How to find Cash Buyers for a Pre-probate Wholesale Deal?

[Ana N.]

Hey all,

I have a property under contract where the sellers are heirs to a property.

The owners of record are the deceased parents and there are no other heirs.

The contract was recorded (I have equitable interest) and I'm working with a title company to create an estate and make it so the sellers can transfer title to my potential cash buyer.

In this case, with the sellers not actually on title, how do I go about marketing for cash buyers in a way that the buyers do not go around me, as the wholesaler? Thanks!

[Rick H.]

Here's a $10 word that will easily cost twelve bucks by the time Chicago's favorite Son is out of Presidential office: consanguinity.

Presuming the decedent died intestate, absent a will, most States laws of inheritance rely on the laws of consanguinity to determine the lineal heirs or issues (children's children). What you have is the parents' expectancy of an inheritance who signed a document that you placed in front of them and managed to get recorded. Hardly something that I can imagine wholesaling.

Since you don't have the power to close due to the current inability of your "sellers" to pass marketable (insurable) title, you've ability to tie up the deal is pretty limited. All you've got is wild contract, not even an out-of-chain deed, which many title companies would either ignore or bind around. This hardly clouds title.

It is possible to tie up and eventually close a pre-probate deal, but not the way that you're going about it. Sorry, I don't give away proprietary techniques on free forums.