Propertyunder contract closing keeps getting delayed do to estate title issues

[Kedric Naylor]

I have a property under contract that was supposed to close twice.  The comps in the area are 250kish.  I have them under contract for 223k.  The property will cashflow around $500 a month after all expenses.  

We were two weeks from closing, and I received a call from our attorney stating that the title came back incorrectly.  Apparently, the person I am under contract with was managing the estate of the actual owner who recently died.  

Their realtor stated that this was a small issue that would be resolved.  Well, the original close date was delayed with no concessions.  We waited 2 more weeks. The seller said that he had a court date that would clear up all the issues and allow him to move forward with closing.  Well, we get here and his agent is telling my agent it will be another month for another court date that will allow him to sell the property. I'm concerned that this will not get resolved and I am just being strung along at this point.

Are these type of issues common?  Should the selling agent have known the issues with the title beforehand?  Should I just walk? What concessions should I ask for?

I've already paid for an appraisal and the earnest money is recoverable.

Thanks BP family! 

[Scott Johnson]

I'm currently going through this with one of my clients. They are trying to purchase a home which was going through probate. It has taken four months.

Unfortunately, when probate is involved, the process can absolutely drag out.