Estate Owned by Heirs

[Tiffany Miller]

I have a house that I am trying to get under contract with the intention of utilizing BRRRR. This house was owned by a lady who passed away, and her three daughters are now co-heirs and owners. I spoke with all 3 sisters in person back in June and all were on board with selling. They had to file certain paperwork with the courts regarding their heirship and ownership of the house, and they have done so. In the time that has passed while they were filing the required paperwork, one of the sisters has since changed her mind about wanting to sell the home; however, both of the other sisters say she does want to sell and that sometimes she is not always in her right mind. Is this deal still worth pursuing or should I move on and look for the next deal? Any advice or recommendations would be greatly appreciated! Thank you!

[Rick H.]

Your hesitancy is in your mindset, not in the opportunity at hand!
I recommend you spend a bit of time writing down what the basics of your criteria (for any deal) so that you have a guide as to what must be true to go forward. 
Once you have some basic criteria to compare each opportunity, you will subject is to the test of “If I got everything I asked for, would this meet my objective?”

If you’re new and like I was in 1978 when I started working distressed property situations, I had few real opportunities to speak to principals (owners/sellers/heirs/fiduciaries). Consequently, my confidence showed up in the form of doubt about the likelihood of more (and better) opportunities being available. If you cannot buy this house on the right terms, there really are plenty more fish in the sea. Trust me!