Santa Clara Ca Pre-Sale Dry Rot Bath Repair Turns Is Not That Simple

I am currently getting a Santa Clara Probate sale ready for market. However, for a variety of reasons the Personal Representative has decided to let the Santa Clara Probate Process finish up before putting the home on the market. As a result, she has now inherited the home outright and so the rules have changed some.

This means that she can now do repairs on the house without putting the Santa Clara estate in jeopardy of increased liability. The previous owner was almost 100 years old when he died and there is a lot of differed maintenance. 

Both bathrooms were completely filled with dry rot, besides being old, ugly, and dirty. She made the decision that it was worth having the termite company come in and get rid of the dry rot, replace the fixtures, and re tile the bath rooms before selling this Santa Clara home. That seems very straight forward right?

The termite company came into this Santa Clara Probate home before sale and removed everything in the original baths, put in new shower valves, and then called the city in for an inspection.  The Santa Clara city building inspector came to the house and said the work was fine, but in order to final the permit the contractor had to hard-wire the house for smoke detectors and carbon monoxide detectors. Just putting them on the walls was not enough. He wanted them all hardwired together. Plus, he wanted motion sensor detectors in the light switches in both bathrooms. Neither the contractor nor the owner of the termite company had ever had to do this before, and they rip up bathrooms every day.

However, as the expression goes, you "Can't fight City Hall." If the Santa Clara Building inspector says all the smoke detectors and carbon monoxide detectors have to be hardwired and the light switches have to be motion sensor-ed then it will get done. 

The electrical panel is old, has fuses, and needs to be replaced. My client decided she was not going to do it for fear they would ask her rebuild the chimney in order to get a permit to replace the electrical panel. Some cans of worms are not worth opening.

If you have any questions about selling a home in Probate please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

BRE 01191194

650-619-9285

I found the Most Unusual Thing At My Santa Clara Probate Listing

As a Santa Clara Realtor who specializes in Probate Sales I have found many unusual things left at house that were not wanted or noticed by the heirs. Since I offer to clean out and stage the Probate Homes I sell I get to deal with al the junk that is left behind.

You see when someone dies an estimate of the value of the personal items is given to the court. After that the items that were left to specific people are distributed. These are usually the things of monetary or sentimental value like jewelry, artwork, or good furniture. Sometimes there is no will, or no specific designation, so any valuables will be sold and the money added to the money that will eventually be divided amongst the heirs. This can be done by an estate seller, a garage sale, or an auction house.

What is left is trash, things to recycle, and things to donate. This is where I come in. I bring in my crew and we recycle metal, paper, cans, old appliances, anything that can be recycled, donate anything that Goodwill or Saint Vincent DePaul will take, and trash the rest. After that I get the home painted, make sure the flooring is fresh, and fully stage the house.

We look at every item to make sure it really is worthless and that there is no money in a pocket or under a mattress. We have found some unusual things, but what we found at my latest Santa Clara Probate Sale is a first for me, someone's ashes. This person died in 1951 and we had no idea whose they were. The owner of the home was 100 when he died, and his closest relative who is the Personal Representativeof this Santa Clara Probate home is a much younger cousin and had no idea who the ashes belonged to.

After speaking with a neighbor we discovered that the ashes belonged to the owners son. They had been living in NYC in 1951 when their 5-year-old son was hit by a bus and killed. Our 100-year-old owner had kept the ashes with him for 62 years. My client, the younger cousin has taken the ashes so the two can be buried together. I was so happy to be able to do this for the family.

It is very satisfying to take a probate home from trash filled to cleaned up, painted, and fully staged in order to increase the value for the heirs, which is what I do. But it is even more satisfying to help a family preserve memories and wishes.

If you have any questions about selling a home in Santa Clara in Probate please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

BRE 01191194

640-619-9284

Santa Clara Trust Sale Goes Very Wrong! (Not My Listing)

I got a call this morning from a very sweet but distraught woman about a home in Santa Clara that belonged to her grandmother and was supposed to be a trust sale. However the home is now 2 weeks away from a foreclosure sale and this did not have to happen.

Here is the situation:

1. Grandmother owned the home and took out a reverse mortgage with Wells Fargo. 

2. After Grandmother got her reverse mortgage and before she died she put the home in a trust and did not inform Wells Fargo she had done this.

