The Chen family inherited a well-maintained 4-bedroom Ann Arbor colonial in a desirable neighborhood near the University of Michigan. The estate was worth significantly more than typical Michigan probate properties. The executor was weighing options: traditional listing vs. cash sale.
With a high-value property, the executor was initially skeptical of cash buyers — assuming a cash offer would be significantly below market. However, they also didn't want to manage an ongoing listing process while out of state, deal with buyer financing risk, or wait 60+ days for a traditional close.
7 Lakes Properties offered $498,000 — within 3% of the agent's estimated list price range, but without commissions, repairs, or financing contingency. Net to the estate after a traditional sale (6% commission + repairs + carrying costs) would have been approximately $468,000. Our offer netted $498,000.
The executor accepted 7 Lakes Properties's offer immediately after the comparison was made clear. We closed 52 days later once Letters of Authority were issued by the Washtenaw County probate court. The estate received $498,000 net — $30,000 more than the traditional path would have yielded.
"I assumed cash buyers would lowball us. 7 Lakes Properties's offer was better than listing once we ran the real numbers."— Estate Executor, Chen Family
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