Showing posts with label east palo alto probate real estate agent. Show all posts
Showing posts with label east palo alto probate real estate agent. Show all posts

Friday, January 6, 2017

How Does East Palo Alto Just Cause Eviction Affect A Probate Sale?

East Palo Alto Probate Sale

If you are the Administrator of an East Palo Alto Probate Estate that has rental property to sell you need to be aware of the portion of the East Palo Alto Rent Control law that pertains to Just Cause Eviction. You need to know the rules in order to make sure the property is sold without breaking any laws.

East Palo Alto has both RENT CONTROL and JUST CAUSE EVICTION

Just Cause Eviction means that tenants cannot be asked to vacate just because the lease is up or they are on a month to month rental and you give 30 or 60 days notice (if they have been there a year or more). THEY CAN NOT BE EVICTED EVEN IF THE HOME IS BEING SOLD.

Tenants can only be told to leave an East Palo Alto Rental Property under the following circumstances:

1.)    Failure to Pay Rent
2.)    Continuous Violations of the Rental Agreement
3.)    Willful or Substantial Damage to the Unit or Premises
4.)    Refusal to Sign a Substantially Identical New Rental Agreement (Upon Expiration of Prior Rental Agreement)
5.)    Continued Disorderly Conduct
6.)    Refused the Landlord Access to the Unit
7.)    The landlords right to undertake substantial, necessary repairs as permitted by the City or East Palo Alto
8.)    Removal of the Rental Unit from the market by demolition as permitted by the City of East Palo Alto
9.)    Landlord or immediate family member wishes to occupy the unit as their primary/principal residence
10.)  Failure to vacate the unit under a temporary rental agreement


While single family homes and condos are exempt from rent control they are not exempt from Just Cause Eviction. If you are an Administrator of an East Palo Alto Probate Estate  JUST CAUSE EVICTION rules will apply to the estate.

Some things you should not do before selling the building are:

  1. Try to evict the tenants because they make the building look messy.
  2.  Try to evict the tenants because the property is dated and you want to upgrade it before putting it on the market.
  3.  Raise the rents above the allowable rent increase so the CAP rate looks better and makes the property more valuable.

Some things you can do when you are selling an East Palo Alto home in Probate.
  1.           Paint the exterior
  2.           Make sure the tenants do not leave personal property outside the home.
  3.           Upgrade the landscaping
  4.           Give the tenants an incentive to keep their clean and allow showings.
  5.           Offer the tenants money in exchange for voluntarily leaving the home. My clients have offered to pay the tenants enough to move. They have paid for moving vans, deposits on new rentals, first months rents, and additional financial incentives.

If the tenants do not want to move you will need to sell the property with the tenants in place and the new buyer can either continue their rental or get the tenants out because the new buyer or a family member is moving in.

Just remember the East Palo Alto real estate market is strong, and even with rent control and Just Cause Eviction there will be buyers for your East Palo Alto home in Probate so relax, hire a great real estate agent who knows Probate (like myself) and let the process work itself out.

If you have any questions about selling or buying Probate property in Santa Clara or San Mateo County please feel free to contact me.
Marcy Moyer
Keller Williams Realty
650-619-9285
www.marcymoyer.com

Thursday, June 5, 2014

Selling An East Palo Alto Probate Sale Off Market Is Not The Best Way

East Palo Alto Probate Sale

A few months ago I was contacted by an administer of a probate estate in East Palo Alto. He wanted to sell his mother's home but was in a quandary. His mother had died last year and all her belongings were in the house. His sister was still living in the East Palo Alto probate home and she was a hoarder. The home was a mess and his ill sister did not want to move out until the house was sold.  Since all the heirs have to agree to the sale, and his sister was hard to convince to co -operate, he did not know how to get the house sold so they could close this East Palo Alto probate.
I explained they could do an off market sale where the house would not be exposed to the public and there would be very little disturbance to his sister.  I also explained he would get less than he would on the open market. My client thought if he could get around $390,000 he would be satisfied. I called an investor I knew who flips homes and he immediately offered $385,00 for the home. However after further investigation he dropped his price to $360,000 which my client did not want to take. It is so common for investors to offer you a price you will take to tie the house up, and then lower it after you are in escrow, with the hopes you will agree.
In this case my client did not agree and canceled the sale. He managed to convince his sister to leave the house so we could sell it. After a little de cluttering, but not that much, I put the home on MLS, did pre sale inspections, and held one open house. My East Palo Alto probate sale received 6 offers and sold for $422,000.
The East Palo Alto estate receive $62,000 more by going on the open market, 17% more than the investor was willing to pay. I hear this story over and over again. Many investors will try to convince an Administrator of an Estate to sell the home off market because it is a mess, or needs repair, or just ugly.  If the Administrator is not familiar with the market or just overwhelmed it may seem like a good idea. It is not. 
If you hire a real estate who is familiar with East Palo Alto probate sales and knows how to properly prepare a home to bring out its best attributes, then selling off market will be a financial loss. Let the East Palo Alto real estate agent do the work and you can collect the money.
If you have any questions about selling an East Palo Alto probate home please feel free to contact me. I have a proven system to prepare and sell probate homes to get you the best price and terms.

