Off-Market Estate Sale in Maspeth, Queens – Advice Needed

[Amanda Adam]

Hi BP community,

Thanks in advance for your time and insights.

My mother passed away unexpectedly and we’re preparing to sell her home in Maspeth, Queens. It’s a detached single-family home on an R4-zoned lot with 32’ frontage and approx. 3,776 sq ft of total area. The lot is on a hill, so not all of it is fully usable.

While it’s R4 zoning, I understand the 32’ frontage likely limits multifamily development (e.g., tough to build two-family without a variance), so this may appeal more to buy-and-hold investors, rehabbers, or end-users rather than developers.

The property is vacant and in significant disrepair. A nearly identical home on the block (in better shape) sold for $925K in 2022. This year’s tax-assessed value is $1.006M, though I know that’s not the best market indicator.

We’re avoiding a public listing due to concerns about security and potential squatting. We’ve spoken with a local agent and contractor who may have interest, but I want to explore off-market options before committing.

Would appreciate advice on:

• Best ways to find serious off-market buyers (investors, rehabbers, etc.)
• Structuring a clean sale through probate
• Navigating buyer vetting while keeping the property secure

Thanks again for any thoughts — open to DMs if you want to discuss specifics.

[Rene Hosman]

Quote from @Abel Curiel:

Quote from @Amanda Adam:

Hi BP community,

Thanks in advance for your time and insights.

My mother passed away unexpectedly and we’re preparing to sell her home in Maspeth, Queens. It’s a detached single-family home on an R4-zoned lot with 32’ frontage and approx. 3,776 sq ft of total area. The lot is on a hill, so not all of it is fully usable.

While it’s R4 zoning, I understand the 32’ frontage likely limits multifamily development (e.g., tough to build two-family without a variance), so this may appeal more to buy-and-hold investors, rehabbers, or end-users rather than developers.

The property is vacant and in significant disrepair. A nearly identical home on the block (in better shape) sold for $925K in 2022. This year’s tax-assessed value is $1.006M, though I know that’s not the best market indicator.

We’re avoiding a public listing due to concerns about security and potential squatting. We’ve spoken with a local agent and contractor who may have interest, but I want to explore off-market options before committing.

Would appreciate advice on:

• Best ways to find serious off-market buyers (investors, rehabbers, etc.)
• Structuring a clean sale through probate
• Navigating buyer vetting while keeping the property secure

Thanks again for any thoughts — open to DMs if you want to discuss specifics.

Good afternoon Amanda,

So sorry to hear about your mother's sudden passing. 

To avoid publicly listing your property, you can post your property as a FSBO. I understand Zillow may not be the best source for you if you're looking to avoid squatters so instead, you can use BiggerPockets' FSBO listing page. To my knowledge, this is only available to BP members. @Moderators, please confirm.

To find serious off-market buyers, you can try attending local in-person and virtual meetups. Eventbrite, meetup.com and here on BP you can find local RE events. The upside here is you can potential find a direct buyer, the downside is you'll likely need to speak with dozens or hundreds of people to find a qualified and motivated buyer.

Selling a property (on or off-market) is a numbers game. 
1 agent and 1 contractor, unfortunately, may not be enough to get you top value for this property given its current condition BUT it is a great start fo you and the family.

To vet a buyer, collect:
- proof of funds and pre-approval (if financing)
- LLC documents (if applicable) to verify you're dealing with the actual buyer
- photo ID
- buyer's attorney's information 

You'll also want to work with a reputable Real Estate Attorney who can protect your best interests on the contract. For example, they can strike any proposed contract terms from the buyer's attorney that would allow the "buyer" to wholesale your property instead of purchasing it themselves. This will save you a ton of time and insure that your property doesn't end up on a "daisy chain".

My condolences to you and your family. I hope this helps!

Abel

 Thanks for the tag Abel! @Amanda Adam you can also post here on the Classifieds page. 

If you want to do FSBO that is totally up to you, if squatting is your concern have you considered what the price difference you might get from getting a great agent and setting up a security system would be (I use Simplisafe myself)?

I know it may be too much to think about right now while your grieving but if security is your concern it may be worth getting a security system anyways. It might be a couple hundred dollars but it could save you a LOT of headache if you're concerned. 

You can also reach out to local investor friendly agents and tell them you don't want to list publicly but that you would be willing to offer it as a pocket listing - meaning they wouldn't publicly advertise it but if they use their network to find you a buyer you'd pay them a commission for their service. 

Wholesalers in your area could be another option, you have to be careful with that some are good, some are bad just like in any business but they usually have a rolodex of investors they can push the property to without a public listing. 

I'm really sorry for your loss Amanda and I hope you find the help you're looking for with this property!