The Estate of Thomas Fred Sheya
El Dorado County Probate Case
No. PP20180054

Very difficult case. The son and Administrator of the Estate had employed a Probate Attorney in El Dorado County to conduct the Probate of this Estate. The initial hearing date was scheduled for May 09, 2018 at the El Dorado County Court. The Estate consisted of mainly a single family residence situated on 5 acres located at 2520 Tolowa Trail, Placerville, CA 95660. The Probate home had a good deal of equity in it. The problem was that a notice of default had been filed on January 29, 2018 which started the foreclosure process. It was likely that by the time the son received his official appointment by the Court at the May 9th hearing date, a Trustee's sale would have already taken place and the home would be gone along with it the equity, and leaving the son and his family with nothing. To make matters even more difficult, the son resided in Texas and was trying to do all this long distance on a limited budget. On March 28, 2018, we made initial contact with the son and discussed the situation with him listening and understanding what he wanted to do. After the son decided to employ our Probate real estate sales services, we made contact with the tenant who was a friend of the Decedent and his son, and was still living in the home. We assisted the tenant in preparing for moving, and helped in trying to locate a new place of residence. Unfortunately, a Trustee's sale date had been scheduled, and it was now a race against time to get the Probate home sold. We suggested to our client that he price the Probate home just slightly under market value in order to generate interest in the home quickly since we were up against the forecloure sale clock. We ended up generating multiple offers, and accepted finally an offer which was over and above the asking price. We faced a problem in that escrow would not close until after the scheduled Trustee's sale date. We constantly negotiated with the lender during the sales process and was able to get the lender to extend the foreclosure sale date out far enough which would then allow the sale of the home to complete, and then the son and his family realize the equity in the home. There were many, many issues with inspections, further negotiations after inspections with the Buyer and the Estate. We were there for most of the inspections, assisted in getting some minor repair work completed on the home which was necessary to satisfy the Buyer's lender before they would give final approval for the Buyer's loan. We made sure that all of the Probate paperwork was in order, signed, filed and provided to the Title Company so that escrow could and did close on time, and well before the scheduled Trustee's foreclosure sale date. Naturally, the son and sole heir to his late father's Estate was thrilled because he was able to realize the equity in the home. Prior to The Probate Source getting involved and assisting both the son and the Probate Attorney, the Probate home was heading fast for a foreclosure sale and complete loss to the Estate.

2520 Tolowa Trail, Placerville, CA 95660M
ORIGINAL LIST PRICE = $189,900
SALES PRICE = $211,000


© The Probate Source 2019, William C. Hayman - Licensed & Bonded California Legal Document Assistant, Placer County Registration #16-004. NewVision Realty Group, 951 Reserve Drive, Ste 140, Roseville, CA 95678, California BRE #02000748. I (William C. Hayman) am not an attorney. I can only provide self help services at your specific direction.