We are in escrow with two court conservatorships. The court intervenes when an owner is not capable of making their own decisions. Perhaps parents have passed without a living trust and the child is not yet eighteen years of age, or the owner is mentally incapacitated. If you have a living trust, it will dictate, who will handle your affairs. Without a living trust the court oversees the disposition of real estate. In the absence of a living trust, when you pass your home is subject to court oversight and the legal system closely regulates the process. Everything takes longer and there are substantial attorney fees. If you don’t have a living trust – contact me today for an attorney recommendation because this is a very costly mistake for your heirs.
In the midst of everything, the Pasadena board of Realtors changed our multiple listing service (MLS). And yes, chaos ensued. First our new listings were not being auto populated to Realtor.com, Zillow or numerous online listing portals. The way buyers search for property is online; open houses are advertised online and in print…. very few read the print. The MLS conversion was a debacle and I am still trying to get the new system down.
We have been busy, busy, busy. Here’s the Harb and Co real estate wrap up:
1817 Vista Circle, Sierra Madre is a conservatorship and required court confirmation before we can close escrow. After the buyer removed all contingencies, the attorney obtained a court date. At this appearance, new buyers could have the opportunity to purchase the property during this court date. They would have had to overbid the existing buyer by approximately 5%. There were not any new buyers at court to overbid the existing sale. The court confirmed the existing sale and we are only waiting for the paperwork from the court in order to close.
2832 Mayfield, La Crescenta is a simply a standard sale, the sellers are retiring. We had multiple offers and the home sold substantially over asking price. All contingencies are removed; we are coasting to our closing date.
19918 Acre St., Northridge is another conservatorship but not requiring court confirmation. Whether or not court confirmation is required is determined by how it is structured by the attorney. This home is a Palmer and Krisel mid-century.
2724 Willowhaven, La Crescenta is a standard sale, I am representing the buyers on this stunning Webster Wiley atrium style home. We had been looking for a La Crescenta home for about nine months. Home buyers remember: Patience is a virtue.
3411 Markridge in La Crescenta, sold quickly in multiple offers and escrow opened last week.
We have a starter home in both La Crescenta and Tujunga coming on the market soon and I am hoping to get a new listing in Pasadena and one in Altadena.