This is our March 2020 Santa Clara County probate property sales activity report. The data consists of properties sold in probate and homes sold in trusts. There were no conservatorship sales in the month of March.
There is a legal process an executor and administrator must follow to administer an estate. The process includes, among many other things, how to sell a probate property.
This report is comprised of statistical data from March 1, 2020, through March 31, 2020, extracted from MLS Listings “MLS” as of April 1, 2020.
The data includes single-family homes, condominiums, and townhouses and may not include “off-market” sales. On “off-market” sale is when the property is sold without listing on the Multiple Listing Service.
Probate Property Sales in Santa Clara County in March 2020
The breakdown of probate property sales activity is as follows:
- There were 5 homes listed Active
- 4 single-family homes
- 1 condominium
- 5 probate properties
- There were 7 pending sales (under contract)
- 6 single-family homes
- 1 townhouse
- 7 probate properties
- There were 10 homes sold
- 7 single-family homes
- 2 condominiums
- 1 townhouse
- 10 probate property sales
DISCLAIMER: All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Lowest Price Property Sold
The lowest-priced property sold was a condominium located in San Jose in the 95118 zip code. The 50-year-old condo has 2 bedrooms, 1 bathroom, and 903 square feet of living space. It listed for sale on February 2, 2020. The list price was $475,000. The condo was reported pending on February 12, 2020. Escrow closed March 4, 2020. The final sales price reported was $465,000, $10,000 below the list price.
Highest Priced Property Sold
The highest-priced property sold was a single-family home located in the City of Sunnyvale in the 94089 zip code. The home has 3 bedrooms, 2 bathrooms, approximately 1,108 square feet of living space on a 6,051 square-foot lot. The home is 62 years old.
The home listed on February 8, 2020. List price $1,300,000. The MLS reported pending status on February 24, 2020. On March 26, 2020, it was reported sold. The final sales price reported was $1,300,000. The buyer had conventional financing.
Probate Sale Commission
Probate real estate agent commission is offered in the Multiple Listing Service and paid by the seller to the selling broker.
The process for an executor or administrator selling a probate property in Santa Clara County starts with the attorney filing a petition for probate following Santa Clara Superior Court Local Rules. The process is administered by the Santa Clara County Superior Court, Probate Division, Department 13.
At the hearing, the petitioner asks for authority from the court to administer the estate. The authority granted by the court depends upon if the person died with a Will, or Intestate without a Will, and if Full Authority is granted under the Independent Administration of Estates Act or IAEA. If full authority is granted we typically have a probate sale without court confirmation.
Having the full authority to act does not mean that the process is easy or can be accomplished quickly. Read our page How long does probate take in California to learn more about the time frame.
There are reasons the probate judge may not grant full authority. There are also cases that proceed with the California probate sale overbid process.
Successor Trustee Selling a Home
When a successor trustee sells a home held in trust, as a certified trust specialist, it is our best practice to confirm the title to the real property is titled in the trust. We also confirm the representative capacity of the person selling the home. Once we get all of the necessary documents we can execute a listing agreement and open escrow.
There are some seller disclosure exemptions when selling a home in a trust. We go over the process with our clients upfront to ensure they understand what is expected of them as well as all of the details we manage.
We are real estate specialists in probate property sales. That means selling probate properties, trust homes, and property under conservatorship. Over the years we have helped many executors and successor trustees sell homes.
Understanding the challenges people face, we know a higher level of service is needed when representing an estate. That is why we focus on high-touch service versus a high volume of sales.
Experience does make a difference. Kathleen Daniels, Broker, CPRES, has extensive probate Realtor training. The core of her business is probate real estate sales.
The number of clients we work with are limited to ensure we can provide all clients with the highest level of representation. Working with out-of-state and out of area clients requires more time.
We track probate property sales in Santa Clara County probate court because it is important that we keep current keeping our fingers on the pulse of the Santa Clara County Probate market.
When you need help, call Certified Probate Real Estate Agent, Kathleen Daniels at 408-972-1822, or contact us and request a consultation.