Subject to and Probate

[Kyle Kufeldt]

I'm currently marketing to probate and have come across a lead that has a mortgage that is close to what the property is worth. The only question I asked was about the total of the remaining mortgage and was going to dig deeper to understand what the monthly payments might be. If the terms on the mortgage are good, is there an opportunity here if I wanted to buy and hold?

My question is if it's even possible to do a "subject to" for a mortgage where the person is passed away? Does anybody know what is required of the executor in this situation? Is there any opportunity for the executor to get the mortgage transferred without having to refinance?

The second part of the question is if there isn't any opportunity to do a subject to, does anybody have any other creative ideas for this? or should I throw this lead away?

The ARV likely worth somewhere between 70k and 80k and probably needs about 5k in renovations in order to rent. The remaining mortgage is right at 70k but I don't yet know the terms.