Probate and Executor of estate and Short Sale. OH MY
Hey BP. I have come across a situation that I need some help with. Below are the details and what I know. I would love to get your feed back as to what my next best move is to make this deal go through as fast as possible (I know short sales are not short).
property location: TX
The current owner (only owner) died and the property is currently in probate process. It is currently in pre-foreclosure as the payments have not been paid. I have been communicating with the Executor of the Estate (the sister) and she wants nothing to do with the property and wants to sell it. She has had an appraisal completed and the As-IS value per the appraisal (which she sent me) is 29k due to vandalism and neglect. The remaining loan on the property is 68k ish. She is very willing to work with me and has even said she will let her Probate Lawyer know that he can communicate with me directly regarding the sale of the property. I'm not too educated with how this situation will/should transpire as there is a short sale wrapped up with probate process. Will the probate lawyer be able to help communicate to the lender? Any advice or general explanation of the probate process with this twist would be very helpful.