Common Mistakes to Avoid while Selling Conservatorship Property

Posted by Techyscouts | Posted on 01/12/2025
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    • A conservatorship is a court-ordered arrangement where someone is appointed to take care of details of someone else’s life when the second person is incapacitated. It’s a big responsibility, so if a conservator has to sell a piece of property for the conservatee, it’s essential not to make any mistakes that could adversely affect either the conservatee or that person’s finances. The property could be real estate or some other form of personal property owned by the conservatee.

    Don’t Hide Anything

    If the property to be sold is a house, then disclose everything relevant about the house, such as the roof condition, installation of any new systems and/or appliances, problems with the foundation, etc. Not disclosing those things could land you, the conservatee, or both in legal trouble. Also, you’ll foster good relations with the buyer if you’re honest about the home’s condition. The same applies to a car, boat, or other tangible asset.

    Don’t “Dream Big” on the Price

    Inflating the property’s value will guarantee no one even looks at it, let alone buy it. Let’s say you must sell a home valued at $250,000. If you try to sell it for $400,000, then you’ll get no takers. Worse, you could develop a reputation as someone who’s trying to gouge buyers, which will ensure that you either don’t sell the property or have to sell it at a much-reduced price. Again, the same holds with other tangible assets.

    Be Sure to Fix What Needs Fixing

    Unless you advertise the asset as “as is,” you will need the roof, pave the driveway, replace the wiring, get the bodywork done, plug leaks in the hull, etc. No one wants to buy something that’s a lemon.

    Don’t Cut Corners

    It might seem tempting to “save time” or “save hassle,” but laws and other procedures are there to protect both buyers and sellers. If you try to “skate by,” there could be legal ramifications: fines, loss of conservatorship, or even jail time. Yes, the paperwork can pile up, but doing it correctly and honestly handling the conservatee’s affairs will be better for both of you in the long run.

    No Niche Selling

    You will want to market the item to as many people as possible to find a buyer. The more people to whom you expose the house, car, boat, or whatever, the more chance you have of finding someone interested. Also, if the item you’re selling for the conservatee is in demand, competition will be a healthy way to sell it for a higher price. A probate real estate agent in Los Angeles can advise you.

    Get Legal Advice

    Speaking of that, the process can be daunting, so having the help of a probate real estate agent in Los Angeles along for the ride is a great idea. We help people throughout El Segundo, California, and its environs, so call us today if you need that kind of help with a conservatorship sale.

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