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Updated about 9 years ago,

User Stats

139
Posts
10
Votes
Raden Mantuano
  • Wholesaler
  • Southern, CA
10
Votes |
139
Posts

First Probate Wholesale Appointment?

Raden Mantuano
  • Wholesaler
  • Southern, CA
Posted

So after months of mailing i finally got  a motivated seller to show me their property next weekend. I just had a question. If property was appraised at 125k.. and 47k is owed on the mortgage. Since the home is the only asset of the descendant, would the sell of the house have to be the liquidation to pay off ALL or SOME of the creditors, expenses, attorney, fees  etc.. as well?

Would i not be able to make an offer just to pay off what is owed on the home?

My understanding is "IF" i did make the offer to only pay off the mortgage, that means the executor would be liable to pay off the rest correct?

but of course the over all goal is to help out, so i would assume i would have to make an offer to pay off the mortgage + creditors, debt, fees and etc? 

or could i make an offer to Pay off mortgage + a portion of debt and the rest can be paid by executor or heirs? (Of course with agreement)

I just want to make sure that I am going to make the right offer. that provides a WIN WIN situation. I appreciate anyones help thanks guys! 

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