Managing a Beneficiary Sale
821 Glenway Drive, Inglewood
24-unit Apartment Building
The Cohen Group’s relationship with these Sellers goes back a long time, when Josh first helped them sell another property. Sixteen years after the initial purchase, the two owners sadly passed away, leaving the property to their two, separate beneficiaries. In conjunction with their passing, the beneficiaries and their advisors reached out to Josh once again to sell the property for them. In sensitive sales like these, communication between all parties is often a very key factor in making sure that a sale goes smoothly, and that all parties feel comfortable that their interests are being represented.
During the sale process, both parties were kept well-informed in terms of how the sale was progressing, where offers were shaking out, and what documentation the various parties would need to start gathering in order to prepare for a smooth escrow. Through the Cohen Group’s extensive marketing process, a total of 9 offers were submitted from vetted and qualified Buyers, with 6 of them all cash! This gave the two Selling parties the luxury of being able to choose the offer that fit their specific needs and timing. Josh was also able to get the eventual Buyer to go fully non-contingent from Day 1!
No transaction as a result of someone’s passing will ever be easy. By maintaining constant communication with all stakeholders, effectively managing the escrow period, and delivering exceptional results, we believe that The Cohen Group was able to make the sale process as smooth as possible for these two parties. Both Sellers wrote glowing letters of recommendation for Josh and his team.