$100K equity deal...tiny glitch

[Austin Hughes]

I've come across a highly motivated seller, who has a very nice duplex with $100K in equity right now. Needs no repairs, is in a great location, and is a killer deal.

The seller owes back taxes, and those can be paid off. However, the snag comes with her mortgage holder. The person who originally sold it to her owner financed it...which is great. However, this person died in December 2015, and her 3 kids are now handling the estate. 

The motivated seller is 3 months behind on payments, and we could easily catch those up as well, but the children of the estate cannot be reached. They don't seem interested in reconciling this situation right now. The county would foreclose on it in 1 month if nothing happens.

What can I do if I can't get a hold of the estate to pay off the owner financed mortgage note?

[Greg H.]

Has the property been posted for foreclosure on May 3rd ?  If so, you can find the posting with the Lubbock county clerk's office an contact the Trustee(Or Substitute Trustee)  Keep in mind if the answer is yes you are going to have competition as there are many people that track these for a living and will easily recognize the amount of equity

If is has not been posted as of yet, the next date will be the first Tuesday of June.  Has the seller received the Notice of Acceleration ?  If so, the amount of $$$ needed to cure and the place of payment will be contained in that document.  If not, she is not going to get foreclosed on in June either so the earliest will be July

I cannot stress enough that you get this property under contract before it is posted for foreclosure or your seller is going to be bombarded with cash offers with immediate closings.