[WSBAPT] Probate: Sale of House

[Mark Higgins]

David--I did a privately negotiated sale of a 7 figure property by a PR
once where hostile persons (attorneys for mothers of underage
beneficiaries) were beating drums in the background the whole time.​  The
PSA for the negotiated sale had a clause that the property would be
publicly marketed for 30 days.  If no better offer were received then the
private PSA would  become final.  If a better offer were received then it
wouldn't.  We felt it best to test the market as a protective position
against the almost guaranteed claims that the PR undersold (which would
have been made even if clearly not true).  No better offer was received and
the private sale went through.  There were still allegations of
impropriety, but no claim was ever lodged.

Mark

On Mon, May 23, 2016 at 4:50 PM, Heather deVrieze <
heatherd at westseattlelaw.com> wrote:

> David,
>
>
>
> My advice would depend greatly on the dynamics of the particular family,
> and which scenario the client intends to follow. If buying himself, I like
> to have a “distribution agreement” incorporating some TEDRA language. If
> selling to a neighbor, and you are confident that it is fair value because
> a market analysis or appraisal has been obtained, I would be less
> concerned, but would advise the client to stay in careful communication
> with other beneficiaries and let me know if there was a hint of a problem.
>
>
>
> Heather
>
>
>
>
>
> Heather S. de Vrieze
> *Attorney-at-Law*
>
> *[image: cid:image001.jpg at 01D013C2.30F35160]*
>
> 3909 California Avenue SW
>
> Seattle, WA 98116-3705
>
> (206)938-5500
>
> heatherd at westseattlelaw.com
>
> www.westseattlelaw.com
>
>
>
> *Click here to connect with de Vrieze | Carney on Facebook: *  *[image:
> FB Logo]* <https://www.facebook.com/DeVriezeCarney>
>
>
>
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> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *David Faber
> *Sent:* Monday, May 23, 2016 4:24 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] Probate: Sale of House
>
>
>
> Working a probate in which PR wants to either buy real property owned by
> the estate, or wants to sell the real property to a neighbor without using
> a broker (good savings!). This is my first time advising a client on
> selling without a broker in a probate situation and I want to make sure
> that my inclination is correct. Though the house won't be on the open
> market, I know we will want to take care to sell the house for its market
> value. Toward that end, would it be advisable to get a market appraisal or
> comp analysis to determine a reasonable price, then sell the house at that
> price? Should I put together a TEDRA agreement between all of the heirs
> agreeing to the sale price before it is sold or would a market appraisal or
> comp analysis be sufficient to your mind? Any other best-practice advice
> this situation warrants?
>
>
>
> Much appreciated.
>
>
>
> Best,
>
> David J. Faber
>
> Faber Feinson PLLC
>
> 210 Polk Street, Suite 1
>
> Port Townsend, WA 98368
> (360) 379-4110
>
>
>
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-- 
Mark T. Higgins
Mark T. Higgins, P.C.
P.O. Box 57
Darrington, WA 98241
206-491-2420
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