OfflineI just finished Dean's "Profit From Real Estate Right Now" book and I am anxious to get started. The house my wife and I live in belongs to her mother and she has been here all her life. Last year the gentleman next door died and left the house to his sister and brother. I did a little snooping and found out that the house was tied up in court until sometime in November. TODAY the brother catches me coming home and tells me that the house will be out of the court system by September 5th. He also told me that the judge is saying that the house MUST be sold for what it appraises for (he has never heard of that). Also, the man on the opposite side of the house is interested in it also. I told him that I was interested in the house and could possibly close on it in a couple of weeks. It's a two bedroom one bath house that's about 900-1000sq ft., all brick and a carport. The inside looks good and has been repainted. I need to know what steps do I take to get the ball rolling? I think this is a blessing that has just dropped into my lap and I don't want to lose it. I would like to do a re-assign to the guy on the other side.
SOMEBODY...ANYBODY...PLEASE HELP!!!
Leo
"Your ability to succeed is only limited by your ability to conceive that success in your mind. Believe and it shall be."
Money flows EASILY to me!
I am a money MAGNET!
I CREATE money!
I have enough money for ALL of my wants and needs!
I too just finished the book and have come across a couple of properties. I would go down to the court house and make sure that it is coming out of the court system the time that you say it is. Determine what the FMV is on the property and get in quick contact with the old owners brother and sister. Get in contact with them and find out about assigning the house with them and assign it to the other next door neighbor.
Larry
Thanks Larry,
I really appreciate it. I will get on that ASAP!
"Your ability to succeed is only limited by your ability to conceive that success in your mind. Believe and it shall be."
Money flows EASILY to me!
I am a money MAGNET!
I CREATE money!
I have enough money for ALL of my wants and needs!
I'm not positive but think i'm pretty sure that you DO NOT have to wait for the house to come out of the court system. I am not up to date with Probates but I have read a few articles and am pretty sure I remember reading that.
So hopefully someone that knows a little more about this can chime in to help you out. But if im correct about this you could go ahead and get the ball rolling on it now and find a buyer for it before it is out of the courts.
Goodluck,
Shaun
Thanks Shaun for the tidbit. I called a friend of mine today who is a corporate law attorney. He's going to put together a list of Real Estate Attorneys that he knows that I can contact and get some advice from. He is also going to see about that probate thing.
I am going to contact the owners this week(who live in another state) and make an offer. Wish me luck.
Leo
"Your ability to succeed is only limited by your ability to conceive that success in your mind. Believe and it shall be."
Money flows EASILY to me!
I am a money MAGNET!
I CREATE money!
I have enough money for ALL of my wants and needs!