Buying probate property - How to execute?

[Eric T.]

Hello All,

I am trying to understand more about acquiring property in probate. What are the pros and cons of going after probate listed properties? Let say a property already gone thru probate process and listed on MLS to be sold AS-IS.

Here are some questions:

1) Do I need a lawyer? Or broker should be enough?

2) What type of verifications do I need from Seller side?

3) Agent not familiar with handling probate property. Should I even proceed to acquire this property with this agent who is representing me?

4) How long typically till closing? If possible, what are the steps to close the deal?

5) Should I watch out for any unforeseeable outcome?

thank you very much!

[Ned Carey]

The title company (or escrow or however settlements are handled in TX) should protect you. Their job is to make sure you get good marketable title. Make sure you get an owners title insurance policy.  Of course you contract should say you are entitled to your earnest money deposit back if the seller cannot provide good title.