Probate and wholesaling contracts

[Marc Massicotte]

If you are working on wholesaling a property in probate, do you specify a potential closing date on the PSA or leave it open ended as "Upon probate approval"? Or something to that affect. Any tips would be appreciated. 

[Francis Nasser]

Hi Marc, it depends on what stage of the probate the seller is in. We usually set a closing date 6 months out with a clause that allows us to close on or before that. Additionally, our agreement allows us an additional 60 days in case title is not clear on the day of closing.