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Updated over 7 years ago,
Buying a lot to stop foreclosure
Hey all!
I'm looking for some help with a situation I'm working on...
A lot was willed to a man and his sister but was never taken out of the original owners name.
If he can sell the lot for cash, the man will use it to stop foreclosure on his house where he lives, (a different property).
The auction is in 3 weeks
1) Can the title be changed into a buyers name, or does it need to go through certain stages of probate before they can legally sell the lot?
2) If the property can be sold simply with a contract and the man and sister signing, what other variables could there be to slow the process?
3) How fast could a deal like this be done?
Thanks for any insight!!