Potentially a probate opportunity?

[Kerri Junio]

Hello! 

Well, where do I start? I'm totally new to this whole investing thing and would love some feedback!

My husband has only been a real estate broker for a little over a year now. He has a client who wants to sell her mother's property but apparently her recently deceased mother still owes about $270k on the loan. So the daughter wants to try and sell the house for $300k plus but it's been on the market for about 5 months now. I believe she's willing to go into foreclosure if it does not sell but my question is, would this be an investment opportunity for us? The house is in decent condition, maybe needs a few minor upgrades and rough cleaning but other than that, it's in a decent location and a solid house! Would we be able to get this house for a discounted price and maybe we can try and resell it? 

Thanks!

[Kerri Junio]

@Christopher Phillips Thank you for your response. I checked the market analysis and most of the homes are selling under her loan amount. So it's a pretty much upside down type of deal. I think a short sale for them is the way to go.