Skip to content
Baltimore Real Estate Forum

User Stats

2
Posts
0
Votes
Marc Lucas
0
Votes |
2
Posts

Stumbled upon Probate Lead in Bmore County

Marc Lucas
Posted May 20 2019, 19:07

New investor and I stumbled upon a probabte lead after cold calling an equity list. The potential seller isn’t looking to sell her house but has another which she received from her father after his death earlier this year and says she cannot afford 2 mortgages.

The woman says 40k is owed on the property, ARV is between 140-180k. There is a tenant in the property who she says is being difficult.

Not 100% clear on this issue and will follow up for more clarity but there is a vehicle which is underwater about 4k that was somehow tied to the estate by the tenant. Im not sure if the car was loaned to her by the dad or if it was the tenants vehicle but the seller doesn’t have money to pay the bills and also thinks something isn’t adding up with this car.

In an attempt to assist the woman I gave her the contact info for the Baltimore Lawyer Referral Service (service available in every state where you pay ~$35 and can speak to an attorney in any field of law for 30 min and receive legal advice) so she can get legal advice and weigh her options and told her I can buy the property and close quickly on it and I mentioned regardless of the vehicle situation we can get her enough money to pay off the car and put money in her pocket easily.

She seems really happy I’m assisting her but I know nothing about tenant laws or probate laws or even how a car can be tied to an estate. I told her I’d call the lawyer service myself and seek some advice as well so we can tackle this problem together. 

My plan would be to BRRRR this property if she sells to me. Any advise is appreciated I want to solve this womans problem and get this property off her and for myself. Any advice is appreciated!