@Rick H. Appreciate you breaking this down. I had the chance to meet you at the local REIA several months back and I bought a copy of the probate book at that meeting.
You raise a good point about being unclear, what's changed is the in-laws want more money for the property than its appraised value. I still want to put in a back up offer, obviously closer to the appraisal. I asked about the attorney , because I have never been involved in a sale where the proceeds need be split up in multiple, and when asked by the VA loan officer how this would be dispersed, I did not exactly know, neither did he.
Escrow Rep preparing instructions to lender ? Sounds like maybe an attorney is overkill?
At any rate the property is free an clear, most of the cash and personal property has been portioned out. Its pretty much now about the house, no debts no creditors.
Initially I thought my wife and I could buy out the other 9 siblings interest in the Trust, so I began shopping for buy out cash based off comparables and a appraisal. Recall you said you did this type thing at around 50% and another portfolio type was at 70%.
Then the "siblings" decided they want to list the property, so I figure I would shop for conventional lender, in which case VA looks like the best money. I realize this takes it out of the trust. If I am saying that correctly?, and makes this a traditional seller / buyer deal.
See said the blind man... lol
