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Updated almost 7 years ago on . Most recent reply

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143
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Nolan M.
  • Rental Property Investor
  • Mesa, AZ
187
Votes |
143
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Motivated seller can't afford probate, how to structure a deal?

Nolan M.
  • Rental Property Investor
  • Mesa, AZ
Posted

So I found a lady who wants to sell her dad's house but she can't afford the 2k to pay a probate attorney to get the house put in her name. My solution is to have my brother, who is an attorney, do the probate work for her and once its in her name I'll buy the house from her. My concern and question is how to ensure that she sells me the house after probate is complete. What would keep her from walking away after the house is in her name leaving me stuck to compensate my brother and no deal for me? I've read other forums her on BP about sellers not showing up to sign at closing and the only recourse is to sue, which means more money for the lawyers and less for me, lol. Anyone have experience with a similar situation? 

Most Popular Reply

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Tom Gimer
  • DMV
3,417
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Tom Gimer
  • DMV
Replied

@Nolan M. "We"? 

As a new attorney your brother is stepping into a potential mess. His fiduciary duty will be to the estate, the same estate you'll be trying to pay less than FMV, and as such your interests will be directly opposed. The standard is the appearance of a conflict... here you may have actual conflict. Tell him to dust off the Professional Responsibilty textbook.

  • Tom Gimer
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Eastern Title & Settlement
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