My family is preparing to sell a 4-unit commerical/residential property in Bergen County New Jersey (2 residential renters and 2 businesses currently in place). The building is in my grandmother's estate, who recently passed away, and the direct heirs intend to sell the property so they can distribute the equity.
I'm interested in making them an offer internally before it is listed - does anyone have any experience in this sort of matter?
You may want to start with a probate attorney. As long as all that inherited the property are on the same page to sell you the property, it should be as any other Realestate purchase. I’m a Realtor in the Bergen County area so if you should need any assistance or recommendations please feel free to reach out to me.
Contact the relatives and see if they can sell it outside of probate, like if its in a Trust. If its probate, you have to go through the probate process. If it is outside probate make sure you get title insurance!!! Find out who is the Trustee and work with them.
If the property is in a trust you'll have to determine which relative is the successor trustee..