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Updated over 6 years ago, 10/08/2018

User Stats

90
Posts
24
Votes
Ricardo Murph II
Pro Member
  • Specialist
  • Cleveland
24
Votes |
90
Posts

Home owner wants to sell but sister has life estate

Ricardo Murph II
Pro Member
  • Specialist
  • Cleveland
Posted

I am wholesaler/ investor in the Cleveland area. I was contacted by a gentleman that wants to sell his house.  The problem is his sister lives in it and she has a life estate on the property.  During my google search this means she can live in it till she dies. 

He says this home is well kept in a nice area of a city called Brooklyn. 3/1.5 finished basement. His parents took out a 50K HELOC about 4 years ago, which is only debt on the property that is 140k on Zillow.

He didnt give me a number but he he just wants to cash out his ownership and let the investor deal with his sister. Is there anything I can do?  What questions should I be asking?

  • Ricardo Murph II
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