Sales with Court Confirmation Explained

Some sales state that they are subject to “court confirmation,” or you will see a “1st overbid” price stated. What does this mean?

Court confirmation exists so that heirs or debtors cannot be taken advantage of. People selling in these circumstances are presumed by the law to need a little extra protection. They are likely selling the property not because they choose to but because they have to. In all of these cases, there may be many parties receiving the monies and ensuring that there is a double check on any decision making can avoid conflict among the parties as well.

In the case of a bankruptcy, it will depend on the judge whether there will be overbidding or not. Sometimes the judge just wants to double check the deal on the table and the requirements will vary from situation to situation.

In the case of a Trust or Probate sale, a property has to have an offer accepted with a 10% cashiers check. This check is forfeit should the buyer back out for any reason. The check and the offer are held for court confirmation and a hearing is held about 8 weeks after the offer is first accepted. This hearing and the “overbid” price is advertised a specified number of weeks.

The 1st overbid is 5% plus $1000 more than the accepted offer. If people show up to overbid at the hearing, the court sets the bid increment and people literally stand up in court and bid. I won for a buyer last year on the 1st overbid. The accepted offer was a developer who just wanted it if it was a bargain and my client was the tenant occupying the building. It was very dramatic and emotional in this case I can tell you!

For my buyer clients, I generally recommend that unless it is their one and only dream home, or they are an investor who is (like the one above) just hoping for a good deal, that we go to court and overbid and do not seek to be the offer held for confirmation. The problem with being the offer held for confirmation is that you can miss an entire quarter where the market is changing and still end up not getting the house.

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Who are you in business with?

I moved to Keller Williams San Francisco  from a small local brokerage in 2016.  Before I did I was concerned that it was a big corporation that might not share my values.  Instead, I found out that each local office is individually owned in a franchise capacity, so the corporate structure provides education and thought leadership, but not control.  I also found that Keller Williams is a company where culture and values mattered more than just about anything. I liked what I learned and I bought a small stake in the KWSF as well as KW Oakland.  I was surprised to learn that I could not hold it in my corporate entity, but rather was only allowed to own it as myself, Jennifer Rosdail.  I asked why.  The answer I received was that the founder, Gary Keller, wanted there to be accountable individuals in charge of each office; that the anonymity a corporate entity can provide was just a no go.  Therefore, with Keller Williams, Agents and their clients know where the “buck stops,” and who they are spending their money on.  I checked out the other local owners as well as the corporate leaders before I joined and I decided these were people I would be proud to “be in business with.”  Nothing has changed that since I joined.  In addition to local ownership and control, Keller Williams has an impressive belief system – into which every office has input on an annual basis.  There are some corny acronyms for sure, but when I read the WI4C2Ts, I’m inspired every time.
Win-Win:  or no deal
Integrity:  do the right thing
Customers:  always come first
Commitment:  in all things
Communication:  seek first to understand
Creativity:  ideas before results
Teamwork:  together everyone achieves more
Trust:  starts with honesty
Success:  results through people
Footnote:  The small local brokerage I used to be part of has recently been swallowed up by a big corporation that has received $450 million in funding from Softbank (which is in turn funded 45% by the Saudi Sovereign Wealth Fund, which is the investment vehicle for the Saudi Government, of recent journalist killing and arms deal fame… not to mention long term suppression of women and minorities.)  Other brokerages have been swallowed as well.
For more on the Keller Williams belief system, see here:  To find out more about how being with Keller Williams benefits my clients and my business, just ask me.

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Vote: It Matters – Last Chance to Register Tomorrow!

The deadline to register to vote in California is tomorrow, October 22.  If you are not sure if you are registered, here’s a step by step guide to get your vote in:
Stefan and I attended a fundraiser at a home in Berkeley last night for Josh Harder, who is running for Congress in the hotly contested purple District 10.  I have friends and clients who have been canvassing to get out the vote there and I figured making a donation was the least I could do.  The candidate was knowledgeable and passionate about his district.  He grew up there and understands his community and would be an excellent advocate.  The point he made was that the issues being decided right now matter and affect the lives of people every single one of us knows.  These range from DACA to eliminating coverage for pre-existing conditions, to personality driven tariff wars driving down the price of walnuts.  In addition, this is one of 24 key races (9 of which are in California) that can change the balance of power in Congress.  If you want to donate to Josh Harder’s campaign, click here
But more importantly, please vote and encourage everyone you know to do so as well.  Help people figure it out by asking them if they have a plan to get there and sharing these links.
If you are going to have trouble voting on November 6, you can go to City Hall just about any time and vote in advance.  Here’s the info:  
The City Hall Voting Center opens 29 days before Election Day. Hours are as follows:
  • Monday through Friday, 8 a.m. to 5 p.m.
  • Saturday and Sunday, two weekends before Election Day, 10 a.m. to 4 p.m. (enter on Grove Street)
  • Tuesday, Election Day, 7 a.m. to 8 p.m.

The City Hall Voting Center is located on the ground floor of San Francisco City Hall, 1 Dr. Carlton B. Goodlett Place, Room 48.

