Sunshine Coast Inheritance

Background

Two brothers were each left/transferred an interest in a property on the Sunshine Coast, Queensland as tenants in common (1/2 each) when their mother passed away. There had been a falling out prior to her death and the brothers were unable to agree on a sale of the property.

Each wanted the property sold but the trust level between the brothers was non-existent and another relative was occupying the property (rent free).

Following several months of correspondence between lawyers, QSAS was approached to act as Statutory Trustee and was appointed in October 2021.

Process

QSAS secured the property, immediately identified and took steps to co-ordinate urgent repairs that would ensure the property was safe to enter. After urgently obtaining an independent valuation, QSAS then approached several, appropriately qualified, local real estate agents and offered the property to their client list. Several cash, unconditional offers were received, all with extremely short settlement terms (7 to 14 days) and well above the price expectations and valuation. An offer was accepted, and releases obtained from both brothers to enter into the contract and settle the transaction.

Result

The property was sold with settlement occurring within two months of the appointment following a campaign for a price that was well above the independent valuation, providing each brother with a significant return, well beyond their expectations. Importantly, given the time of year the efficiency and agility of our process ensured the brothers received that return prior to Christmas.