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Updated about 6 years ago on .

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2
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Suzan Campbell
0
Votes |
2
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What is needed to sell a property from an estate

Suzan Campbell
Posted

We are purchasing a property from an estate in new jersey.  Seller says the lawyer handling the sale wants credit card payoff letters for the decedent, from the seller before setting a closing date.  We are 45 days past closing and buyer says delays up to 45 more days possible to get these credit card payoff amount letters if needed.  Title search came back clear and mortgage payoff is accounted for by title company.  Anyone have any experience with estate purchases that can confirm/deny the need for credit card payoff amount letters in order to close a sale on an estate property?  My understanding is credit cards can not put a lien on a holders real estate, credit card payoff amounts are not required by title agents like mortgage and taxes.  I saw a similar post on biggerpockets and it seemed to indicate nothing like payoff letters are necessary for credit cards in order to close on a sale.   I never had to provide more than mortgage and tax due amounts to sell a property, but maybe things are different a couple years later or different for estate property purchases.