It sure sounded like a great deal, but I knew that this property’s highest and best use would be to develop it into an ultra high-end beach house and I knew just the man for the job.
I called a developer friend of mine whose niche is in the development of exactly this type of project.
He was ecstatic at the opportunity and immediately jumped in.
As I reflect on how this all progressed, I’m left sitting here scratching my head. Why didn’t the seller just list this with a real estate agent?
There is an important lesson here about the psychology of people who inherit property.
Whether it’s a multi-million dollar house or a vacant piece of land that’s only worth a couple of hundred dollars, what a seller decides to do with the property doesn’t always make sense.
A seller who has inherited a house will treat the disposal of that house very differently from a person who purchased a property with their hard-earned money.
And this is exactly why I absolutely love this business of probate real estate. It always keeps me on my toes (and I get to check out exotic European sports cars once in a while)!
Committed to your success,
Ernie “Beach Front” Vargas | The Probate Fox