Introducing a New Loan Product
Loans to Upgrade Trust & Estate Real Property Prior to Sale

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. 

Features and Benefits 
  • Cash for minor fixes and repairs to gain the highest sales price
  • Junior position loans so the main mortgage and/or other liens do not need to be paid off
  • No monthly payment so as not to burden the trust or estate fiduciary in the process of selling the home
  • No prepayment penalty
  • Resolving all title issues prior to the sale of the property
  • Two weeks or less to process the loan (unless court order is required)
These loans can be first trust deeds or in junior position (2nd , 3rd , or even 4th position). The terms of the loan can be tailored to the specific estate's needs. For example, if the estate can make payments, a simple amortizing or partially amortizing loan may be the best value. Or, should the trust or estate be unable to make payments a straight note may be the best option. A straight note has no payments; and, all principal and interest payments are due at the maturity date of the promissory note. Loan terms are usually 12 months; interest rates vary depending on location, lien position, loan to value, and the ability to make payments.

Jonathan Brooks
First Probate Loans 

First Probate Loans manages the probate financing process for short-term loans to trusts and estates. The company specializes in resolving challenging and difficult problems related to title reports. The company provides complimentary property profiles, recorded liens and last vesting deeds, upon request.

Contact Jonathan Brooks today to get started. 

direct: (310) 487-6944  office: (818) 788-2308
California Bureau of Real Estate Broker #01881423
Nationwide Mortgage Licensing System and Registry NMLS #307111