The home went live on the MLS on April 22. The next day, we hosted the Glendale Caravan, followed by weekend open houses. We set an offer deadline for the following Tuesday. We received 15 offers. The administrator asked that we counter each offer asking for the highest and best price. Because the Harb & Co. Team completed due diligence up front—with a termite report, a pre-inspection, and a preliminary title report—several buyers removed all contingencies. We listed the Glendale probate at $1,650,000 and closed it at $1,933,000. The buyer waived all contingencies.
Because the administrator had full authority from the court, we were able to attract a strong number of offers. In contrast, if he had only been granted limited authority, the process would have required court confirmation. As a result, the buyer would have needed to secure full loan approval and remove all contingencies before the court could even set a hearing date. This would have extended the timeline by four to eight weeks. In addition, it would have increased the risk of another buyer stepping in and outbidding the current buyer in escrow. When court confirmation is required, uncertainty deters many buyers and their real estate agents.
We encountered one unexpected issue during the transaction. The buyer’s lender required a handrail on the interior staircase. This request was unusual because walls fully enclosed the staircase on both sides, leaving it non-open. The appraiser did not require this—only the underwriter imposed the condition.
To keep the Citibank loan moving forward, we needed to install the railing before closing. As the buyer waived all contingencies, this requirement was the buyer’s responsibility. The administrator agreed that the buyer could complete the installation with their Realtor present.
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