3. Grandmother dies and the successor trustee, grand daughter is in charge of dealing with the house. 

4. Granddaughter tells Wells Fargo she is the successor trustee and will be selling the house which is a requirement with in 3 months of the owner passing or leaving the house.

5. Wells Fargo tells Granddaughter they were never informed that the house was in a trust and they 

can not speak with Granddaughter because Grandmother never gave them permission and never transferred the reverse mortgage into the trust with their permission.

6. In April Wells Fargo records Notice of Default.

7. Granddaughter calls a lawyer who says he does not know why this happening but does nothing.

8. In July Wells Fargo records Notice of Trustee sale for Aug 13.

9. Granddaughter call me for advice. 

10. I tell her to call my lawyer, Rebeccah Miller at Lakin Sprears in Palo Alto to try to get this sorted out.

I have no idea what the legal issues are here with the home being put in a trust without Wells Fargo knowledge. I do know that this sort of issue comes up often and can not be ignored. If you do not act in a timely manner the estate can lose a home to foreclosure. I have written about this before. http://actvra.in/P75

If the home were in Probate then the Probate lawyer could go to a judge for an emergency postponement of foreclosure. I am hoping this can happen in a trust as well. Or maybe they can open a Probate since it looks like maybe the loan/house can not be in the trust and they need to probate it. In that case if someone works quickly enough a judge could stop the foreclosure.

The point I will make again is: IF YOU ARE IN CHARGE OF A HOME OF SOMEONE WHO HAS DIED EITHER AS A PERSONAL REPRESENTATIVE OR A SUCCESSOR TRUSTEE DO NOT PUT YOUR HEAD IN THE SAND. DEAL WITH THE MORTGAGE WHETHER IT IS A TRADITIONAL OR A REVERSE AND MAKE SURE THE HOME DOES NOT GET FORECLOSED BECAUSE SOMEONE, INCLUDING YOUR LAWYER DROPPED THE BALL.

If you have any questions about selling a home in Probate or Trust in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE 01191194

650-619-9285

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

Request Pay Off Early In A Santa Clara Probate Sale In Foreclosure

It is a common occurrence in the Silicon Valley for homes that are in Probate to also go into default. For many older home owners there is scant cash in the bank, they may still have a mortgage, and without a trust a home goes to Probate. When that happens the bills, including the mortgage do not get paid until a Personal Representative is appointed by the court. This can be a lengthy process if there is a disagreement amongst heirs as to who should be in charge. Unfortunately that is a very common occurrence in Santa Clara probate sales.

So while the relatives are arguing over who rules the Santa Clara Probate roost, the mortgage does not get paid and the lender starts the foreclosure process.

Once at least three payments are missed a Notice of Default may be filed on the Santa Clara Probate Sale. This notice will give you three months to cure the default. If the owned money on the Santa Clara Probate home is not paid during that three month period a Notice of Trustee Sale can be filed and the Santa Clara Probate home can be sold three weeks after that.

The attorney for the Santa Clara Probate home can go to court and get an order to temporarily stop the foreclosure process while the estate is being settled, but this takes some time as well.

Because the inventory is so low and the demand for homes is so high in Santa Clara, most Santa Clara Probate Sale homes can be sold and ownership transferred during the Notice of Default period. The defaulted loan on the Santa Clara Probate home can be paid off, and the rest of the equity used to pay the other bills and then distributed to the heirs.

Sounds simple, but sometimes it isn't. Once a loan on a Santa Clara Probate sale goes into default it is transferred to the loss mitigation department. Sometimes that is the equivalent of going into a black hole. These departments are overwhelmed and under staffed. It can take many weeks to get pay off information from them. In a traditional sale the title company will order pay off information less than a week before closing which is more than enough time to determine exactly how much is owed by the seller to pay off their loan.

In a Santa Clara Probate sale when the loan is in default it can take many weeks to get the pay off information. The title company should start the pay off demand as soon as there is a contract. That way, maybe 30 days later they will have the figures to pay off the loan.

If it is a short escrow period for the Santa Clara Probate Sale it is possible that everyone might be ready to close and there is still no pay off demand from the lender. When this happens, the escrow can still close and title can be transferred, but the money can not be distributed until the mortgage is payed off, and the estate will have to pay for a mortgage on a home it no longer owns until the bank gets its money.

So if you are involved in a Santa Clara Probate Sale and there is no money to pay the mortgage make sure that the process is started right away to get the pay off demand for the loan or the estate will be paying on the loan after the escrow is closed.

