4 Basic Ways to Transfer Real Estate out of the Estate...
If you decide you do want to sell quickly, As-Is, for all cash, please contact us and we can provide you with one or more real cash offers within 24 hours from honest buyers who can close quick.
The most common type of sale is the current fair market value sale, with basic repairs needed to pass appraisal inspection. Repairs can often be done in advance & paid for at time of closing.
Some sellers have financial resources to fully remodel the property and sell for the highest amount possible. We have resources available who can provide estimates for any type of renovation.
(to Family Member or Heir)
If the transfer is not done properly, the estate and the personal representative might continue to have liability for any errors in the transfer. Please contact us for more information.
More Real Estate Information...
Verify Who is Currently on Title to the Property
We will provide you with a FREE copy of the Deed showing who is currently on the title to the property and how title is held.
Verify Recorded Liens and Encumbrances
We will provide you with a FREE Ownership and Encumbrance Report at no cost to you, from a Colorado title insurance company that will show documents of record for the property, including any mortgages, liens, encumbrances or judgements, etc. This information can be used when completing the required Colorado Form 941 - Schedule 8 - Liens and Encumbrances section.
Confirm Current Market Value for Court Forms
We will provide you with a FREE Current Market Analysis property valuation which can be used when completing the required Decedent's Estate Inventory Form JDF 941SC - Schedule 1 - Real Estate section.
Reverse Mortgage Information
Generally, reverse mortgages have to be repaid within six (6) to twelve (12) months after the homeowner moves out of the residence or passes away, unless a qualified co-borrower or spouse remains in the home.
Under certain circumstances you can apply for up to two (2) consecutive three (3) month extensions beyond the original six (6) to twelve (12) month deadline.
During this time period, the homeowner, or the estate of the homeowner can sell the property to pay off the reverse mortgage balance and the estate keeps the equity, which is the difference between the sale price, less seller closing costs and the payoff balance of the reverse mortgage and all liens.
The homeowner or the estate of the homeowner also has the right to pay off the reverse mortgage during this time period. If the reverse mortgage is not repaid during this time period, the mortgage holder will begin foreclosure proceedings to take title to the property.
Generally, the maximum loan pay-off obligation is the current principal balance with interest or 95% of the appraised value of the property, whichever is less.
Beware of predatory investors & scam artists that may be attempting to use shady methods to steal equity from properties in the estate. If approached by an all cash investor, or some other type of buyer proposing a lease option, or owner carryback offer, etc. please call Jim Foster first, before signing any documents and get his professional opinion as to whether or not it is a legitimate & ethical offer. It is always advised to consult tax & legal counsel before signing any real estate documents.
We have resources who will provide roll-off dumpsters, pods or shipping containers at the property to assist with removing all personal property from the home.
Trash Hauling and Clean-Out
We have resources who will not only haul away all trash and debris, but who can also provide property clean-out services. They can even assist with hoarder situations if needed.
House Cleaning Services
We have resources who provide professional house cleaning services and professional carpet cleaning services. Ask about our FREE house cleaning coupon.
Hazardous Materials Clean-up
We have resources who provide hazardous materials clean-up, crime scene clean-up, unattended death clean-up and removal of toxic materials. They specialize in working with insurance companies if possible.
It is strongly suggested that you change the locks on the decedent's property to avoid entry by unauthorized persons during the estate administration period. We have resources who provide locksmith services, including opening safes and re-keying or replacement of locks.
Vacant Property Insurance
Quite often, home owner insurance policies contain clausese that limit or exclude coverage for damage or losses that occur if the home has been vacant for more than a certain amount of time specified in the fine print of the policy. We have licensed insurance agent resources who can provide you with free quotes for adequate vacant property insurance.
We assist you in verifying with the County Treasurer if real property taxes for the decedent's real estate are current or past due. If not paid after a certain period time, delinquent property taxes can lead to foreclsoure of the property.
We have resources who provide everyrthing from lawn mowing, watering and snow removal to complete landscape design and installation.
Property Maintenance and Repairs
We have resources who provide any type of property maintenance and repairs and will provide free estimates for any work projects needed at the property.
We have resources who provide property management services on a short-term or long-term basis. They can assist you with current or future tenants, record keeping, etc. associated with the decedent's real estate property.
Local Point of Contact
Our team often serves as a Local Point of Contact for out of town/state/country personal representatives, who need someone who can go meet contractors, etc. at the property on their behalf. We can also provide a secure lock box for you to allow access to the property by approved persons.