When Bryan and Ivvy inherited their mother’s home in Phoenix, AZ, they faced a complex situation. With limited knowledge of real estate, no funds to begin necessary repairs, and worries about capital gains taxes, they felt overwhelmed.
They needed to net $45,000 from the sale to support their family, and they had no idea where to start. That’s when they found us. We worked together to create a creative solution that addressed their needs, simplified the process, and ultimately helped them achieve their financial goals.
The Seller's Challenge:
Inheritance, Repairs, and No Resources
Bryan and Ivvy had recently inherited the house from their mother, and although it was a meaningful gesture, it also presented several challenges. The home had deferred maintenance and needed updates before it could be sold at full market value.
They had no funds for repairs or even a basic rehab plan, and neither of them had experience with real estate transactions
"We didn’t know how to sell the house or where to even start. Rafael and his team made the process easy and made sure we got what we needed."
Ivvy & Bryan Smith
Motivated Homeseller
On top of that, they were nervous about the paperwork involved—they didn’t know how to put together a legal contract or assignment to make sure they could secure their $45,000 without any issues. With so much at stake and little time to navigate the complexities of an inherited property sale, they reached out to us for help.
A Stunning Transformation
These photos showcase the property after the remodeling work completed by the new investor buyer. They highlight the significant improvements made to bring the home back to its full potential
Our Approach:
A Creative Transaction to Meet Everyone’s Needs
After Bryan and Ivvy reached out to us through our website, we got to work on developing a creative plan to meet their goals. Initially, we offered $85,000 for the property.
However, after discussing their needs and running the financial analysis, we realized that they needed to net $45,000 for their family after the sale—no matter what. We adjusted our offer, ultimately agreeing on a final purchase price of $130,000 to ensure they would meet their financial needs.
To make this work, we assisted them in drafting a contract between their mother and themselves, showing that they would buy the property from her for $85,000. Then, we drafted an assignment contract where Bryan and Ivvy would earn $45,000 by assigning the contract to us, bringing the final purchase price to $130,000.
We also agreed to pay all closing costs on the buyer side and made the contract contingent on our inspection and approval.
Step 1.
Discovery call to understand Bryan and Ivvy's goals
Step 2.
Drafted contracts between family members to establish a clear path forward
Step 3.
Inspected the property and adjusted the purchase offer to meet the sellers’ needs
Step 4.
Executed assignment contract to guarantee Bryan and Ivvy's proceeds
Step 5.
Marketed the property and began searching for qualified buyers
Step 6.
Assigned the contract to a strategic investor buyer partner for final closing
From Family Agreement to Investor Sale
he initial assignment contract between Bryan, Ivvy, and their mother and the subsequent contract with our investor buyer demonstrate the steps we took to secure a successful transaction. These documents reflect a creative and transparent process tailored to the sellers' needs.
The Results That Made the Difference
From the moment we started talking with Bryan and Ivvy, it took just 10 days to get all of the contracts drafted, agreed upon, and executed. Initially, the agreed-upon purchase price from the owner (their mother) was $85,000.
Then, with our assistance, we executed an assignment contract that allowed Bryan and Ivvy to earn $45,000 from the sale, bringing the final purchase price to $130,000.
Within just one day, we secured a commitment from one of our strategic investor buyer partners to purchase the contract for a $10,000 assignment fee.
This investor quickly lined up a remodeling buyer, and the final buyer was able to close within seven days of signing the contract. In total, the entire transaction took only 18 days from beginning to end—well ahead of the original 26-day closing schedule.
Bryan and Ivvy were thrilled. They walked away with the $45,000 they needed, while their mother was able to sell the house as-is, paying off the underlying liens and avoiding the stress of further delays. Everyone involved got what they needed, and the transaction was a win for all parties.
10-Day Turnaround: Contracts in Record Time
All contracts and agreements were finalized in just 10 days, setting the stage for a quick and smooth transaction.
Buyer Secured in 24 Hours: Speed Meets Strategy
A strategic buyer was secured with proof of funds within just one day of marketing the property.
18-Day Close: Exceeding Expectations
The transaction was completed in only 18 days, providing Bryan and Ivvy with a quick and stress-free resolution.
Closing Documents That Speak for Themselves
The proceeds check for $18,000 from the title company is a testament to the seamless execution of this transaction. It underscores our commitment to delivering results efficiently and effectively.
“Rafael’s team helped us achieve a smooth sale in just 8 days!”
We needed to sell our property quickly to fund another purchase, and Rafael’s team made it happen. They structured the transaction creatively to meet our needs, closed in 8 days, and we netted the exact amount we needed. We’re so thankful for their efficiency and professionalism. I would recommend them to anyone looking for a fast, as-is sale.
Top Tips Handling Inherited Properties
Inherited properties can bring about a lot of emotions and challenges, but with the right approach, they can also lead to positive outcomes. Here are some top takeaways from Bryan and Ivvy’s case that could help others in similar situations:
top tips for
realty success
Draft Clear Contracts
When dealing with family and inheritance, clear contracts are essential to avoid misunderstandings and ensure everyone gets what they need.
Work with a Knowledgeable Team
Complex transactions involving assignments and family agreements can be daunting. Having an experienced team helps navigate the paperwork and legalities.
act Quickly but Carefully
Speed is important, but so is accuracy. Moving quickly, while double-checking contracts and details, ensures you stay on track without mistakes.
Lessons Learned: Creativity and Clarity Make All the Difference
![Lessons Learned Icon [v4]](https://rafaelcarrasquillo.com/storage/2024/12/Lessons-Learned-Icon-v4.png "Lessons Learned Icon [v4]"){kind=icon}
This transaction highlighted the importance of creativity and clarity. By structuring a deal that allowed Bryan and Ivvy to buy from their mother and then assign it to us, we ensured they met their financial goals without complications.
The experience emphasized how thinking outside the box and having a clear plan can help resolve even the most complicated family property sales.
The experience also emphasized the need for a knowledgeable support team. Bryan and Ivvy were initially unsure how to proceed, but with our guidance, they were able to complete the sale efficiently and without any legal or practical issues.
Looking to Simplif
Inherited properties can feel overwhelming, but with the right guidance, you can achieve your goals without the stress. If you're facing a similar situation and need help navigating a creative sale, my team and I are here to help. We’ll handle the process from start to finish, so you can focus on what matters most.