Home owner wants to sell but sister has life estate
I am wholesaler/ investor in the Cleveland area. I was contacted by a gentleman that wants to sell his house. The problem is his sister lives in it and she has a life estate on the property. During my google search this means she can live in it till she dies.
He says this home is well kept in a nice area of a city called Brooklyn. 3/1.5 finished basement. His parents took out a 50K HELOC about 4 years ago, which is only debt on the property that is 140k on Zillow.
He didnt give me a number but he he just wants to cash out his ownership and let the investor deal with his sister. Is there anything I can do? What questions should I be asking?