Buying a Property from a Convicted Felon

[Bob Baldwin]

Well you never know where your next lead will come from ! I'm standing in line at the local Kroger Supermarket the lady behind me had a few people come up to her asking how her brother was doing ? Apparently he just got sentenced to 10-12 years at the State Penn for 4 or 5 offenses . The lady about mid 20's was telling the people that she was going to have to sell her brothers house . Apparently the sister and the guys Parents were making the monthly Mortgage payments till after the trial was over and a conviction was had . Now they all want out . 

Details as best as I understand them : 

    House is a 3Br 2 Ba 2 car garage . 

    Comps show recent sales last 90 days $229,000.00

    Mortgage is $105,000.00 As stated it is current . Not in Foreclosure .and Taxes paid .

    This lady further told me  They are looking for the following : 

    Pay off the Mortgage , Repay the parents 8 mortgage payments they made plus the 3 that the sister made . Along with about $10,000.00 in outstanding bills so as there are no liens and 1 judgement to be satisfied .

   The numbers seem to work out OK But I called my attorneys office to get some questions answered and he and the family are out of town for the next 10 days . I am in a position to make an ALL CASH OFFER But Not sure where I stand .

  To Whom would the Offer be Made ? The convicts name is on all Documents . At what point does he Not have control of the house ?

 *I have Never been in this type of Negotiation before . Needs some advice Deal or No Deal ?