Help With (first!) Deal - Need To Record Deed ASAP
Hi all, Will be making a deal later today with a gal who just inherited a house from her aunt who passed away on Monday of this week. Entire estate was left to the niece. Family members not heard or seen from for years are now grumbling and threatening to contest the will which, as far as I know, is a good will (aunt was in proper frame of mind.) The home to be acquired at about 50% of the ARV ( I WANT it!) but then I need to flip the deed ASAP before some family member who feels slighted clouds the title. Exactly what do I need to take to the courthouse? Or do I have to wait for the Estate Notice garbage to commence? Thanks!
You're taking a huge risk buying her rights before any court has ruled that she HAS any!
She says she's inherited the house,but who knows what the probate court will say?
With a potential will contest looming, I sure wouldn't pay 50%.
Probably your best bet would be to pay her just a little bit now for an option to buy her interest, say for 2 years.
She'd have to proceed to probate the will and get a ruling in her favor and good title to the house before she could deliver the house title to you.
If you did it this way, I'd sure record your option so she couldn't "forget" you and sell to somebody else.