Many fiduciaries, and their attorneys, are hesitant to take on the task of
upgrading, fixing, or
enhancing a decedent's home. However some basic clean up is usually necessary. Also, when a
property is offered for sale in less than ideal condition, the majority of offers will come from real
estate investors looking to spend 50-65% of the real value of the property.
For a small amount of money, $20,000.00 to $50,000.00, the property can be cleaned up,
painted, carpeted, roof fixed, rubbish removed and even the kitchen can be re-done. The
financial gain to the estate can be tremendous, as a property in ideal condition will qualify for
FHA and Conventional Financing, thus attracting a wider audience.
If an estate is selling a property where a few repairs can increase value, First Probate Loans offers a junior position, straight note of less than 12 months to assist the trust or estate so that they can clean up, paint, make minor repairs, and/or otherwise put the real property in a condition to be sold for the highest price.