Being named a successor trustee as a Professional Fiduciary is a seriously responsible job. What made me think of this is I work with Professional Fiduciaries. They represent people who need representation as they don’t have a family member or a friend they trust enough to take the job. Often, they have no family.
A Professional Fiduciary gets paid, of course. They go to doctors’ appointments, hospital stays, pick up prescriptions. They even purchase memory foam mattresses to keep their clients more comfortable. It is not inexpensive to have professional care, but it is a lot less than going into a care facility. Professional Fiduciary cases often prolong independent living in most cases.
I became a Successor Trustee for a few friends. Some years ago, I sold a home in the active adult community of Del Webb in Elk Grove to a couple I met from Las Vegas. Rosanna and Rich later became my dear friends. Sadly, Rich died of a debilitating disease a few years ago. It has been a really a sad time for Rosanna. He was the love of her life. They had met in California and moved to Hawaii, sold real estate together on the Big Island. Later they moved to Maui, bought a business and did very well.
Today we would like to discuss a fixer home selling as is in a probate process. This was a recent sale on a listing where the seller was a “probate administrator with full authority.” I could write a book on selling probate listings but, I will stick to the as is portion of this sale as it is most interesting yet often confusing for buyers. From the photo you can see the exterior condition. There were also interior issues.
The seller left behind quite a bit of personal property in the interior, which we had to deal with. Also, due to dust, molds or other issues, these listings can require Hazmat.
These successor trustee sellers did not know which agent to hire but they knew they wanted an experienced Sacramento Realtor. So, they went to a referral service that refers top producers in exchange for a piece of the action from the agent. This particular company sends seller’s information to a bunch of top producers and they let the agents fight it out to get the business.
As a top listing agent in Sacramento, I charge more than just about any other agent, because I’ve never lowered my commission from 40 years ago. It’s been the same amount. However, I am also confident I am worth the standard commission rate and so are my clients. They know better than to shop for an agent based on commission. We all charge about the same anyway; and they wanted the very best.