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Updated over 3 years ago,
Wholesale an estate my family is the executor of
In situations like this, it’s pretty great not be the first person ever to come up with the idea. So hopefully you could help me a bit.
We live in New Hampshire and my mother was named the executor of an estate of a late family member. The assessed value of the late family member's house is $300,000. The fair market value is around $380,000. Can I start a wholesale LLC, have the executor sign me the contractual rights to sell the property, find a buyer for $380,000 then pocket the difference? There's a huge supply shortage of sellers in the area right now, so finding a buyer for the value should be pretty easy.
But I feel like this is too good to be true. Am I missing something?
-J. Atlas