Our Estate Program
Our Estate Program
Our estate program is designed so that we handle all the details so you don't have to:
- Communicate with all parties involved in the transaction including attorneys, real estate agents, escrow, title and lenders.
- Order title insuance and review title report as it pertains to estates.
- Provide recorded documents to parties as needed (saves you from having to locate and deliver).
- Deliver paperwork to your attorney for review and modifications.
- Ensure proper estate terminology is included in listing published in the Northwest Multiple Listing Service in order to protect seller.
- Negotiate terms of purchase and sale agreement including:
- Waiver of Form 17 (Seller disclosure statement): This form is not required in estates; however, the buyer can back out if waiver not signed.
- Lead based paint disclosure: Required on all properties built prior to 1978.
- Special Warranty Deed:
- Pre-printed purchase and sale agreement specified the use of a "statutory warrant deed", which we will change to "Special warrant deed" to limit the scope of warranty.
- Use of special "As-is" clause to protect the administrator or executor.
- Review need for possible change in homeowner's insurance policy. Due to an estate, property may not be covered by the existing policy.
- Ensure that buyer's earnest money check is deposited into a trust account.
- Indicate that property is to be sold in its present condition, or if seller prefers to make modifications:
- Provide suggestions for improvements to maximize profit (Some small items can generate a big return).
- Supply our "preferred provider" list of cleaners, landscapers, contractors, etc.
- Collect bids, schedule and provide access for work to be completed.
- Provide recommendations and referrals for removal of personal property (Estate sales, charity, dump hauling).
- As needed, communicate with multiple family members to keep you "out of the middle."
- Maintain a file with all documents for a minimum of three years, in case information or copies are needed at a future date.
- Ensure confidentiality at all times.