If you have any questions about Probate Sales in Santa Clara or San Mateo County please feel free to contact me.

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

Probate Referees: Why Are They Used?

At the beginning of probate when there is a petition to administer the estate the court will appoint someone to be the personal representative of the estate. This is often the person that was named as the executor in the will, unless that person is unavailable, unwilling, or there is a challenge from someone else. Once the personal representative is appointed, the court will also appoint a probate referee.  This person is charged with valuing the estate including the personal property and real property. There is a form that the personal representative is supposed to fill out within 60 days which gives the value of the estate for both tax purposes, and in order to settle the estate.

The referee will determine the fair market value for the estate and in the case of a probate sale that needs court confirmation the general rule is that the offers should be within 10% of this value.  It is possible to sell the home for less, but a little trickier and often involves re-doing the appraisal. The sales that require court confirmation can not be confirmed until the referee has valued the estate. 

 If the personal representative has full authority to sell the real property without court confirmation then the sale can go through, but the probate can not be completed and the monies distributed until the referee has done his or her job.

If you have any questions about buying or selling a home in probate in San Mateo County or Santa Clara County, please feel free to contact me. I am an experienced probate realtor.

Buying or Selling a Santa Clara Probate Sale: Don’t Let Little Things Get Blown Out of Perspective

My most recent Santa Clara probate sale has some issues.  The home is old and dated. I did as much staging and cosmetic fix ups as possible, but it is still old and dated.  The windows are single paned, the hardwood floors need refinishing, the bathrooms have old tile and one has only a bathtub and no shower, and to top it off the owner died in the house.  This is very bad luck for many of the buyers in this neighborhood.  After three weeks on the market we got a signed contract. The average marketing time in this neighborhood is 47 days.  The home had just had a price reduction and the offer was for full price at that reduced price.  Needless to say I was ecstatic. However, a few days after the contract was signed the buyer was at the house and for some reason got very worried because there was no key for the door from the garage to the side yard.  The executor of the estate only gave me one key and I was not sure if it opened that door or not.  The realtor said we had to give them a key before closing escrow.  The next day I went to the house and discovered the front door key opens that door as well. However, before trying it I told her if it did not work I would get a new key for that door.  Problem solved.

So what was really the issue here? These buyers are purchasing a Santa Clara probate sale which must be sold “As-Is”  They were willing to accept the condition of the house and the fact that there was a death on the property. However, for some reason the small issue of the key rubbed them the wrong way. This is very common in all transactions. I was guilty of it myself once when selling my own house. A $200 issue made me crazy. The real issue is that this is a huge financial transaction, and since you have so much at risk and many things that are out of your control, whether you are a buyer or a seller, it is easy to focus on a small issue where you do have some control.

But the real truth is that these buyers are getting a Santa Clara Probate for a great price and my sellers are getting a home they need to sell to settle the estate and all of the tax advantages for selling now.  So these smaller issues need to acknowledged for what they are, solvable. Someone will step up and be the grownup, hopefully one of the realtors, and let the principals move on with their major goals. This is an emotional time for all parties so do not be surprised if some small problem takes on a life of its own.

Marcy Moyer

Keller Williams Realty

marcy@marcymoyer.com

www.marcymoyer.com

650-619-9285

Santa Clara CA Open House This Weekend: A Great Home in a Great Location!

Front View

OPEN HOUSE THIS WEEKEND

Saturday September 16th 1-4

Sunday September 17th 1-4

Are you looking for a home in an idyllic neighborhood with great schools, close to conveniences, and with plenty of recreational activities?  

If so, the 3126 Ryan may be the home you have been waiting for. Here you will find 3 bedrooms including a master suite, 2 bathrooms, and separate family room, living room, and large eat-in kitchen plus a fully landscaped 6,000 square foot lot, attached 2 car garage, and a place to make wonderful memories.  





There are hardwood floors in the living room and 3 bedrooms, pergo in the family room, a new kitchen counter and floors, new dishwasher, and fresh interior paint. The excellent Santa Clara Schools include Sutter Elementary, Buscher Middle, and Santa Clara High. (buyer to verify)  


The neighborhood includes a swim club, ample shopping, and is convenient to major transportation routes.  

Don’t miss out on your opportunity to live the “California Dream.”

