Probate Personal Representative Short Sales House in Lutz, Florida
It’s hard enough when a loved one passes away to deal with their estate but did you know that when there is real estate involved in an probate estate, the probate cannot be closed until the real estate is transferred to the heirs. What happens when the house is in foreclosure and the heirs don’t want it? Well, you need to do a short sale and sell the house. If you don’t, it could take the bank years before they complete the foreclosure action stopping the family from having closure.
Sell Fast Realty recently helped a Probate Personal Representative short sale a property. It was simple and easy to process the short sale as the original short sale package wasn’t needed. All we needed was the death certificate of the individual along with the letter of authority from the personal representative. This personal representative tried for a long time to sell the house but no one wanted to buy it.
Sell Fast Realty, Kimberlee Frank and Linda Trimpey, was able to sell the property after a couple of buyers and a few hiccups with delays from the bank. The first buyer couldn’t wait until we received the approval letter and backed out of the purchase. The following day we received the approval letter from the bank. The buyer didn’t care and had moved on. We found another buyer with the exact terms (price and closing costs). The bank then decided to other another value on the property. The negotiator countered the buyer’s offer. However, I provided the new negotiator with the approval letter. He said that it didn’t matter and he wasn’t going to send it to the investor for review. I informed him that the bank was receiving $4,000 more but he said it didn’t meet the investor’s guidelines. He also added that the bank wasn’t going to pay the homeowners association dues and pay the personal representative fee. I said this is ridiculous. I called two different supervisors and after I called for 7 days straight and emailed every contact I had at the bank, I finally got to speak with a supervisor who said “it is approved as is – with the same terms from the first buyer.” The Probate estate did not have to pay any money for a deficiency judgment nor did they have to pay for Sell Fast Realty’s commission. The Personal Representative received $500.00 in order to process the sale. The probate can now be closed and the family can have closure.
If you know anyone who has a Probate estate and needs to sell their property in Central Florida, call Sell Fast Realty at 407-888-3433 and we will be happy to help. Or, if you are a Realtor and need help with your short sales, go to www.ShortSaleNegotiating.com
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