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Close to Culture & Next to Nature

3335 Clement Street,
San Francisco California

>Offered at $799,000 | Pending Sale

Click here to Request a Showing
Click here to Download Disclosures

  • Two bedrooms/one and 1/4 baths
  • Direct Golden Gate Bridge Views from master bed and office
  • Stunning “Dwell” styled kitchen & bath
  • Kitchen features Thermador appliances
  • Bath features extra deep soaking tub w/shower and separate 1/2 bath
  • Open plan living with direct access to private outdoor deck and lush shared garden
  • Fantastic location near Lands End, Clement Shopping and the Palace of Legion of Honor
  • Top floor with bonus attic – think hobby, storage, office or future expansion
  • Laundry in unit
  • Ample storage in attic as well as basement
  • This is a 25% TIC interest in 3335-3341 Clement
  • Year built: 1907
  • Square footage: 1,116 sq. ft. per graphic artist
  • HOA Dues: $460
  • Leased parking available
  • May be eligible for condo conversion starting April 15th, 2019. However, I have been informed that the city has put applications where there are tenants in a building on hold. 

Getting better and better….

1907 was an exciting year in San Francisco. People were eager to recover from the earthquake and building up a storm. The Outer Richmond was one of the last places in San Francisco to be developed so there was plenty of room. 3335 Clement was errected in this year across the street from what was then a mere 3 hole golf course. The Palace of Legion of Honor was yet to be built – and little did the first occupants know they might eventually look out over one of the most recognizable human built icons ever – the Golden Gate Bridge.

Fast forward to today, and this exquisitely remodeled and cared for home is across from a the spectacular 19 hole Lincoln Park Golf Course, walking distance to the elegant and inspiring Palace of Legion of Honor and a convenient stroll to almost too many restaurants and shops to list. And it looks right at the now extant Golden Gate Bridge. In addition, it is a short hop to the Golden Gate National Recreation Area’s Lands End or Golden Gate Park. And as if this wasn’t enough, it’s about to be a block from a brand new Andronico’s.

The unit was exquisitely remodeled by the current owners to include luxurious finishes, appliances and and a magazine worthy kitchen with direct access to a lovingly cared for outdoor spaces. The unit also features an accessible attic with soaring ceilings and a skylight that will provide space for all the things you hope you will get to – movie night or painting or yoga? The view past the picturesque window boxes is verdant and open as it is from the sunny kitchen and back deck is as well. Spending time here is a relaxing respite – all while right near some of the finest things San Francisco has to offer.

For more info on what’s good and bad about TICs, please read


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Right Where You Want to Be…

546 Sanchez, 102-104 Hancock,
San Francisco California

104 Hancock $599,000
546 Sanchez $699,000
102 Hancock $1,299,000
Whole Building $2,597,000

Click here to Request a Showing
Click here to Download Disclosures

Showing schedule:

Showings By Appointment

Offers, if any, will be reviewed by 11:00 am on Friday, October 26th.

Entire Building – priced at $2,597,000

  • VACANT 3 Unit Building
  • Center of the super cool universe location
  • Gorgeous Italianate Victorian façade& interior details 
  • Sold as a building or TIC interests
  • Year built: 1890
  • Walkscore/BikeScore/RiderScore:  93/77/97
  • Square footage per tax record:  2,252 sq. ft. total 

102 Hancock – Upper View 2 bed/2 bath priced at $1,299,000

  • Huge kitchen; purple heart wood counters & new Bertazzoni Range
  • Newly remodeled marble bath plus en suite master
  • Two romantic wood-burning fireplaces + two terraces
  • Includes Parking, exclusive storage and in-unit laundry
  • 102 Hancock – 1,071 sq. ft. (per graphic artist)

546 Sanchez – Front View 1 bed/1 bath priced at $699,000

  • Newly remodeled oversized bath
  • One decorative/one wood-burning fireplace
  • Exclusive use front view terrace
  • Includes exclusive storage and shared laundry in garage
  • 546 Sanchez – 588 sq. ft. (per graphic artist)
104 Hancock – Lower 1 bed/1 bath priced at $599,000
  • Granite eat-in kitchen
  • Wood-burning fireplace
  • Formal entry and loads of closets
  • Includes exclusive storage and shared laundry in garage
  • 104 Hancock – 532 sq. ft. (per graphic artist)

546 Sanchez/102-104 Hancock is perched in Dolores Heights like one of San Francisco’s famous parrots. It is an outstanding architectural example of an 1890s San Francisco Italianate Victorian but in addition to that, it now finds itself at the center of current coolness: Two blocks up from the top of Dolores Park, two blocks from free rides to work at all the cool places, and a very short distance from the restaurants and nightlife of the Castro and the Mission. It is truly the place to be right now. You can walk up the hill see the sun rise over Mt. Diablo, have dinner at Frances and watch movies in the park – that is if you can get past Le Marais and Lark which are irresistibly close. Your friends might even notice you look just a little cooler because you are shopping at Unionmade on your way to meet them at Starbelly.

