All Forum Posts by: Dave Metsker

Contact an attorney, to file an objection to the sale.  A court-ordered sale is often the result of inaction, or tardy action, by the executor/PR.  Your attorney may be able to get the court to honor the heir's request to sell it to you directly.  Absent creditor claims in excess of your offering price, you should be successful.

@Michael Finkelshteyn, HOA's often foreclose on condos, when they believe it is in their best interest. Depending on the exact language in the HOA documents, in some rare cases, their lien is senior to the first mortgage. Recent court cases in Nevada have determined that HOA liens are superior to the first mortgage, to the great consternation of the mortgage companies.

The easy way to do this, in order to be able to close out the probate estate, is for her to inherit the property, then deed it to you for $50k, payable $25K down, balance in 60 months, no interest and no monthly payments.  She takes an estate for (5) years, which means she has control/occupancy for 5 years, then the ownership reverts to you, the remainderman, and the final $25K note is due.  She makes a separate fix-up/management agreement with you.  If you need help, to explain this to the attorneys, send me a pm.  If you don't have the cash, this can be done with a 5-year hard money loan.

@Mike Jones you will need to contact a probate attorney in the county where the property is located.  If you need help with the process, send me a pm.

I love these challenges.  Here is what I would offer the daughters:

$10,000 now, in exchange for a Grant Deed, Subject to Acquired Interest, and a Trust Deed, Subject to Acquired Interest, for the reminder of 50 LTV to 60 LTV. The note would indicate that the remaining funds are due within 6 to 12 months of acquired title.

Then, just sit back and wait for mother to die.  Make sure the title company understands what you are doing, and get any additional documents they require. 

@Rick H.

has it right again: RFA, ready, fire, aim.  Get something signed, even if you have amend it later.  In most cases, it will take the seller off the street.

I would buy the HOA lien, and start a foreclosure.

Good advice from @Jim Viens

 and @Rick H. as they covered it well.

As soon as they make a public probate filing, they are in need of help.  Solve their problems, don't remind them of their loss, and don't give up after one contact/mailing.  Sometimes, the heirs are the most anxious to get money from the sale of the property.  That's why I include them in the mailings, and sometimes call them as well as the PR.

Pay attention to @Rick H.

, He is the master of the probate forum.  I send letters to the PR, and to the heirs as well. offering immediate advance payments and to help them sell/clean out the personal property, in addition to an offer to buy, or help them rent the house.