Short sale New York/ Nassau county

[Jack Khorr]

Trying the short sale a property, owner / father passed away. Found the kids and wen into contract. All of a sudden we saw the property on MLS in New York/ Nassau county listed by the agent for sell and now found out the father in fact had a girlfriend and left a will that gave her 65% and his kids 35% of proceedings. The house is abt to go on foreclosure . How should we approach this situation. The girlfriends agent is going to court to get probation which will take 2-6months . He wants me to get signed paper from kids to agree to short sale. Aren't We suppose to sign contract meanwhile? What's the best way..... Need help with short sale.... should I take step back from this deal????

[Wayne Brooks]

There is absolutely no value or point in heirs going through the trouble to do a short sale....there is no equity, no one gets any money and the heirs have no responsibility for the debt. Probate would be required for anyone to even have the legal authority to sign a purchase and sale contract.