Disclosing a Death in a Mountain View Trust Sale

California has a lot of disclosure laws for the protection of all parties in a real estate transaction, particularly buyers. There are buyers who do not want to buy a home where there has been a death on the property, and there is a disclosure obligation to disclose if there has been a death in recent years.  This works very well if the seller has to fill out the Seller's Supplemental Disclosure or The Seller's Property Questionnaire and Supplemental and Contractual Disclosure forms. But many trust properties are exempt from those disclosures, and many of those properties would be more likely to have had a recent death.  So what do you do if you want to know if there has been a death on a Mountain View home that is exempt from seller's disclosures?

The answer is really simple, ASK THE SELLER.  What you have to do is for you or your agent to ask the seller's agent to ask the seller directly if the owner died in the house.  While the trustee or executor does not have to fill out the written disclosure asking about a death, they do have to answer honestly. Trust me, the person selling the house will know.

The trust advisory that the buyer is supposed to sign when they make an offer tells you to do that. It says "If the Property is being sold because of the death of an occupant of the Property, and if Buyer has concerns about the manner, location, or details of the death, then Buyer should direct any specific questions to the seller."

so if you are concerned, ask.

If you have any questions about buyer or selling a property in Trust or Probate anywhere in San Mateo or Santa Clara Counties, please fell free to ask me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

650-619-9285

marcy@marcymoyer.com

DRE  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

There is Gold In That Silicon Valley Probate or Trust Sale

Have you ever noticed that homes where there has been a death on the property sell for less than a comparable home where there has not been a death ?  In California it is mandated that if there has been a death on the property it must be disclosed. There are many people who do not want to buy a home if there has been a death because either they think it is bad luck, or they feel that other people will think it is bad luck, and therefore have bad resale value.

Problem: with the incredible growth of home hospice, as well as an aging population, a lot more people are dying at home.  Most relatives do not tell their family members to go die somewhere else so the house is worth more. No, they provide loving hospice care so that people can die in peace in familiar surroundings.

Solution on the horizon.  More and more buyers are saying that they do not care if someone has died, but they are worried that a future buyer will care or their parents will say it is a bad investment.

If you understand the premise that real estate is long term investment and not a short term road to riches for most people, then you can see that the younger generation of buyers are not nearly as worried about ghosts as their parents. Over time, the parents will be gone, and this generation will probably have very few people who are concerned about a death on the property.

The point of this:  If you buy a Silicon Valley probate or trust sale and there was a death on the property you will probably get a great discount.  The homes I list where there has been a death are selling about 10% less than homes where there has not been a death.  If you sell again in 10-15 years there will probably be many fewer buyers who care and you may make 4-7% just on the death in house issue plus any appreciation earned over time and for modernizing a home.  On a $600,000 that is $24,000 to $42,000 just for buying a Silicon Valley probate or trust sale where there has been a death. For a million dollar property that is $40,000 to $70,000.

So, maybe it is time to re-adjust your thinking about what was once considered a major flaw in a property.