All Forum Posts by: Roc P.

Rick, given what I know it sounds like a short sale is a lot of work with a small return? Thanks Roc

Hello everyone, just got some more info on the property after some more research. 

First thing first, according to the person I spoke to at the county, a sister in law is not a blood relative, and a niece and nephew are the people to go with for the probate, unless all the other family members waive there "claim". 

Second thing I found out, through a prelim title search, is that the property taxes are paid up YES! The other thing I found out is that the owner took out a mortgage or line of credit for $134,440 and has a lien from a nursing home for $14,909. Total amount $149,349. D'UH

The house is worth approx. $85,000 rehabbed, tops. 

So I guess my next question is it feasible to get a short sale done on house with a deceased owner, with the current probate situation. 

My next question is before I even think about short sale, even if it can be done, I have to get the probate figured because the bank and nursing home won't speak to me unless I'm authorized from a family member. 

Any advice from anyone who has been through please let me know if this is workable and worthwhile. Thanks Roc

The deceased owner has no children and no siblings are left. Preliminary the sister in law is my contact person, there are nieces and nephews apprently, but I'm again I'm starting with the sis in law. 

Well I have a update, through the miracle of Google (head slap) I was able to find the obituary. Through the obituary, there was a sister in law listed as family. 

Well I did some digging on whitepages, and bingo I was able to find the sister in law, and cold called her (a first lol)

Sister in law, really wanted nothing to do with the house and stated that the sister in law had a gambling problem and that the house was worth nothing because of the money owned to the casinos. (I did some research, prior to the call and could not locate any liens). 

I explained to the sister in law that I could potential make this beneficial for both us and that she does not have to do anything (and/or spend) besides signing some paperwork.

I then flat out asked her if your interested, I'll do a legit title search to get to the bottom of things and to see where were at, if not this is the last call she will receive from me. Well she agreed to me looking into things.

Tomorrow I'm having my title company, do a prelim title search to see where everything is at. If it looks good I'm going to lock up a contract, and start the probate process. 

I'll keep everyone posted, thanks for the tips. Roc

Thanks everyone, I did the search on Google no luck. Next step is to the court house, and check out everything everyone has mentioned. Thanks roc

@ mark Pedroza, if I were in Cali I would buy you a beer. That totally slipped my mind. Thanks so much everyone. Roc

Thanks, everyone I'll keep this thread alive to keep me on course. My next course of action is to see the tax situation on the house tomorrow. Thanks 

Hello everyone I need someone expert advice from the seasoned wholesalers. House was brought to my attention by word of mouth to me. 

Long story short, the owner has passed away, and there are no relatives (found out from a s skip trace. 

Checked the county resources and could not locate a will. The only other thing I can think of is checking to see if the property taxes are being paid, that could be a potential lead. Also through the county resources, the deceased is still listed as the owner, and by the history and age it is safe to assume that the house is free and clear. 

So my question is what would you do to get this under contract? Thanks 

Hello everyone, I've been researching the site about the lease options and sub2 deals, and I'm little confused since this is not my forte. 

I have a prospective lead, a house with no equity, I want to tie it up and then resell for a profit within 2 years. 

Any suggestions on how to do this legally in PA. I was thinking lease option or taking over the payments and trying to resell the property. 

Let me know what you think, I know I'm short on details, but I'm working on getting everything from the seller as we speak.

I'm just trying to feel out if this something worth while or should I pass. Thanks Roc

Quick question, I'm going to have to purchase insurance on the home, also what if the lease directly states that the mortgage is non-assumable. Any thoughts thanks Roc