Updated almost 10 years ago on . Most recent reply
First deal has four possible owners
Okay, so next week I'm expecting to lock up my first deal. It's probate, the one who called me said he inherited it from his father. However, he said he'll have to gather his other siblings as well. If all four own it, how will I go about getting it under contract? Four contracts? I'm in Arizona by the way. Thank you in advance for your help, I really appreciate it.
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Spencer, not sure about Arizona law, but I'll let you know how it works here in MS and I would think it would be there same there as well. I recently purchased a property that was part of an estate where 4 siblings owned it. I communicated with the executor but had to have all 4 signatures. One contract with all owners is sufficient and I think the only way to do it. You can't have multiple contracts on the same property therefore, write one contract between you and the four owners and have all four sign agreeing to the terms of the contract. And if they are not all local you need to require them to have their signatures notarized so that you know for sure they are the ones that signed it...
Hope this helps!
Clint