Hello everyone - There is a house that my husband and I are interested in buying and I have some questions about talking to the Trust that now owns it. Here are the details of the property:
**The last owner died in 2018 where the property was then put into the trust.
**The trustees listed it for sale in September 2018. The price started at 1.5 mil and slowly reduced to a price of 1.2 mil before they took it off the market in 2019.
**The property was never sold and now it is sitting vacant and has been vacant since the owner died.
**It’s a lakefront property, sitting on 2ish acres.
**Approx 5k square feet mid-century modern designed by a known architect.
**Has not been updated since it was built in 1965 and there are things that need to be repaired, like the 1st floor does not have flooring, just bare concrete.
I reached out to the trust to express interest in purchasing and they have called me twice in one day (so I guess that they are interested in selling). I need to call back, just would like advice on how to approach them about the place. The trustees are located 6 hours away from the property.
The taxes are being paid and utilities are still running at the place (at least electricity). I can’t imagine that a small trust would want to hold on to a property which is costing them a small fortune.
Anyone have advice for convincing them to sell with creative terms or a reduced price? It’s sad that such a lovely property neglected while costing the trust equity (as it deteriorates) and holding costs.