FRES is uniquely qualified to provide exceptional services to ensure real property transactions are conducted with the highest level of professionalism and compliance. Meticulous attention to each aspect of the transaction is essential. Our dedicated staff stands ready to address communications in timely and efficient manner. Our office is staffed with knowledgeable professionals. Phone calls are answered by our team. As such, questions and issues are often addressed in a single phone call.
The sale of real property is often the single largest transaction a Fiduciary conducts. The transaction is fraught with potential liability from both beneficiaries and the potential buyer. FRES applies its experience, having closed hundreds of transactions, to minimize the risk. FRES utilizes a thoughtful, legalistic approach in an effort to provide the Fiduciary with an exceptional, smooth transaction from listing through closing. Our efforts to protect the Fiduciary through the sales process include:
Eliminating Surprises at Closing. Prior to preparing the Listing Agreement, FRES takes steps to understand if title is clear and to address any physical issues with the property.
MLS Language. The MLS Listing is viewed by thousands of agents and potential buyers. FRES takes steps to verify information prior to its input into MLS and further takes steps to ensure that unverified information is not represented as fact (i.e., square footage, sewer, etc.).
Managing the Physical Condition of the Property. From the initial visit to the property, FRES provides the Client with input as to potential issues which may need to be disclosed and/or require remediation. Ruben Martinez (broker) has extensive construction management experience with Fortune 500 companies. This experience is invaluable to the Client who may not be as well versed in identifying physical issues with the property (structural, water intrusion, cosmetic).
The Documents. FRES invests in education and technology to ensure that the proper forms are utilized and updated. FRES requires the buyers’ agents to submit offers on the appropriate CAR or AIR forms and incorporates language protecting the seller.
Attorney Drafted Language. FRES utilizes attorneys to review and develop language to be included in each Counter-Offer to ensure the Fiduciary is protected by being provided an opportunity to seek court or beneficiary approval of a proposed sale if advisable.
Communications with Fiduciary’s Attorney. FRES understands that administering the estate is a collaborative effort. FRES keeps the fiduciary’s attorney updated with the status of the sales transaction. FRES ensures the transaction is in compliance with the advice of the Fiduciary’s attorney. We always check to see if court approval or a Notice of Proposed Action is required. We follow through to ensure the real estate documents disclosure process is followed and that the escrow period does not conflict with statutory requirements.
Disclosures/Disclaimers. The legal process involved in a Trust Administration, a Probate Estate, a Receivership Estate and a Bankruptcy Estate are each unique. FRES understands which disclosures are (and perhaps just as important) are not required when representing a Fiduciary in each type of estate. FRES regularly incorporates attorney-drafted disclaimers in an effort to ensure only accurate information is being relied on by potential buyers.
Relationships. Through the years, FRES has developed trusted relationships with the Courts, escrow companies, and title companies. We ensure that fees charged by escrow and title are reasonable and do not include frivolous charges. FRES reviews and edits Escrow Instructions to remove boilerplate instructions which contradict the Court’s authority. Indemnification Clauses relieving the escrow company of liability in the event of their error are removed from Escrow Instructions.
Attention to detail is provided at every stage of the sales transaction. FRES provides a transparent process where accurate information is shared. We work closely with the Fiduciary to understand their unique transaction. We work hard to ensure that in the sale of the property, the Fiduciary obtains the highest and best price. We are diligent in ensuring the Fiduciary is protected.
FRES provides transitional property management for Residential, Luxury, Retail, Multifamily, Commercial and Industrial properties while the Fiduciary works through issues such as obtaining court approval or beneficiary consent prior to moving forward with a sale. We work closely with our Clients to address any tenant, maintenance, or cash flow issues at the property. From the onset, FRES focuses on: 1) Rent Stabilization; 2) Risk Evaluation; and 3) Value Increment.
Rent Stabilization. Immediately FRES takes steps to secure and stabilize the property’s income and eliminate vacancies. Often a Fiduciary finds upon their appointment, that rents have been delayed, postponed or ignored by tenants taking advantage of the confusion caused by the transition. FRES immediately notifies tenants of the new ownership/management of the property and take steps to collect all outstanding rents. When necessary FRES, initiates the appropriate notices to cure any tenant default.
Risk Evaluation. FRES conducts an onsite inspection of the property to identify and manage the potential risk the real property portfolio brings to the estate. From simple trip and fall hazards, to code enforcement violations, to illegal units or conversions, we assist the Fiduciary in identifying and addressing these risks. Ruben Martinez (broker) utilizes his construction industry background to evaluate the property conditions, provide recommendations, and assist in securing resources of industry professionals in correcting and addressing issues accordingly.
Value Increment. FRES holds a deeply rooted philosophy to bring value to the estate. Utilizing the broadest spectrum of information, from property rents, vacancies, CAP rates and concessions, FRES scrutinizes current market rents by relying on robust databases and our collective understanding of the market. In the event market conditions suggest rate increases are appropriate, FRES institutes rental increases in an effort to increase the income and the CAP rate. FRES addresses and assists in correcting any outstanding maintenance issues and strives to fill any vacancies. This aggressive approach to property management realizes a greater net income to the estate and, eventually, contributes to a higher sales price of the income property.
FRES provides date-of-death valuations, preliminary values, broker price opinions, Market Activity Summaries, market rent valuations and a variety of additional reports. By subscribing to the nation’s leading industry databases, FRES relies on accurate, comprehensive information. An FRES professional visually inspects the property and merges the data analytics with the specific property conditions to arrive at a valuation. FRES provides comprehensive, thoughtful reports which the Client may rely on with confidence. FRES supports its analysis with the nation's most widely trusted data, relying upon sources that are used by nearly all of the leading financial institutions and businesses.
Ruben Martinez (broker) has served as an expert, providing testimony, in matters involving real estate, including real property valuations and the condition of the property.