|1. Work with the Successor Trustee to help decide if selling the Trust home "as-is" or spending limited amounts of money on repairs/maintenance makes more sense in an attempt to bring in a top dollar sales price.
||1. Prepare the Notice of Sale documentaion for the sale, make sure all Trust beneficiaries receive Notice of the sale in a timely manner, and make the Title Company has copies on hand for the close of escrow.
|2. Marketing of the home not only on the Multiple Listing Service and all of the top Internet real estate sites such as Zillow, Realestate.com, Redifin, etc., but also marketing the home to local Realtors,
San Francisco Bay Area Realtors, investors, and our own private list of investors that have expressed specific interest in Trust Probate homes and properties. We have a designated list of investors that have asked
us to keep them apprised of Trust & Probate homes and properties that have come onto the market.
||2. Make sure that the Title Company has copies of all Trust related documenation they will need in order to close escrow on time.
|3. Make sure that all potential Buyers, their Agents and Brokers, are fully informed that the sale is a Trust sale, and not a regular real estate sale. Make sure that all potential Buyers, their Agents and Brokers,
are aware of whether or not the Trustor passed in the home, and that the Successor Trustee and/or Trust beneficiaries did not live in the home and have limited knowledge on the condition of the home (if that is the case).
||3. Make sure that all public and/or governmental agencies have received notice of the Trust administration as far in advance as possible of the sale of the Trust home or real property. This is done to help ensure that
if any type of claim from such an agency is coming or due, the Successor Trustee can, if he or she wishes to, arrange to have such claims paid directly from escrow from the proceeds of the Trust home sale. This is sometimes
an easier way to deal with it rather than after the funds are received from the sale. It may be a lot easier to explain to Trust beneficiares that a claim was paid directly from escrow "automatcially".
|4. Work with potential Buyers and their Agents to make sure that they are fully informed that the sale is a Trust sale, and the property is being sold "as-is". Help them to undestand the nature of Trust home sales
and that they should not expect the Seller (The Trust) to be willing to do much, if anything, in terms of repairs and/or maintenance to the property other than what may have been done in preparing the home
to list for sale. It is important that Buyers and their Agents understand the special circumstances of the Trust home/property sales. Not properly informing the Buyer and his or her Agent of the nature of a Trust home
sale can sometimes "scare" them off into the purchasing of another home which is not involved in a Trust sale.
||4. Make sure that the Seller (the Trust) has the proper taxpayer id number for the Trust in place. The Trust MUST have this in place in order for escrow to close. Many Realtors and Brokers not familiar with
Trust sales miss this entirely, and it is a very important element of the real estate sale that needs to be taken care of prior to close of escrow. The Title Company must have this information in their file prior to
close of escrow.
|5. When selling a Trust home or property, there are a number of exemptions that the overall real estate sale may be exempt from and not required to comply with. Most Realtors are unaware of these exemptions, and that
can end up costing the seller additional time and money because of the Reator's lack of knowledge here.
||5. Make sure that the Seller (The Trust) has set up the Trust bank account, and it is ready to receive the sales proceeds from the Trust home sale. This is another unique requirement of a Trust sale, and the Title
Company will not be able to wire funds into just any account. They must have a propertly set up Trust account to wire funds into.
|6. Make sure that the Seller (the Trust) receives a copy of the final, certified, statement from the Title Company after close of escrow. It is very important that the Successor Trustee of recieves a copy of this
as he/she will may it for both Trust accounting and tax purposes later.
||6. Make sure that all of the applicable real property ownership change forms have been prepared and filed with the County Assessor for each county in which the Trust has existing real property. This step is often
overlooked, and failure to prepare and file these forms can lead to fines levied on the Trust and/or beneficiaries from the County Assessor later.
|7. There are many other issues and variables that are unique to each Trust home/real estate sale. We make sure that any issues that come up are taken care of and resolved in a timely manner.
||7. Make sure that proper Trust related records for the entire Trust home/real esate transaction are kept and made ready for when the time comes to prepare the Final Trust Accounting. The final Trust Accounting
needs to be done and provided for the Trust beneficiaries in order to help insure the Successor Trustee against possible future problems should a Trust beneficiary come forward at a later date to dispute something.