Judicial Sale Deal or No Deal

3 Replies

Hello everyone I just sent out some mailers for properties on the Judicial Sale List this December. Got a call on Saturday for a house.

Quick background, the house is in an estate and there is no paperwork showing that the women who called me is the heir, father and uncle were the owners.

She stated that to avoid judicial sale there is 8k, in unpaid taxes, and also 4-5k in liens.
So we're at approx. 13K and probably another 500 for the probate and let's not forget maybe another 1500 to push back the sale. Total in is at 15K, the good news I can assign this for 20k.

Now I don't know if these numbers are accurate because I have to have the title pulled tomorrow.

My questions is it worth pursuing or waiting for the sale and picking it up for 8K, problem is there are going to be other buyers at the sale. Let me know what you think. Thanks roc

I'm not clear however what I THINK you are asking us is if it makes sense to open probate?

Are you trying to buy the asset or the estate equity at a discount?

If no probate, someone has to be appointed by court to become the person in charge: executor if a will, or administrator if no will or original person cannot serve.  Who would you suggest be appointed? 

A lot if moving parts fir a $5K wholesale fee.

Ask better questions and to better answers : )

I agree with Rick. "A lotta moving..."

I would add, I think there are much better deals out there.

Sorry for the confusing questions, the daughter the person who called me will be appointed. 

I'm getting a title report today, so I'll keep everyone posted. Thanks Rocco

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here