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Updated almost 8 years ago,
Wholesaling Probate Confusion
Hi Everybody, I'm new at the wholesaling process and I'm taking action step by step. I'm in the Las Vegas area and went down to Clerks Office, pulled a few probate leads, and sent out a handful of letters over the weekend. Just want to make sure I understand the process if anyone calls.
1. Being named "Executor/Executrix" - Starts with Petition, then Hearing, then Order.
2. Once Order from the court is complete that person has legal right to sell the property, BUT FIRST must list "Notice of Sale" in the paper (or some publication which they talk with their lawyer about doing) AND a "Notice to Creditors" (which can be filed at the same time).
3. I can put the house under contract.
But the more I look into it, the more I find things that might kill the deal like this:
http://homeguides.sfgate.com/sell-real-estate-duri...
Where it looks like they have to advertise my offer and the court has to approve it or start an auction war.
Or this one: http://www.upnest.com/1/post/how-to-sell-a-house-d...
Where it says it MUST sell for 90% of the appraised value.
Am I wasting my time?
Better question: Is there anyone in the Las Vegas market that is successfully doing these? I'm real good at fetching coffee.