In 1890, Eureka Valley was just getting started, and this building was one of the first proud centennials erected in the newly forming district. The care and pride that went into building it, are still evident today and it is ready for new occupants to enjoy.

For more info on what’s good and bad about TICs, please read

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Sold: 202 Miramar Avenue

Sold for $970,111
Buyer Represented

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Sold: 270 Valencia Street #201

Offered at $456,896
Sold for $456,896
Buyer Represented

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Sophistication, Convenience and Luxury Converge …


Pending: 219 Brannan #15A,
San Francisco California

>Offered at $1,098,000

Click here to Request a Showing
Click here to Download Disclosures

Wednesday, December 5th - 12:00-1:30pm
Showings By Appointment
  • One bedroom/one & 1/2 baths
  • Custom extra-wide sliding door reveals the view along entire north side of the unit when open
  • Penthouse style NW corner unit
  • Ample storage and closet space
  • Designer lighting, sound system and remote controlled draperies
  • Panoramic views from the Bay Bridge to Twin Peaks and Bernal Hill
  • Hotel style full service building with Pool, fitness center and elegant outdoor space
  • Quick access to surrounding tech companies, FiDi and freeways
  • Close to AT&T Park, future Warrior’s home
  • Laundry in unit
  • 1 car garage parking + private, secure storage
  • Year built: 2000
  • Square footage: 815 per graphic artist
  • HOA Dues: $1,073.62
  • Walkscore/BikeScore/RiderScore: 84/87/100

In the year 2000, the Brannan was visionary – edgy even. It was in an area with little residential development and offered a lifestyle still unique in San Francisco High-rises. It is a complex of three towers, entered through an elegant semi-circular driveway, that share amenities, but each with their own elegant lobby and front desk staff. With its art nouveaux style glass awnings and excellent concierge style service, 219 Brannan evokes a Parisian boutique hotel. Designed by French designer Christian Liaigre, who among other projects has designed the ultra-trendy Mercer Hotel in NYC, the Brannan boasts a 3,000 square foot fitness center, outdoor entertainment facilities, and a perfectly positioned 75′ foot pool.

Residence 15A is a spectacular & spacious one bedroom, one and 1/2 bath unit. The current owner customized the bedroom wall with an extra wide sliding door to reveal an unbroken view of the city and Bay Bridge along the continuous north facing windows. It occupies the coveted north west corner of 219 Brannan and features penthouse style sliding glass walls that can be opened wide for an indoor-outdoor feel. The unit has been upgraded with designer finishes, low-voltage lighting, built-in sound system, and remote controlled draperies.

In the time since it was built, San Francisco living has come to the Brannan. It is nestled between South Beach Harbor and AT&T Park, and steps from dozens of culinary landmarks (think Saison and 25 Lusk or the SF Ferry Building Farmer’s Market). Walkable to Google, Dropbox, the Financial District and CalTrain and seconds from freeways south, this is the perfect SF location for a primary residence or a pìed a Terre.


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Sold: 1601 Pacific Avenue #204

Offered at $1,348,000
Sold for $1,500,000
Buyer Represented

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What’s wrong with TICs? In a nutshell …

Well, really not all that much. Let me break it down for you …
Your regular lender will not lend on a TIC. You need what is called a “fractional” loan, which is similar to what is used to buy a Co-op in NYC. For this, you need a special lender – there are several. Sterling is my go-to, Bank of Marin, NCB, Bank of SF to name a few. Please ask me for a referral.
TICs are really very similar to condos on a day to day basis. The legal difference is that the condo is an official subdivision creating separate legal title, while a TIC represents a percentage undivided interest in the whole property with a legal contract that says who can use what. More info on exactly what a TIC is here.
The disadvantages of TICs are:
  • need the fractional loan which has an up front charge of 1% and only available 3/5/7 year fixed ARM (30 year term).
  • escrow will be a little longer – fractional loans take time to process
  • there are no downpayment options below 15%
  • fully subject to rent control if you move out and rent it. More info on rent control here.
  • you will want to condo convert if you become eligible. This is a + because the value will go up and a – because you have to go through the process which is pretty extensive and work with the city/lawyers/surveyor, etc.
The advantages of a TIC are:
  • usually between 10 and 25% less expensive for a condo with exactly the same functionality and livability. This is mostly because of perception and may or may not even matter to you. The wide range of difference between 10 and 25% mostly depends on the ease with which you can convert to condo which ranges from very easy to, well, maybe never. More info on Condo conversion here.
  • Potential upside from condo conversion
  • If you start your own TIC (by buying a multi-unit building that has never been one before and dividing it up yourself with your partners/lawyer) you can create significant value and also obtain an un-remodeled place you can use to create even more value. Most people do not choose this option.
The advantages of a condo are:
  • You can use any lender
  • You are exempt from the rental increase provision of rent control – meaning you can raise the rent whenever a lease ends.
  • Condos built before 1978 are still subject to the portion of rent control that protects tenants from eviction – meaning you can’t just ask someone to leave because you want to sell it for example.

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