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Updated almost 9 years ago,
$100K equity deal...tiny glitch
I've come across a highly motivated seller, who has a very nice duplex with $100K in equity right now. Needs no repairs, is in a great location, and is a killer deal.
The seller owes back taxes, and those can be paid off. However, the snag comes with her mortgage holder. The person who originally sold it to her owner financed it...which is great. However, this person died in December 2015, and her 3 kids are now handling the estate.
The motivated seller is 3 months behind on payments, and we could easily catch those up as well, but the children of the estate cannot be reached. They don't seem interested in reconciling this situation right now. The county would foreclose on it in 1 month if nothing happens.
What can I do if I can't get a hold of the estate to pay off the owner financed mortgage note?