Posted by Rich-CA on January 09, 2008 at 20:52:49:
Can’t handle the truth, something you should have been able to figure out for yourself.
Can’t express himself without using profanity. Obviously well educated.
Only reason you want a bigger spread ON A PROPERTY YOU DID NOT PAY FOR is to maximize your inheritance.
One last thing. Since the AS IS condition has changed and you don’t like the deal, now is when you can exit. Heck, why don’t you skip the rent and go live in the house?
“AS IS” Probate sale - Posted by SGarrett
Posted by SGarrett on January 08, 2008 at 02:37:26:
Greetings.
Short story. My father died in Sept. '06 and his estate has been in probate since. Escrow was supposed to have closed on on Nov. 30 but is being held up by probate. The Northern California storm on Fri. Jan 4 uprooted a tree and the real estate agent says this our responsibility. The buyer knowingly signed an “AS IS” contract and we’ve been pressured into making repairs, that we couldn’t afford, after this fact. I know is says no specific questions but, IS this our responsibility? From what I know, “AS IS” means, as is. Frankly, this pressure robbed my family of even having a Christmas tree so we can even begin to afford this.
lawyers should refuse your case - Posted by steve
Posted by steve on January 23, 2008 at 19:44:06:
People like you are one reason I turn away a number of probate cases each year.
You only want to deal with us lawyers when we can save your A$$.
Re: “AS IS” Probate sale - Posted by Rich-CA
Posted by Rich-CA on January 09, 2008 at 20:44:26:
Its the Estate’s responsibility until escrow closes. The “AS IS” they signed on for has now changed. I assume the property is insured, in which case contact the insurance company - that is what you pay them for - but if not, you may need to lower the price since its current “as is” is not what they signed on to buy.
Stop me if you’ve heard this one before… - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on January 08, 2008 at 18:28:57:
Personalities aside, the basic facts here are that the personal representative (exec/admin) contracted to sell this house “as is” but in the condition that the property was at the time the agreement was signed.
The “as is” aspect is generally regarded concerning undisclosed defects in the property which the P.R. would not normally be aware of, and had no duty to investigate any further, hence represents the property as “what you see is what you get.”
The saavy probate buyer will read between the lines of what “as is” means and may further negotiate the change of price/terms as more facts are revealed, and certainly will complain if the obvious facts change (like the tree incident or fire damage, etc.) which occur during any point prior to closing.
If I sold you a car on Sunday and when you came to pick it up on Monday there was a big dent in it, we’d most certainly have a discussion. This is not an issue unique to probate transactions.
However, what is a probate issue is that someone, an heir or beneficiary, has an expectation of receiving something (for which they most likely never paid for themselves) and may have already spent the anticipated money, or at least in their mind, they have.
One of our sayings in my company is that “heirs know how to add, but not how to subtract.” There’s nothing any different here.
Re: “AS IS” Probate sale - Posted by River City
Posted by River City on January 08, 2008 at 05:18:25:
I have to agree with Jimmy. “As Is” refers to the status of the property at the time the contract was signed.
Not meaning to be facetious, BUT, how did a storm that happened on January 4th prevent your family from having a Christmas tree? This storm was after Christmas.
Of Course Its the Estate’s responsibility - Posted by Jimmy
Posted by Jimmy on January 08, 2008 at 04:59:47:
if there is a material change in the condition of the property before the deal closes, the buyer has the right to walk. “as is” refers to faults and issues and conditions that existed when the contract was signed.
if the house burned down before closing, do you think the buyer should be responsible???
the fact that this is a probate should not be slowing you down, unless there is an objection frm an interested party. If your PR has full powers under the IAEA (a simple box that should have been checked on the petiition to open the probate), the PR sends out Notices of Proposed Action to the interested parties (beneficiaries and certain others), waits a few days, and then transacts the deal.
Re: “AS IS” Probate sale - Posted by Edwin
Posted by Edwin on January 20, 2008 at 21:49:20:
I would try this approach. Remind the buyer that he agreed to buy it “as is.” Absent any deliberate destruction on your part, such as removing an expensive granite countertop of some built-in cabinetry, etc., you should not be held responsible for acts of God out of your control, such as the storm damage. Offer to allow him to cancel the deal if he wants and get his deposit back, but don’t agreed to fix the storm damage. He just might walk or shut up. Might not. But isn’t it worth a shot?
My experience with uninsured probate property - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on January 10, 2008 at 21:22:31:
Astonishing as it is, a full 80% or more of the estates that we work with that are free and clear of mortgages have no insurance whatsoever. This sampling is from over 1600 closed files since 1990 so it’s not a small group (these are all CA properties, too).
Just something to think about.
Re: Stop me if you’ve heard this one before… - Posted by SGarrett
Posted by SGarrett on January 10, 2008 at 21:59:00:
Thank you for talking to me like I’m a person, not a blank box on a message board that you (think you) know every detail about.
I put over $10,000 of my own money into the mortgage to keep the roof over my disabled mother’s head while probate was going on, because she insisted on keeping the house. One thing led to another and due to my father’s controlling and secretive nature we ended up having to sell anyway, within a time-frame. Yes, I wanted to see some kind of monetary return from this sale.
