Invested in the Process: Court-driven Sales with Urban Hillsides
Bringing out the best potential
To sell for the highest price
To allow more sales to be possible
Many things can go wrong in a real estate transaction. Court-driven (chapter 7, chapter 11, chapter 13, probate, trust) real estate deals are not immune.
The advice we provide on price and how we market each court-driven sale is the same as how we compete for all listings.
A court-driven sale is a distressed sale and it should get the best research, preparation, marketing efforts(as any retail sale) and closing procedures.
Communication and negotiation skills with occupants and attorneys that make the process run far smoother than the majority of transactions.
Contact us about our 14 step approach to successful court-driven real estate sales.
Testimonials:
"We could rely on Darren’s judgment and expertise in dealing with problem debtors and tenants. He is extremely professional across-the-board.”
Eric Israel, Managing Partner, DGDK / Danning, Gill, Diamond & Kollitz, LLP
"Darren Hubert stood out for his willingness to assist on longshot properties, and to work, hands-on, where actions had to be taken onsite with difficult debtors, or to manage utilities problems and the like; while providing high quality professional practical advice including as to valuations"
David Gill, Of Counsel, DGDK
We invite you to get a second opinion on any of your existing or new cases.
Our client, a bankruptcy trustee, had a property that would not sell. Really, it wouldn't sell with 2 agents that were not able to give the property the right marketing and sales push. The property had been on the market for close to a year with no traction. Once the trustee took possession of the property it looked a little long in the tooth in the market. Agents felt they already knew the property. Our challenge was to find something new about the property and make it look fresh again in the market's eyes. We did our usual home prep, changed the flooring, shot with a professional photographer for day/night images, and produced a video that accentuated the phenomenal view and displayed the build opportunity on this 1/2 acre lot. In addition, we created custom signage to make sure that buyers on the street could see these two hidden features - view and lot to build. With phone calls to agents, evening opens, and targeted email and social media marketing we were able to get it sold.
Our client, a bankruptcy attorney based in Florida, had this out-of-state property and needed agents with bankruptcy experience and a sterling reputation for getting local properties sold. Through a referral by another attorney we work with, they found the right partner in Urban Hillsides. The client was rewarded with expert negotiation and communication for all sides; particularly with the debtor who eventually moved. Soon afterwards, UH prepared the property and marketed on a level far above the norm for a distressed sale. Urban Hillsides never loses sight of what's required to maximize the return on a sale.
When we provided the trustee a value on Ferrari Lane it was identified the property was already listed and showed in pending status. We also noticed that the price was well below market value. Once it became clear that the property would be sold we visited the property for an onsite inspection. We determined that roughly $3,000 in work would add about $100,000 to current list price. We agreed to do the repairs and get paid at the close of escrow. We were confident that our assessment was accurate and were willing to invest the money to make it happen. The previous listing had a green pool, unkept yard and a house in terrible condition. We convinced the debtor, who was living in the property throughout the process, to help clean up. We hired the right people to get the work done and marketed the property still as a distressed sale(bankruptcy), but in the best shape possible. The results were multiple offers up front and overbidders in court. The property sold for just over 100K over previous price.
For each sale we assess the situation and provide the best possible approach to get the property sold with the least hassle for the trustee. In the case of San Pascual the debtor lived in on of the units and had family members in other units. The rents would help determine value and it became clear that the leases were falsified. After clearing up this issue the next hurdle was confirming value in a situation where the debtor seemed to be intentionally degrading the building to keep value down and avoid a sale. Unfortunately, the debtor had to be evicted before going to market. At that point we were able to invest a little to clean up the property and we received multiple offers within days of going to market. We consistently provide equal treatment to these distressed sales as we do with any other sale. We know the best price will come fast if the property looks well from the start. We also managed the property and put utilities in our name during the process.