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Updated over 4 years ago on . Most recent reply

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27
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Summer Noyes
2
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27
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Probate Property on MLS. Seller financing possible?

Summer Noyes
Posted

I found a condo I'd like to buy and use as a rental. When I asked the listing agent why the owner's were selling, she told me it was a probate sale, but it did not need court approval. The heirs simply don't want the home. From what I found out researching, the occupant was 88 years old and it looks like he bought it when it was $51k (worth far more now) and still paying taxes on that original amount. I assume he's the original owner and it's paid off. I'd love to offer seller financing on this, but 2 questions...1) Can you do seller financing on a property that is in probate? 2) Do I have any chance of getting to the sellers since they already have a listing agent? I've been keeping my eye on this condo complex and would really like to get in there and seller financing would be great for me right now as I am in escrow on a different property and I don't think a lender will give me a conventional loan back to back. Any input or other creative financing deals welcomed. Thanks in advance.

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