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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Probate and house in foreclosure Posted by Ward-CA- on December 30, 2001 at 3:07 PM In Reply to: Probate and house in foreclosure posted by Todd-wa on December 30, 2001 at 1:21 PM : Any suggestions on approaching a personal rep or the attorney of the rep of the estate where the house is about to go to sale? : It appears that the loan was paid on for some months then payments stopped several months ago. =•=•=•=•=•=•=•=•=•=•=•= Todd, I would approach the estate’s executor or administrator since he/she is the one who is empowered by the probate court to settle the previous owner’s estate. Ask what they want for the property in its “as is” condition and given all the delinquent payments on the financing, unpaid property taxes, non-existent insurance coverage, deferred maintenance, etc. Ask if they have any current appraisal of the property and any current home inspection report. If it looks like you might be able to strike a deal with the administrator then risk the $250 bucks to get a thorough home inspection with someone who has credentials like ASHI. Can find one close to you in the phone book I’d imagine. The inspector will spend about 2 hours at the property (you should be there) and write up a voluminous report of about a dozen pages, detailing all that’s wrong with the property. Get two copies of the report and go talk with the administrator and use the home’s deficiencies to justify a lower than market value offer. You might be able to talk them into no cash up front and securing what they've agreed to all paper that is all due upon refinancing or resale or in 18 months, whichever occurs first. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Any suggestions on approaching a personal rep or the attorney of the rep of the estate where the house is about to go to sale? : : It appears that the loan was paid on for some months then payments stopped several months ago. : =•=•=•=•=•=•=•=•=•=•=•= : Todd, I would approach the estate’s executor or administrator since he/she is the one who is empowered by the probate court to settle the previous owner’s estate. Ask what they want for the property in its “as is” condition and given all the delinquent payments on the financing, unpaid property taxes, non-existent insurance coverage, deferred maintenance, etc. : Ask if they have any current appraisal of the property and any current home inspection report. If it looks like you might be able to strike a deal with the administrator then risk the $250 bucks to get a thorough home inspection with someone who has credentials like ASHI. Can find one close to you in the phone book I’d imagine. : The inspector will spend about 2 hours at the property (you should be there) and write up a voluminous report of about a dozen pages, detailing all that’s wrong with the property. Get two copies of the report and go talk with the administrator and use the home’s deficiencies to justify a lower than market value offer. : You might be able to talk them into no cash up front and securing what they've agreed to all paper that is all due upon refinancing or resale or in 18 months, whichever occurs first. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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