E276 Problems Selling Probate Real Estate: Septics, Brokers, and Co-op Listing Prices

<p>We’ll share 3 recent problems we encountered while selling probate real estate: a bad septic tank, firing a broker, and co-op listing prices. We’ll share these stories with you and add key takeaways for executors and those facing probate.</p> <h2>Septic tank problems in probate</h2> <p><img class="aligncenter size-medium wp-image-42496" src= "https://anthonyspark.com/wp-content/uploads/2022/07/Septic-tank-problems-in-probate-300x169.jpg" alt="Septic tank problems in probate" width="300" height= "169" /></p> <p>Any leak or other problem involving a septic tank is a huge headache. Septic water leaking into the ground soil is an environmental violation.</p> <p>In our case, a problem appeared during the septic inspection (thankfully it was not a full-blown leak). It required our whole team (me, the other attorney, and the real estate broker) to work together quickly to save the deal by replacing the tank. As we’ve mentioned several times before, selling probate real estate quickly is key. Otherwise, the estate bleeds money while the property sits on the market (not to mention impatient heirs and looming IRS deadlines).</p> <p>Takeaways:</p> <ol> <li>You need a great team (broker, executor, attorney) who understand probate, the need for speed, and the risks to the executor. These are tough situations that require competent professionals. The team must be able to communicate well and do it quickly.</li> <li>It is best to have a local executor: someone who understands local laws and customs.</li> </ol> <h2>How to fire a real estate agent</h2> <p><img class="aligncenter size-medium wp-image-42497" src= "https://anthonyspark.com/wp-content/uploads/2022/07/How-to-fire-a-real-estate-agent-300x169.jpg" alt="How to fire a real estate agent" width="300" height= "169" /></p> <p>This situation is never easy, but being an executor is not for someone who avoids conflicts. Speed and risk assessment are two things that are important during probate.</p> <p>So, if you have a broker that is taking too long to sell, it will anger the