Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
While under contract, one owner dies. Do I have to rescind?
Hi I'm in Washington State, and finally (after a number of failed offers) have a property under contract. We're in escrow and had just completed the inspection when one of the owners was put into hospice and then passed away. (This couple built the home and has lived there for 30 years).
The listing and buying agents immediately asked us to sign a rescission agreement, saying the property had to go to probate and could take up to four months to resolve. Initially we agreed, but still haven't received the agreement to sign. Now we are reconsidering!
Is there a reason why we can't just wait for the ownership to change to the husband's sole name? And, why can't he sign the sale paperwork by himself as joint owner?
What should we do??!