BiggerPockets

I found a vacant property in a very nice neighborhood. It has very high grass and needs lots of work. There is a huge deck in the back were a pool use to be and an addition was started but not finished. So it is open to the elements.

When I was looking at it a neighbor started talking to me. He said the owner was doing an addition but passed away before it was completed. The kitchen is completely stripped.. ....

...I went to the courthouse and there is a mortgage through Bank of New York. It is scheduled for a foreclosure hearing in Nov 2009. What I want to know is:

- Is it too late to try for a short sale?
- Who would sign the contracts and paperwork since they can't find the heirs?

Look forward to the assistance.

Thanks,
Rich

Hi Shawn. I went to the courthouse yesterday and the house is still in the deceased's name. Records show that no heirs were found that's why it is still showing in his name. The records show it is in his name and the Bank will be foreclosing. Any suggestions?

I don't know too much about the probate ways, but Maybe this could work. Check with a probate attorney....
Get a copy of the death certificate. Send it to the bank and get it recorded. Send the court and foreclosing attorney a letter regarding the owner's situation. I think the state has probate attorneys. Whoever is assigned to it can give you permission. Also, the foreclosure attorney has to notify the proper party of the foreclosure so they can defend or cure the action. It will take some cash to get the legal stuff working to stop the chains, or slow them.

What about just checking with the foreclosure attorney what they are needing for a purchase price to buy at the court house steps. I know it's old fashioned..... but might be the easiest, unless the owner dying before the foreclosure won't allow for a clear title.

Good Luck.
~Mitsu