I found a home with an appraised value of $162,000. The owner has a reverse mortgage on it with a balance of $62,110

We came to an $80,000 cash agreement for the house. I would settle the reverse mortgage and give him remaining balance then let him live rent free for 6 months.

He signed purchase agreement. Title company started on their process. Then, he died 3 weeks into the process.

What happens next? Is my agreement valid? He has one heir.

This would have been my first deal. I’m learning.