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Updated about 8 years ago, 11/22/2016

User Stats

7
Posts
2
Votes
Dianne Russum
  • Investor
  • Baltimore, MD
2
Votes |
7
Posts

Seller Dies before closing

Dianne Russum
  • Investor
  • Baltimore, MD
Posted

I was in the process of purchasing a house from a seller that inherited the house from her mother. I am working with a real estate agent who has been very good about keeping me informed and guiding me through the process. Real estate contracts have been signed on both sides, financing approved from hard money lender, I have received the HUD-1, Unfortunately, the day before closing, and just before I was going to wire the funds to the title company, the seller died.

I understand that the seller has one daughter who is still interested in selling the property.  I have been reading information in the Register of Wills for Maryland and have spoken to the title company, and other investors. The title company tells me that the daughter only has to get a death certificate and become the personal representative and the process should not take much time.

Others are telling me it may have to go through probate, this may be a very lengthy process and our contract is null and void since the owner died,  that I should contact the daugther directly. I can find no clause regarding successors and heirs in the real estate contract. I plan to talk to an attorney but would like to get some advice, suggestions, and input from the forum. Thank you and happy holidays everyone. 

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