A Great Home in a Great Neighborhood: Santa Clara Ca Open House This Weekend

Front View

OPEN HOUSE THIS WEEKEND

SUNDAY September 12th 1:30-4:30

Are you looking for a home in an idyllic neighborhood with great schools, close to conveniences, and with plenty of recreational activities?  

If so, the 3126 Ryan may be the home you have been waiting for. Here you will find 3 bedrooms including a master suite, 2 bathrooms, and separate family room, living room, and large eat-in kitchen plus a fully landscaped 6,000 square foot lot, attached 2 car garage, and a place to make wonderful memories.  





There are hardwood floors in the living room and 3 bedrooms, pergo in the family room, a new kitchen counter and floors, new dishwasher, and fresh interior paint. The excellent Santa Clara Schools include Sutter Elementary, Buscher Middle, and Santa Clara High. (buyer to verify)  


The neighborhood includes a swim club, ample shopping, and is convenient to major transportation routes.  

Don’t miss out on your opportunity to live the “California Dream.”

I See Dead People or Why is a Probate or Trust Sale Like an REO?

My sister in law as executor of the estate just sold my mother and father in law’s house.  She chose a realtor who lived in the neighborhood who also was an reo realtor without a lot of reo inventory right now. (Not an unusual situation)  She turned out to be the perfect agent for the job because of her REO background.  She took a home that was filled to the brim with things that no one in the family wanted, had it cleaned out, trashed out, secured,  on the market at an aggressive price, and sold in 2 weeks.  I couldn’t have done better myself, except I would have staged it, but that is a separate story.

Getting a probate or trust sale ready for market is very similar to an REO.  When a homeowner dies his or her personal property must be disposed.  Things of value need to be appraised for tax purposes and are distributed accorded to the terms of the will, or in the case of no will sold and the money distributed according to state law.  There is often much left over that is not of value and someone needs to trash the home out, much the same way as an REO home is trashed out.  This job is often left to the realtor. The home will almost always be vacant, and again the realtor will need to make sure it is secure.

While probates and trusts do have some differences in the technicalities of sale from an REO, many of the disclosure exemptions are the same.  The executor is exempt from the  transfer disclosure, the seller’s questionnaire, the smoke detector requirement, and signature on the natural hazard report, but not exempt from providing the report.  If the realtor knows anything about the property he or she does have a duty to disclose anything that is material.

Homes that are sold through probates or trusts are very often not perfect.  There may have been a death on the property or there could have been many years of deferred maintenance when the owners got older.  They may even have been left empty for a period of time while the owner was in assisted living or a nursing home.  Like an REO property the realtor must make adjustments to the suggested price based on these issues which are common to both kinds of sales.  (Generally the death on the property is not found in REO properties, but it can happen.)

The other big similarity is that both REO homes and trust or probate homes have to be sold.  They are not owned by people who have the luxury to test the market and sell if they get the price they want.  They need to be sold, either to settle an estate or in the case of an REO to mitigate a loss.  As a result they are a wonderful opportunity for a buyer to get a home at a great price or a realtor to get an assured sale.  Both sides win in these types of sales.

So why the comparison?  If you are an REO realtor and add probates and trusts to your repertoire then many of the skills you have learned are very useful.  If you are an investor it is a good place to look when REO inventory is not getting you everything you want.  If you are an end user buyer these homes are worth exploring because of the motivation of most of the sellers.

A Great Home in a Great Neighborhood: Santa Clara Ca Open House This Weekend

Front View

OPEN HOUSE THIS WEEKEND

SATURDAY September 4th 

AND 

SUNDAY September 5th 1:30-4:30

Are you looking for a home in an idyllic neighborhood with great schools, close to conveniences, and with plenty of recreational activities?  

If so, the 3126 Ryan may be the home you have been waiting for. Here you will find 3 bedrooms including a master suite, 2 bathrooms, and separate family room, living room, and large eat-in kitchen plus a fully landscaped 6,000 square foot lot, attached 2 car garage, and a place to make wonderful memories.  







There are hardwood floors in the living room and 3 bedrooms, pergo in the family room, a new kitchen counter and floors, new dishwasher, and fresh interior paint. The excellent Santa Clara Schools include Sutter Elementary, Buscher Middle, and Santa Clara High. (buyer to verify)  


The neighborhood includes a swim club, ample shopping, and is convenient to major transportation routes.  

Don’t miss out on your opportunity to live the “California Dream.”