First probate appointment follow up..

[Account Closed]

so this morning I had my very first probate seller appointment. I thought it went very well as to building rapport and trust etc.. As you know nothing can be done until letter testamentary has been given which is a few weeks out. I set the appointment more so to introduce myself and to just take action, because I never know what can come out of this. But here is the thing. Descendent had a reverse mortgage and just a few more thousand above that in creditors debt, ( she filed herself to avoid admin fees and such). Being that a reverse mortgage must be paid in full once descendent passes, a year was given for her to pay it off.. She had stated to me that the reason why she only invited me to look at the property for now, is because supposably the court had mention that she may not need to sell the home at all and if that's the case she is going to keep it. So the motivation isn't much so there unless the court says that she has to.

My question is, what would be the reason why she wouldn't have to sell the home? Is it because there is no other debt but the reverse mortgage? Or not much creditor debt? Admin fees? 

Wouldn't the petition for probate mean she would have to sell the real estate?

She has also had a couple offers without letting them in and had mentioned that I have been the only one to see the house. BUT the offers seem a bit high. (Only because she has done some work inside like kitchen and living room). Other than that the tile floor is outdated and what not. More of anything the garage and trim repair, paint touch ups, central air system, dishwasher, kitchen vent, some closet doors, and little stuff here and there probably need to be up to date.

I asked before I left if she would take anything lower that what has been offered and she said, "work the numbers in repairs and make an offer than." Since I have been the only one in the house I would assume my offer would be much more valid than the other investors. Anyways this was a fun learning experience and quite easier than I thought ( well at least this appointment.) thanks again

[Steven J.]

If anything its good practice! Way to put yourself out there. Even though its likely not a deal that will prosper you can test some of your sales strategies especially with the rapport you built so far.