Making offers directly to lenders on a pre-foreclosure/probate property.

[Sean Dougherty]

Dealing with multiple probate properties that are in pre-foreclosure. Special administrator assigned as PR. He does not want to petition court for sale due to my offers being short sale offers. 

Special administrator suggest I contact bank directly with my purchase offers. If bank likes my offer, they can petition the court to sell. At that time commissioner says he would sign off on it. 

He will provide me the loan numbers and 3rd party authorization. 

Has anyone had experience with this scenario?

[Wayne Brooks]

@Sean Dougherty Banks won’t do that. I did a dozen or so short sales…the bank requires a contract, signed by the seller or a legal representative along with a filled hud-1/closing statement showing their net from the sale. The most important part of that is contract signed by the seller. Pursuing short sales from estates is a losing proposition….the heirs/pr’s have nothing to gain.