How to buy this land deal??

Question

Hi BP,

I recently sent a direct mail campaign to property owners. The response rate has been surprisingly good, 15% conversation rate. I got an interested inquiring of a guy wanting to sell land he owns.

The kicker is…his mom died, and he received the land via will. His name is not on the title. He does not have any documentation from Probate showing a completion transfer

After we spoke, I had title ran on the lot. Back taxes showed $3,817 in fees. When speaking a second time, he said he would want $10k for the lot in addition to the back fees. Lots in this area go for $28k - $32k

How would I go about acquiring this land under my name??

Best,

Brandon Carlson · Answer

@Mark Pedroza Thank you for the response. I am not sure but I will find out.

Account Closed I have a good relationship with the title company, I will ask them. Thank you

@Ujwal Velagapudi Looks like the digging continues for me. Hopefully it works toward the son and my favor. He was happy with the offer I gave him, probably a little more than I should have but it's a win win for both of us if we can complete the deal.

You gentlemen have a happy holiday. Thanks again for the input.

Mark Pedroza · Answer

Is he the authorize seller of the property? If he's the PR (Personal Representative) he should have Letters of Administration.

If not, probate has not started or it's going through the administration process. Until you view Letters the so-called seller is wasting your time @Brandon Carlson

Ujwal Velagapudi · Answer

You'd have to do some more digging around to see who is actually on the title. If they are deceased, then that process needs to come to some sort of resolution where it can go to the son, so that you can properly transfer over to you in a sale.

As far as if he can sell you the right to the title before he even owns it/fully transfers, those are all gray areas I'm not too sure about. Put the onus on the seller and demand for a marketable title with his name. You may have to walk him through the process and coordinate each step within the logistics to light some fire under him, depending on how much he cares for this deal.

Pricing is not the concern here, seems like you've found yourself a good deal! The more headache and issues, usually the greater your discount at the onset of purchase.