We listed 9916 Rancho Caballo Dr. for $1,350,000 on July 14, 2025. The property generated strong interest, resulting in five offers. We opened escrow on July 23 for $1,425,000. As this was a conservatorship, the sale required court confirmation. The transaction proceeded to a court hearing where prospective buyers had the opportunity to outbid the original purchaser.
The minimum overbid was set at $1,496,750. I attended the court hearing on October 3rd, where my role was to verify that any potential overbidder provides the required 10% deposit in the form of a cashier’s check before being allowed to participate in the bidding process. I met the attorney, and we waited for our case to be called. There was an overbidder, resulting in the first escrow being cancelled.
Before we could proceed to closing, we needed the recorded court order, which was not received until November 14th. Once that was received, the lender quickly got the loan documents to escrow, and this Shadow Hills conservatorship finally closed.
Sounds like a nightmare process. Hard for buyers to hang in for the long haul i imagine