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Updated about 14 years ago,

User Stats

153
Posts
17
Votes
Hal Cranmer
  • Real Estate Investor
  • Lakeville, MN
17
Votes |
153
Posts

My purchase just went into probate

Hal Cranmer
  • Real Estate Investor
  • Lakeville, MN
Posted

Hi,

I recently had a purchase agreement accepted for a duplex owned by an old lady. She was selling it to pay for the retirement home (or something like that) she was moving into. We were supposed to close at the end of the year.
Well yesterday I received a call from my realtor letting me know the lady passed away. Although sad, he said it means that the closing will be delayed 4-6 weeks. I am ok with this because the place has tenants in it that are paying half the rent the market would provide. I have asked my realtor if we can delay the closing by two months or so which would give those tenants time to move out.
Are there any pitfalls or traps I need to worry about as the duplex goes through the probate process? Anything to worry about asking for the tenants to be out? They are month to month and have no lease or security deposit down. I believe one of them is related to the owner.