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Updated over 8 years ago,
Ugly situation: Pre-foreclosure & Probate
Greetings everyone!
Before anything thank you for taking the time to read and attempt to help me with my situation. My company always advertises and preaches that our best interest is to help both buyer and seller come upon an agreement where they both feel happy with what they are walking away with from the deal. Till this day we have received nothing positive feedback on accomplishing that mission. Today we received a call from a referral and it is one of the stickiest situation's my novice experience has ever come across:
A seller calls me saying she is filing a probate for a property belonging to her mother who recently passed away. She claims she has gone to several banks and realtors and they are saying her only option is to sell the house (in a prime area to flip), which is exactly what we can do BUT then I ask her what her ideal situation would be. She begins to cry over the phone saying how she would want to keep the house that her mother lived in her whole life. She claims she is financially stable enough to purchase the house but "the bank" is not allowing her "to be the seller and the buyer." She has consulted realtors and they say they can get her the home for a 20-30K markup. On top of it all the home is pre-foreclosure. I have been bugging a colleague of mine who is an RE attorney for several things without charge these past weeks so I really don't want to ask him for his assistance on something I'm sure I won't make much on to compensate him for his consultation.
Is there anything I can do in this situation? I am fine with walking away with a small amount ($500-1000) if it will help her resolve her issue. Very inexperienced in this situation and would appreciate all the responses I can get. Thank you again for your time!
Good luck on all your endeavors!
Gabe