Introduction
This study illustrates the approach that Harlem Lofts Inc. applies to estate townhouse listings, using as an example 130 W 119th St, a beautiful Renaissance Revival home.
- In an estate situation, documentation and communication are critical. Here, we worked with the estate during probate until title was transferred, allowing a sale.
Stage 1: Preparation for Sale
- We conducted extensive due diligence and coordinated with the family of the former owner to establish the situation of the estate.
- It was established that the owner died intestate, and so a Letter of Administration would be required to transfer title to the family of the deceased.
- We worked with the family to secure and manage the property during probate.
- Once a probate timeline was confirmed, we listed the property on all platforms.
Stage 2. Launch and Showing
- With the blessing of the estate, we hosted private showings at a rate of 2-4 per week. All guest contact information and comments were entered into our database.
- All Buyers were informed of the probate timeline, ensuring transparency.
- Harlem Lofts received a high offer from a very well-qualified buyer willing to wait for issuance of the Letter of Administration, and the property closed for $2,500,000.
Summary
This study highlights the approach that Harlem Lofts applies to estate sales. Here, it was important to coordinate with the estate to establish a probate timeline for a full value sale.