The Sanborn Team had a busy and gratifying day in court today, with two very successful over-bid probate sales.
The first sale was a Glendale property with an accepted offer of $340,000. Three people appeared in court to bid on the property: the original buyer and two additional interested parties. It ultimately sold for $387,000.
The second property was located in Silver Lake. Originally listed for $699,000, the final accepted bid for court was $906,000. The initial over-bid was $951,800. As with the Glendale property, we had the original bidder and two additional interested parties. The bidding was quite lively, and it ultimately sold to the original bidder for $1,130,000! The property has a view of Silver Lake and it was clear that the original bidder really wanted the house. When it was finally sold to her the entire court broke into applause, with hugs and kisses all around. The estate made an additional $225,000 on the transaction.
Successful overbidding in court requires preparation and an understanding of the court rules. There are no do-overs. Here are some additional details on purchasing probate properties.
Working with an experienced specialist in real property sales through probate and trust can make a huge difference. To learn more, call The Sanborn Team at 310-777-2858.