Co-incidentally, the house does have current insurance with a $500 deductible. I can’t afford $200 for tree removal let alone the deductible. Escrow was supposed to have closed on Nov. 30th and thanks to lazy lawyers holding up probate (it’s taken three months to find one piece of paperwork), it hasn’t yet. You know what I’ve already spent that money on? The necessities I had to put off last year. I’m not looking to go out and buy a brand new Benz with the whopping $4000 ($6000 net loss) I’m getting from this sale. I’m just poor, at the beginning of a rebuilding process, and really need the money to climb out of the hole. I’m sorry if that makes me come across as some piece of manure that’s less worthy of respect than “normal” people.
The problem is that the agent and buyer work together a lot and have a “I’ll scratch your back…” relationship. I’m making less on this sale than the real estate agent is and that’s no lie. The buyer will net $40k after renovations. So yeah, I feel very taken advantage of with the nickel and diming. These people can afford to have a heart and I’ve made every single good faith effort asked. This is just one more setback in what’s been a very difficult year. Why didn’t I change agents? Because I’m not the executor of the estate.
Oh, and to that other fool. You watch the life drain out of your father’s eyes and hear him gurgle his last breath and then see how you like it when someone talks a mess of crap they know nothing about. You should look up the meaning of the word “empathy” and learn how to not be such a condescending ass clown. It wasn’t the answer that got to me, it was the way you delivered it like I’m a moron and should’ve paid more attention in the law school I didn’t go to. No matter how much money you make, you’ll always be worthless as a human being.
These emails will now be redirected into my spam folder to be automatically deleted.
Re: “AS IS” Probate sale - Posted by SGarrett
Posted by SGarrett on January 08, 2008 at 07:01:59:
Because we were pressured into making changes that the buyer already knew about. He just wants to make as big a profit as possible and doesn’t care that my family is literally about to be under a bridge. We’ve spent over $10k of our only savings and will on get back a measly $3k…once Probate finally clears. I was barely able to pay my January rent due to this.
It’s nice to think that Probate should’ve opened and closed within a few days. Too bad that’s very, very, very far from the case.
Thank you both for the replies. No further reply is necessary. I feel like enough crap about this without people like you two making me feel like even less of human. I guess as long as the agent, buyer, and probate attorney all make $10k all is well, right?
(Oh, and my IP was just captured because I said a dirty word. Lame-ass site.)
Re: Of Course Its the Estate’s responsibility - Posted by SGarrett
Posted by SGarrett on January 08, 2008 at 07:02:46:
Thanks for making me feel like even less of a human. It really helps in this extremely stressful time!
Re: My experience with uninsured probate property - Posted by Rich-CA
Posted by Rich-CA on January 11, 2008 at 10:38:20:
We’ll have to add the maintenance of insurance to our Executor instructions. I can see this when the heirs don’t know its coming but I would think it could qualify as malpractice for the Executor to fail to insure the major assets.
What a CRYBABY !!! - Posted by Jimmy
Posted by Jimmy on January 08, 2008 at 07:24:41:
if you want straight, honest answers, you came to the right place. and you’re getting them. and guess what—>the truth isn’t always soothing and comfortable.
if you want someone to make you feel better, go see a preacher/priest/rabbi…
we were pressured!! what are you, a 5-year old?
OF COURSE the buyer wants to maximize his value!! and so do you. that’s the nature of capatalism. that’s why it works. its called a negotiation. if you don’t like the deal, don’t do the deal!!
and no, probates do not settle in a few days. where on earth did you get such an idea??? 9 months is about the shortest time I ever saw one close. and I handled many of them in my law practice in CA.
and why is this in probate anyway? because the dead person did not do some very, very, very basic planning which would have avoided it.
If you want to be mad at someone, be mad at the deceased for leaving a probatable situation. and be mad at yourself for having zero maturity and zero business understanding.
Re: What a CRYBABY !!! - Posted by SGarrett
Posted by SGarrett on January 08, 2008 at 07:50:55:
I’d break your nose for talking to me like that face to face…and gladly take the jail time. Hide behind your computer screen, you pu55y a55 b!tch. Fu(k you and all of the greedy b@stards like you.
I Rest My Case - Posted by Jimmy
Posted by Jimmy on January 08, 2008 at 08:23:54:
you come here and ask an adult question. and when adults give you the truth, you can’t handle the truth. you’re like a small child who got his/her feelings hurt, and you need you mommy to make it all better. GROW UP!!
and I’m not hiding behind anything. I’m on this board everyday. I use a fake email address to stop the spam. my info is below.
and what does greed have to do with this? you didn’t get the answer you wanted, and you are sulking and pouting like a 3-year old.
James M. Floyd
T-Bone Properties, LP
1810 Westlake Drive
Austin, TX 78746
cohiba35@aol.com
Re: I Rest My Case - Posted by Blah
Posted by Blah on January 08, 2008 at 08:34:02:
Does your neck ever get tired looking down at people?
You’re living proof that lawyers are the scum of the earth.
lawyers-scum; unless you need us to save your a$$ - Posted by steve
Posted by steve on January 23, 2008 at 19:41:17:
if lawyers are scum, why aren’t you doing the probate yourself???
you have such hate for lawyers unless you need us to save your dumb A$$.
I hope the lawyer doing the probate charges you double for being such an A$$.
did you spent 7 years after high school and pass a State bar exam. We know the answer is “no” from your writing.
People like you are one reason I turn away a number of probate cases every year.
Oops, meant this for the post above yours. - Posted by Rich-CA
Posted by Rich-CA on January 10, 2008 at 10:01:37:
Sorry.