Summary

In this episode of Tennessee Real Estate Insider, host Allyson Spencer and probate expert Derek Malcolm discuss the intricacies of selling a home during the probate process. They cover the basics of probate, the different types of probate processes, timelines involved, and the importance of understanding wills and heirs. The conversation also touches on proactive planning for property transfers before death and the potential tax implications of such decisions.

Takeaways

Probate is the process of administering someone's estate after death.
Tennessee has a relatively straightforward probate process compared to other states.
The type of probate needed can vary based on whether there is a will.
A full probate can be avoided in many real estate cases.
There are specific timelines to consider when selling property after death.
Creditors have a year to file claims against the estate.
Court approval may be necessary for certain property sales.
All heirs must sign documents for property listings under probate.
Transferring property before death can have tax implications.
Consulting with legal and financial professionals is crucial for estate planning.

Resources:

Contact: https://www.greaterimpactrealty.com/agents/1226455/Allyson+Spencer

Podcast: Tennessee Real Estate Insider

Embark on your home buying journey with the valuable insights provided in this episode. Be sure to listen to the full episode of Tennessee Real Estate Insider for expert advice and practical tips. Stay tuned for more engaging discussions and real estate insights from Allyson Spencer.

Summary

In this episode of Tennessee Real Estate Insider, host Allyson Spencer interviews Kathy Oakes, the owner of Greater Impact Realty. They discuss the company's mission to create a community-focused real estate experience, emphasizing the importance of relationships over transactions. Kathy shares the history of Greater Impact, its charity initiatives, innovative business model, and the support provided to agents through education and the Broker League. The conversation highlights the company's commitment to making a positive impact in the community while ensuring agents have the resources they need to succeed.

Takeaways

Kathy Oakes emphasizes the importance of creating a people-focused real estate company.
Greater Impact Realty aims to provide a quality experience akin to Chick-fil-A.
The company launched during COVID, driven by a desire for community impact.
5% of profits are donated to local charities chosen by agents.
Community impact includes support for addiction recovery and families in need.
The annual impact party brings together agents, buyers, and sellers to celebrate contributions.
Greater Impact offers cutting-edge marketing and technology support for agents.
Education and training are key to maintaining high standards among agents.
The Broker League allows for collaborative support among agents and brokers.
Kathy believes in the power of community and making connections.

Summary

In this episode, Allyson Spencer and Derek Malcolm discuss the various scams prevalent in the real estate industry, focusing on wire fraud, seller impersonation, and deed fraud. They explore how these scams operate, the impact on buyers and sellers, and the importance of using secure methods to protect against fraud. The conversation emphasizes the need for vigilance and due diligence in real estate transactions, as well as the role of technology in safeguarding against scams.

Takeaways

Wire fraud is a $400 million a month problem.
Buyers often fall victim due to urgency and lack of verification.
Seller impersonation fraud is common with vacant land.
Quick claim deeds can be easily forged.
Using encrypted systems for communication is crucial.
Not all closing firms prioritize security measures.
Buyers should verify wiring instructions with their agents.
Urgency in emails is a red flag for scams.
Notaries must be reputable and approved by underwriters.
Due diligence is essential to avoid scams.