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Updated 17 days ago, 12/12/2024

User Stats

230
Posts
62
Votes
Jamie Parker
  • Real Estate Investor
  • Memphis, TN
62
Votes |
230
Posts

Property in a Conservatorship

Jamie Parker
  • Real Estate Investor
  • Memphis, TN
Posted

This past weekend I was driving with my mom and daughter looking at properties in the Memphis Area. Cutting to the meat of the situation, I came across a property that looked like a fixer upper, typical investment grade property. Could use some work, good bones. Fast forward, I called the agent this morning. I informed the agent that I was a wholesaler. I was informed that the property is held in a conservatorship. While the Agent mention that the seller would prefer no assignment, to which I acknowledged. 

If the seller accepts the offer, (contingent on appraisal[as per court approval requirement]), How should i proceed in the situation. Can I just birddog the situation, step out the way, bring the buy and asking for a referral? or partner with a buyer for a flip? 

Just curious has anyone been a situation like this before. 

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