investor · McDonough, GA · Member since 2015 · 230 posts · 77 votes
I'm wondering if anyone has ever bought a property that was in probate through creative financing or other creative strategies? Has the executor/personal representative allowed you to do a lease option or offered you owner financing? Do they usually just want cash?
Wholesaler · Warner Robins, GA · Member since 2012 · 34 posts · 14 votes
10y
I've done several probate deals and the common issue is this: Too Many Interested Parties. If you've got one, maybe two, folks involved in the estate, OF/LO can be an attractive option if all heirs are currently solvent and don't really NEED a lump sum of cash. However, that's not the case in my experience. Get three or more people in the estate and you'll figure out quickly that YOU may not want to be tied to these folks longer than necessary :)
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
10y
Yes. Quite a few.
In fact, creative financing is one if the best ways yo acquire interest in and control probate deals.
Seller financing is where I've enjoyed the mist benefits. I've optioned many estate properties, purchased fractional interests and probably the king of buying property "pizza-by-the-slice."
Find an estate in foreclosure with equity and they'll be grateful you helped them salvage equity.