All Forum Posts by: Ibrahim Hughes

This definitely isn't a deal at current numbers. Your $350k is a lot better. But you really want to get under $300k in this market. That rehab will likely run you $125k if it's a full rehab.

Have the seller do the probate on their own if they're up to it. Many folks in NJ are. Will take 1-2 weeks to get done.

Alot more expensive and longer (1-2 months) if an attorney is hired. Good luck.

If you decide to rent try STR (ie Airbnb) if the area supports it.

@Tom Linnik

Start with the probate office first, here called the county surrogate, and see if the estate has been probated first. Just because the property is still in the decedent's name doesn't mean the estate has not been probated.

If it hasn't been probated you will have to first track down the next of kin. In most cases it's the spouse and or the children of the deceased.

I'm a fan of doing my research first so that when I find someone, I have All of their questions answered about the property.

Is it in foreclosure? Are there any mortgages against the house? Is there any equity? Did the property get lost for back taxes? What's involved in the probate process. Do they need a lawyer and if so, who do they use? How much roughly will they pocket from the sale?

In researching the house you may find clues as to where other family members are. Have the right info available so that the heirs can make an informed decision.

@Jared Hennings

I've been down this road plenty of times. Seller wants to send to an attorney. Attorneys don't concern themselves with value. They just want to make sure you are legit and your contract is fair.

I suggest you have your attorney call hers to help boost your credibility.

@Anthony Dooley

I think he is looking for education on how to buy. Not necessarily a source yet.

And some wholesalers are indeed "experts" at locating and securing (via contract) real estate properties at a discount.

@Michelle Garcia

The New Jersey Real Estate Investors Association (NJREIA) is local to our area

https://www.facebook.com/groups/njreia/permalink/2253593224910608/

@Satya Dutta

Why aren't you using an attorney? Your attorney would normally work with the title company to make sure that this judgment doesn't apply (assuming it doesn't).

Additionally, the title company would run a chancery abstract to make sure the foreclosure was done correctly.

Has anyone dealt with Guaranteed rate for a mortgage? Good or bad reviews?

Also if you're from Guaranteed Rate please do not respond to this thread. Thanks.

Good morning. Has anyone dealt with an estate (probated or not probated) where one or more of the heirs were missing and presumed dead (decedent died without a Will)? If so how did your attorney handle it? Did something have to be filed with the court to have someone else represent that presumed deceased person's share of the estate?

@Hector Conesa

Have you posted this and check with local investors in your area? Local Facebook groups are a good place to start in my opinion. There you'll typically find others with the same complaints plus good referrals for an attorney.