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Executors, Beneficiaries and Administrators will find many ways to take advantage of the service and expertise available through Bounds Auction Company. Some estates require only appraisals and advice. Others also require the sale of a variety of assets; businesses, real estate and personal property. Sometimes these assets are spread over multiple states. While Real Estate services are our primary focus, there are many other specialty services that we offer that fall under the umbrella of the Estate Specialist. We strive to bring them all together to deliver exactly as much or as little service as you may need.
Please explore this entire site under the headings which are of interest to you.
Executors who are tired of waiting the months and years it can take for vacant estate properties to sell are turning to the auction method of marketing for faster and more effective results. The sale of estate property is anything but normal circumstances. Value of Real Estate or Business Assets can evaporate in the process. The traditional real estate model of “listing” a property is an "inefficient" manner to offer upscale, unique and estate property to the marketplace. When an executor is confronted with the costs involved in managing and maintaining a vacant estate home(s), business or other assets, the traditional “Price & Wait” method becomes even less efficient.
It is painful to see a family home sit vacant, waiting for a buyer to come along and make an offer on the property. It is equally painful to remember how neat and tidy the home and property once was when the grass was cut, flowers were in the gardens, shrubs and hedges weren't overgrown, paint wasn't peeling and the house wasn't cold and musty smelling. Would you offer your residence for sale in a closed up and neglected state? Not only does it cost the estate and its beneficiaries hundreds or perhaps thousands of dollars per month in loss on return of capital locked up in an idle asset, but there is the depreciation of the high maintenance asset to consider. Further, heat, utilities, taxes, insurance and other maintenance costs continue to drain the estate while the “fresh to the market” value is lost.
The options for resolving an estate or living trust are simple.
1. Neglect it.
2. Do it yourself.
3. Oversee that it gets done properly by somebody else and be prepared to charge those extra expenditures to the estate and its beneficiaries.
4. Hire an estate specialist.
What if it takes 6, 12 or 18 months to sell? Will everybody be as interested in maintaining the property then as they are today? As time moves along, are you going to be more motivated to accept any offer and perhaps the first offer that comes along? Is this good fiscal responsibility?
If you are responsible for selling real estate, business assets or high value personalty that is held by an estate or living trust of another, have The Bounds Auction Company prepare a detailed marketing plan. We'll make the sale of your estate or trust home(s) and other assets an easy success, and our auction marketing system will provide you with the confidence and transparency you require to know that you've done the right thing!
I have been an executor in my personal life. I know the responsibilities it carries and as a professional fiduciary, I will personal oversee every detail required to get you to the settlement table as fast as possible. Assistance is a phone call or e-mail away.
Omar P. Bounds III A.A.R.E., C.E.S., G.P.P.A.
215.277.5384