Lack of cash funds

Lack of cash funds

We were presented with a deceased estate residential property that had been untouched for 11 months with multiple beneficiaries. The property was in a very neglected condition with beneficiaries unable to reach consensus on key decisions to prepare and sell the property. This was compounded by a lack of cash funds available to carry out any works to the property. The neglected condition detracted from sale presentation.

The Legal advisors for the estate engaged Moresol as an independent property specialist to provide an assessment and recommendation report for the property. Moresol assessed the property and sourced highly competitive contractor’s quotes for the property makeover at minimal cost. Moresol also sourced several local sales agents appraisals who specialised in this particular type of property and submitted a strategy recommendation to move the sale process forward. Following estate approvals, the property was prepared for sale, marketed and sold within 35 days for a price higher than the agent’s initial appraisal values.

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No cash funds

Date

20 July 2016

Tags

Deceased Estate

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