Life Estate HELP! please

[Gary M.]

The property I want (see this thread) is in a life estate. Before I talk to my lawyer please give me an idea of what I can expect buying a house from more than 1 person (the house is to be sold on the individual's death and divided between 2-3 ppl?). I'll get my title search in a few days which I am sure will reveal back taxes that need paid and other things.

Also, what can I do to limit the amount of work my lawyer has to do. What forms should I have ready so he doesn't have to completely generate everything?

Any other input on this deal would be greatly appreciated.

I think if the obstacles can be smoothed out I should be able to get it at less than 50% ARV.