Real Estate Sales
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Single Family Homes
Single family homes in neighborhoods and gated communities comprise 42% of total volume of residential real estate sales in Palm Beach and Broward Counties. In an increasingly upbeat market, these properties are in great demand. With a strong presentation and competitive pricing, these houses are extremely marketable.
Condominiums, Townhouses, & Villas
The condominium market is a diverse group of apartments, townhouses and country club residences. These properties represent 46% of the market. An understanding of the bylaws, maintenance and financial strength of the condo or homeowners association is critical to a successful transaction.
The luxury end of the market includes: waterfront properties, inland estates and equestrian compounds. These homes are valued in excess of $1,000,000 and equal 12% of the total properties for sale. In conjunction with membership in the Leading Real Estate Companies of the World and our association with Keyes Real Estate, we offer international exposure and marketing of each high end property.
Frequently Asked Questions
The fair market value of a property is the price that a buyer is willing to pay for the property and a seller is willing to accept in the sale. The price is not determined by a forced sale price and neither participant is under any compulsion to buy or sell. Both buyer and seller should have reasonable knowledge of relevant facts. The location of the property is always taken into consideration in determining the value.
The sale of an inherited property is considered the sale of an asset that is part of the estate. This capital asset may be subject to capital gains or loss treatment. If the sale takes place soon after the date of death, there is usually little or no gain to account for. The law determines that the basis of a property acquired from a decedent is the fair market at the date of death.
The division of an estate is a complex issue. If the deceased has specified in the will how the assets are to be divided, then this becomes relatively simple. The property fair market value will be calculated into the value of the gross estate and will be divided accordingly. If there is no will, then the estate will go into probate and the division of the estate assets will be established through the judicial process. A tax accountant or attorney should be consulted for further information.
A certified copy of the will must be submitted to probate in each jurisdiction where property was owned. This probate is called an ancillary probate. If no will existed, each state will have its own law for distributing the deceased’s real property. Probate is usually handled in the home state. Additional Representation may be required to administer the instate property not in the domicile state.
The sale and management of the property in an estate includes many steps. The process is described in the Trust Power Transitions website. The heirs can be as involved in the process as they choose; the Trust Power will assist in all aspects of the estate sale. The details will be discussed with the responsible parties and assistance will be given as requested.