Flipper · Harrison Township, MI · Member since 2015 · 40 posts · 2 votes
I have reached a verbal agreement with the executor of the the estate. Whom do I list as the "Seller" on the real estate purchase contract? Can anybody confirm that only the executor will need to sign the agreement in Michigan? Thanks in advance.
I just put an offer in on an estate sale home. I made it to "The Estate of (the deceased's name)". I wouldn't expect much variation on that state to state.
If the house is in a trust, then the owner of record may be the name of the trust, and you would address the offer to the trust itself or the trustee - ask your attorney (I'm not one).
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
I am currently buying property from my deceased grandmother's estate in Michigan (Bay City). The seller is the estate. So on my purchase contract, the seller is listed as "The Estate of blah, blah, blah". There are 3 children of my grandmother's that are inheritors, but only one of them is the executor, and he is the one I will be closing with. He is the only one who needed to sign the purchase contract. Also, he is the only one required at the closing, as he is the only one who signs any of the paperwork. The closing is being done by the estate's attorney, but title insurance is being provided by a title company. We just decided to use the attorney for the closing as he is cheaper than what the title company would charge.
I just put an offer in on an estate sale home. I made it to "The Estate of (the deceased's name)". I wouldn't expect much variation on that state to state.
If the house is in a trust, then the owner of record may be the name of the trust, and you would address the offer to the trust itself or the trustee - ask your attorney (I'm not one).
David J Dachtera
"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
Attorney · Birmingham, MI · Member since 2016 · 6 posts · 1 vote
10y
Mike, you will also want to make sure that the person you are dealing with is, in fact, the executor/personal representative of the estate. He or she should be able to produce a short form titled, Letter of Authority for Personal Representative, certified by a court showing that person is the personal representative for the estate in question.
Attorney · Birmingham, MI · Member since 2016 · 6 posts · 1 vote
10y
No problem, Mike. I am a newer investor in SE Michigan including Macomb County and am an attorney by trade. Let me know if you have any other questions.
I have reached a verbal agreement with the executor of the the estate. Whom do I list as the "Seller" on the real estate purchase contract? Can anybody confirm that only the executor will need to sign the agreement in Michigan? Thanks in advance.
We've purchased estate sale properties that were listed & off market in the past. In both cases we have used "Owner of Record" for the seller. Sometimes the executor has come back to change it to Estate of ..... Other times there were no changes.