Making Decisions for a Trust or Probate Estate in Los Angeles

by | Mar 8, 2017 | Real Estate

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A trust or a probate estate in Los Angeles is just like anywhere else, it comes with a slew of tightly wound regulations and rules that must be followed to prevent costly penalties. With creating an inventory of the property, selling off property, dividing property, contacting creditors, and paying debts there are a litany of responsibilities that can be overwhelming to those unprepared to deal with the circumstances. Finding a Certified Probate Real Estate Specialist and getting support with selling real estate that is held in a trust or a probate estate can help remove one of many daunting tasks from a to-do list.

Real Estate Sale Options

As part of the fiduciary requirements, when the representatives or trustees consider selling real estate held in a probate estate or trust, all decisions must benefit of the estate. There are primarily two ways to go about disposing of real property:

  • Sell it quickly “as is” for immediate cash benefit and a quicker solution
  • Sell it via the retail market to receive maximum value potential

Both options have their benefits and their drawbacks. A trusted real estate specialist can help the representatives or trustees to decide which option is right for the estate. For example, a quick sale as-is for cash will quickly replenish the estate’s revenue account, but a quick sale is not likely to get the value that the estate might receive if the property were sold retail. On the other hand, listing and selling real property on the open market can take much longer. Many times, in order to receive the best retail value, the property requires repairs with fees the estate is not prepared to spend. Through proper guidance from a Certified Probate Real Estate Specialist, representatives and trustees will be able to make the best choice for the estate.

Trusted Support

A real estate specialist who specializes in trust or a probate estate real estate transactions will have the proper information required to help representatives or trustees make informed decisions about how to sell the property. They will guide the sale process and remove some of the stress from the estate owners. Andrea Shink of Teles Properties is one such agent. Andrea is a Certified Probate Real Estate Specialist who helps in these situations. She can be reached through her website