As a Menlo Park Real Estate Agent I can tell you the market is hot and listings are few and far between. The California drought does not just refer to out lack of rain.
If you are the executor of a Menlo Park estate with real estate to sell you may be thinking this will be an easy job. In some ways it is, because there is little competition and many buyers. This makes for huge jumps in appreciation which is great for the estate. Buyers will make offers way above current market with no contingencies. This can be a blessing or a curse for a Menlo Park Trust sale.
When the market turns south, which it will inevitably do, or if the buyer believes he/she made a mistake, the buyer who made such a great offer may turn around and try to get the estate to compensate him/her for the perceived wrong doings.
The best way to protect the Menlo Park estate is to make sure that the paper work is totally in order. While you may think that any experienced real estate agent can do this, that is not true. I was just involved in transaction where the very successful and "experienced" agent made every mistake in the book when it came to Menlo Park Trust Sales.
1. First mistake: No trust advisory was signed. The trust advisory is a document which spells out which disclosures the estate must provide the buyer and which ones are exempted. Without the trust advisory the executor would have no way of knowing what she was supposed to and not supposed to sign.
2. Seller filled out and signed disclosures that should not have been provided. The seller filled out the transfer disclosure statement and the seller's supplemental disclosure. This should not have been done because now if the buyer discovers something that was on the disclosure or more importantly left off the disclosures there is an opening to claim that the disclosures were wrong. Since the executor did not live in the house these should not have been filled out.
3. Seller signed the Natural Hazard Disclosure instead of just providing it. By signing they vouch for the company. See the same problems as #2.
My buyer did not get her offer accepted on this Menlo Park trust sale and I hope the buyer who does loves the house and has no problems. But, if you are going to hire a real estate agent to sell your Menlo Park trust sale, make sure that person does not make these amateur mistakes. You will sleep much better.
If you have any questions about Menlo Park trust or Probate sales please feel free to contact me. I provide free staging for all my Trust and Probate listings and have a proven system for clean out and cosmetic upgrades to help your home sell for a higher price with no out of pocket expenses.
Marcy Moyer
Ca BRE 01191194
650-619-9285
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