Special challenges of selling an inherited home

Home Improvement

Why do you think that Toale Brothers Funeral Homes would be recommending Steve Martin Homes Group to their customers across Sarasota County?

Could it be that family members who inherit homes need very specialized assistance in preparing their property for sale?

Working with probate attorneys, multiple family members and complicated title issues is not for the faint of heart.

Families need to know that the unique details involved with emptying and preparing a home for market is not something that most Realtors are properly equipped to handle. Most of the estate sales we’ve encounter have been neglected for several ( if not many ) years. The easy way out for a Real Estate agent is to do nothing to help you improve your profit margin and price it low enough to attract a flipper. If you don’t mind that flipper getting the equity out of your home, then that’s certainly an option. However, if you’d like to get the full value of your inheritance, with very little effort on your part, you should be talking to Steve Martin Homes Group.

This neglected estate was restored and sold in 9 days for top market value. The net profit was $35,000 to $45,000 more than the family could have reasonably hoped for previously. The family remained out of state and all details were handled by Little Black Dress and Steve Martin Homes Group. When a family member did visit the restored home, this was their email to the rest of the family..."Visited the house in Venice yesterday. It was fabulous!  Just like a Mike Holmes reno!  New paint, floors, appliances, AC, roof, and staged beautifully by the Realtor. They had guys in Hazmat suits to remove the carpets and furniture and to get rid of rodents etc...  You would never know what a mess it was!"

This home would have had a hard time selling for even $200,000 in the condition we found it.

·      Rat infested

·      Highly damaged roof

·      Broken air conditioner

·      Disgusting carpet through out

·      Old and broken appliances

·      Just plain filthy

·      Torn screens

·      Rusty door hardware

·      Wall paper

·      Original kitchen and baths

·      Etc…

Most of the potential buyers for a worn out home only want to flip it. The investors I speak with locally look to make 20% to 30% profit for their overall investment.

Renovated - this home could sell for $255,000 to $265,000 in its current market. It took about $40,000 to renovate it without updating the kitchen and baths. That means that an investor would have most likely been willing to pay $150,000 to $175,000, depending on how much of the work they could do themselves.

It took 6 weeks and $40,000 to get this property ready to sell. At the end of the day, we were able to get this home under contract for $265,000 in only 9 days on the market. Do we earn our money? Yes we do! Do our customers appreciate getting more profit at the end of the sale? You can bet they do!

On behalf of Steve Martin Homes Group,

-Steve

Steve Martin Smith is a top Sarasota County area Real Estate Agent licensed in the state of Florida since January of 2015. With an impressive launch, he attained the number two ranking in his first brokerage of 20 agents by the end of 2016. That caused other brokerages to aggressively attempt to recruit him and eventually he accepted an offer with Coldwell Banker Residential Real Estate in March of 2017. Since that time Steve Martin has reached many personal heights. Selling $1,000,000+ estates from Panther Ridge in Manatee County to condos in Punta Gorda, Steve has managed to become one of the top selling agents of single family homes in our local Sarasota County market.  The growth and success that Steve Martin Homes Group has attained in 2019 paved the way to accept an offer with RE/MAX Platinum Realty. This move to better serve their customers, with offices across Sarasota County, Manatee County and the largest global presence of any real estate brand, is certain to build on a history of pleasing buyers and sellers who choose to trust Steve Martin Homes Group with all of their residential real estate needs.