NEIGHBOR DIED, HAS HOME W/ LOAN AND NO FAMILY, HOW DO I PURCHASE

[Christos Fiouris]

Hello bigger pockets friends,

Unfortunately I have a neighbor who just passed away across the street from me here in California. She has no family and her caregiver was told by the bank that he would need to get a probate attorney if he wants to get the property (which he doesnt want to do).

There is still a mortgage with Wells Fargo

How can I purchase this property from Wells Fargo at the loan balance price and not the retail value?

[Tom Gimer]

That's just not likely to happen. Wells Fargo doesn't own the property. They would need to foreclose and be the high bidder at the auction sale in order to become the owner. Then they would typically list the REO with a broker and sell retail via the MLS rather than dealing directly with a buyer.