This is the dining room of a home that went through the California probate process and the administrator of the estate hired me to sell the property.
The court appointed appraiser gave it a higher value because he assumed the property was in a habitable condition. It did not have a water heater, a portion of the house was missing drywall, and there was much deferred maintenance therefore the property did not qualify for financing.
I have sold several fixer uppers, Investors frequently call me to ask if there is something available for them to invest in. This property had several cash offers, it was sold to an investor who assumed responsibility for the city presale inspection and took the property "as is".
Sellers of fixer upper homes are sometimes unaware of the interest that investors may have in their property and unaware of the potential that the property may have. I have spoken to sellers who have been short changed by selling to an investor without giving the property exposure and having the opportunity to choose from several cash offers.
This is a picture of the Norwalk courthouse this morning at the
hearing to confirm the sale of real property. My client is the administrator of the estate and decided to sell a condo that belonged to the now deceased brother. There was one overbidder that showed up, the minimum overbid was set at
$226,250 and the original buyer defended herself and kept the property for $228,500. The judge started at increments of $1000 and then down to increments of $100. The buyer was represented by another local realtor, now we move forward
to closing this transaction and go on to the next!