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Updated almost 8 years ago on . Most recent reply
Locking in the Deal Before Probate in DC
A family friend contacted me recently about a lady, who died intestate in NW Washington DC. The family is cash strapped. They are really interested in selling the decedent's very large unrenovated house. The single descendant has three living siblings and no children. One of the siblings is planning to act as personal representative, but has not filed as of yet. Is there anyway for me to tie the house up now in any sort of agreement? I contacted a RE attorney, who I have used before. He wrote: "Until a personal representative of the estate is appointment, there is no one with authority to enter into a contract concerning the sale of the property."
One of the siblings will be calling me this week. I'm not sure what to do or say. I have scoured the forums for an answer. Any suggestions on how to proceed in the conversation as I'd like to lock this down? I'm at a lost right now, but do not want to lose what may be a really good deal. Thanks!
Most Popular Reply
Hi Sina, I was going to leave out the weasel clauses on the advice of @Account Closed. Since I'm navigating unchartered waters relative to my own experience, I'm open to all sound advice. I believe the rationale here on leaving out the weasel clauses is the same in any other deal that you really want. It says in not so many words, I'm serious and let's get this deal done quick and easy. In this case, it may or may not build trust with the PR. They know little of the RE business and just want funds, which is ok by me. I do plan on presenting a fair offer with room to negotiate. Thanks for your question.