Cheltenham, PA · Member since 2015 · 4 posts · 0 votes
I have been researching this but have not been able to find a definitive answer. Considering that I am an investor I would not want to offer 90% of market value for any property, but it appears that this is a requirement for property in probate.
I understand that CA has the IAEA in place that gives the executor liberty to operate autonomously from the court as long as the will does not expressly prohibit him or her from doing so. Does anyone know if this is the case in PA (more specifically Philadelphia, PA)? I really wanted to explore this niche and it appears that many investors do, so I'm just wondering how they are doing it profitably.
Lender · Newport Beach, CA · Member since 2013 · 264 posts · 97 votes
11y
My experience is that they can sell the property to you - get it under contract, start escrow. Then submit your contract for a approval. As long as no one disputes its a viable offer, it'll be approved. Hopefully more people chime in for you.
Cheltenham, PA · Member since 2015 · 4 posts · 0 votes
11y
Hello Robert,
Thank you for your response. I believe that is definitely the case in CA, but I haven't been able to find anything that states it can be done in PA. Thanks again for your input.