes all of my team’s specialized services.