Sat, Jul 04, 2009
|
Author |
Probate leads? |
woodchuk
74 Posts
Member Since: 12/03/2002
Addison, TX
 Join woodchuk's Network
What's My Favorites Network? |
Posted: 21:00 on 01-30-2003
Quick question. By looking in the paper at the "notice to debitors/creditors", at what point am I entering the picture? If I call the executor, will they know if I can legally purchase the prop? Say for instance, if the executor is the deceased's child/sibling/etc, if they want to dump the prop are they allowed to?
Anything else I need to know? Like making sure I'm aware of liens on the prop?
Thanks so much for anyone that can provide any advice.
_________________
Success and $$$ to us all!!
Sonia (Woodchuk)
[ Edited by woodchuk on Date 01/30/2003 ]
Profile of woodchuk
 Edit/Delete Post
 Quote this Post
 woodchuk's Group
 Report this post
|
JohnLocke
4180 Posts
Member Since: 06/17/2002
Belmont, NC
Join JohnLocke's Network
What's My Favorites Network? |
Posted: 21:18 on 01-30-2003
woodchuk,
Some of these properties can be tied up in Probate for years, are you prepared to wait that long to get a proprerty?
Are you ready to pay cash or finance these properties if you do get them. What is your exit strategy if you are able to get them?
Just some thoughts I have about purchasing properties in Probate.
John $Cash$ Locke
Profile of JohnLocke
 JohnLocke's Products
Edit/Delete Post
Quote this Post
Report this post
|
woodchuk
74 Posts
Member Since: 12/03/2002
Addison, TX
Join woodchuk's Network
What's My Favorites Network? |
Posted: 22:37 on 01-30-2003
My initial thought was that if it's a situation where the heirs have no interest in the prop, or better yet, can't afford to maintain the prop...they may be willing to let it go for a cash offer well below the real value. Just a thought. People can be so hungry for cash $$.
What I don't know is how to quickly determine if the prop is in probate or rather, how soon could I pick it up? If there are debts to be paid by the estate, wouldn't they want to get rid of any assets for cash to settle the estate?
As far as the exit plan goes...either hold as rental/lease purchase or flip for profit. I've been thinking about it off and on it seems like it has the potential to be an untapped market in the right county/area.
Really just curious if anyone has had any success at it.
Thanks for the quick response and the questions to contemplate.
_________________
Success and $$$ to us all !!
Woodchuk
Profile of woodchuk
Edit/Delete Post
Quote this Post
woodchuk's Group
Report this post
|
|
|
|
| |
|
