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Updated over 7 years ago on . Most recent reply

User Stats

17
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3
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Eddie VanBuskirk
  • Wholesaler
  • Kansas City, MO
3
Votes |
17
Posts

Out of state heir to a property

Eddie VanBuskirk
  • Wholesaler
  • Kansas City, MO
Posted

I have a seller that I have been working with a seller for about 2 months now that lives in California and he inherited a house in Kansas City. The house is in a great neighborhood and is in a great school district.  The house has a 15 year mortgage on the house with 13 years left on it and the payment is 1300 per month and covers insurance and taxes to pay the 120k off.  The property is worth around 200k. and needs a lot of rehab.  

This house was added on to two times and now has a 2 bed 1 bath apartment on it that is metered separately and up stair has 3 beds 2 baths all of the bed rooms are huge. The house could be completely rented out for $1900/month. The kitchen needs to be remodeled and opened up into the living room.  Now here is the problem the gentlemen is going through a divorce and his wife will not sign off for the sale of the house anytime in the near future.  He is paying the 1300 every month and not being able to take advantage of the house.  What can we do in this situation?  

Most Popular Reply

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10,203
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4,937
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Andrew Syrios
  • Residential Real Estate Investor
  • Kansas City, MO
4,937
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10,203
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Andrew Syrios
  • Residential Real Estate Investor
  • Kansas City, MO
ModeratorReplied

This would be a question for an attorney, but I suspect there is a way to compel a sale if it's a financial stress on one of the parties. But it would probably have to go through the courts. Maybe you could offer her some money. But if the property needs a lot of rehab, it might not be worth it in the first place, especially if it's going to be a big hassle.

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