Marcy Moyer
Keller Williams Realty Palo Alto
Cal BRE 01191194
650-619-9285

Thursday, September 20, 2012

East Palo Alto Probate: Court Confirmation May Not Be Needed: Meaning?


When a home is sold through the probate system sometimes court confirmation is required, and sometimes it may not be required. The operative word here is MAY. What this means is that under the Independent Administration of Estates Act, the person in charge of settling the deceased's estate, the Personal Representative, can ask the court if he/she can have the authority to sell a property without court confirmation. Court confirmation happens when an offer is accepted by the Personal Representative and then has to go to the probate court to be approved. At that time there is an overbid process and someone else can come in and offer more money for the house.

East Palo Alto Probate sale
When a probate listing says court confirmation not required or MAY not be required, what it means is that the Personal Representative was given the authority to sell the home without court confirmation and the overbid process, but it is not a done deal. If one of the heirs has an objection to the price or terms of the sale, he/she can petition the court for an overbid process. This is not common unless the Probate Referee, who is the person who estimated the value of the home, says the home is worth more than the offer for the home. So for example if a home was estimated to be worth $500,000 and the accepted offer was $400,000 and the Personal Representative can not show good reason for the 20% difference, the other heirs may want to go to court and object.

So if you are a Personal Representative on an East Palo Alto or other San Mateo County Probate home make sure the agent you chose to sell the home gives you a rock solid market analysis. If the price suggested to list is more than 10% less than the Probate Referee's opinion of value work out the discrepancies ahead of time. It will save countless hours of headaches, and lots of money by not having to go to court.

If you have any questions about selling real estate in probate in San Mateo or Santa Clara County please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285
D.R.E. 01191194

Monday, July 23, 2012

Getting an East Palo Alto Ca Probate Home Ready To Sell Part 1

I have a new listing coming on the market in East Palo Alto that is being sold through Probate. The seller has passed and the home must be sold to settle the estate. Like many homes in probate, this East Palo Alto Probate is filled with personal belongings that need to be disposed. The owners are at a loss, so they hired me, because I specialize in dealing with selling San Mateo County homes in probate and can help them deal with the mounds of personal property.

The Personal Representative of the estate is one of the sons of the deceased. In addition to the home being filled there were also two automobiles, and 2 large mobile bar-b-ques that his father used for his catering business.

The first thing I did was call an auction house DGW who sent someone to look at the home and contents to see if any of the contents were saleable. The Personal Representative had already given the court an estimate of the value of the personal property and his attorney said it was ok to go ahead and sell anything of value so that the money could be distributed amongst the heirs when the estate is settled.

The rep fro DGW said there was some value in the estate and suggested we call the office to set an appointment for pick up. This auction house will pick up the items they think they can sell and take them to auction. We had the pickers come to the house and remove those items which they thought they could sell. It was only a small portion of what there actually is. They said furniture, especially upholstered furniture has no market and they only took the cars, the stetson hats, some tools, sewing machines, and some very nice boots.

When they left the house was still packed.

So then what?

Well, the next step is the other son is inviting the family to come and take what they want. This is ok, because they can prove the remaining items have no monetary value. They could not do it before the appraiser from DGW came and said everything left is not salable.

I will go there after the family has taken what they want and assess the situation.
This East Palo Alto Probate is to be continued.

If you have any questions about trust or probate sales in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9295
D.R.E.  01191194