All Forum Posts by: Dennis Lanni

Your lucky BP is around, you will saving a lot time & money by hanging out on the site and learning. Also Sacramento is an amazing town for RE investing.

Who signed the deed? Also go talk with the renters.

Rick is right "worst case" is not the correct wording here. Also Rick has most likely done more probates than days I have been alive (so if you get in a jam I bet Rick will have an answer for you)! Buying 2/3 interest would be my approach assuming you have discovered all "known" liens on the general index against the subject property & POI. Seems like the risk / reward is there to spend @ 5K (hopefully less). Lots of way to skin a cat & you just read mine.

Stream of selllers

Keep it simple, purchase 2 of 3 heirs's interest & pay everyone right up front (less than $6,500) and open probate. Worst case you can liquidate the property through the probate court & collect 2/3rd of the proceeds. Line up your buyer with Probate purchase contract & your done.

Good luck

It depends on what the QC is doing (transferring title from the actual owner or transferring air rights; you get the idea here). In your case here you just want to protect your small investment by putting your QC interest on public record which will prevent one of the heirs from selling you out to next highest bidder next week after you paid them.

I always record a quit claim deed of the person's estate interest for that very reason.

Assuming your comfortable with the chain of title (mort. debt, judgments, IRS, ect) you could purchase the estate interest of each heir one at a time. Good luck

If he is the owner he can sign off, your good. You will need to set up a notary with the prison. Also bring quarters for the vending machine for him (he will love you for that). Offer a low amount.

@5000