Posted by Kristine-CA on February 19, 2005 at 20:51:58:
Ron: I do not use probate as a big source of motivated sellers. I do
periodic mailings to estates that may or may not be selling real
property. I’ve gotten a few deals that way.
My knowledge of probate comes from using probate actions to solve
title flaws. Those deals come to me via other leads (vacant,
abandoned, tax liens, etc.)–probate is often what needs to be
addressed in order to clear title.
Sorry I can’t help you more. There are several courses out there
that specifically address probate. Kristine
TH,
I was told that in my case it would be pretty quick to go thru probate. We had no will, my brother & sister agreed that I should be executor, and I was listed on my mother’s bank account. 6 months later, we were good to go. Initially, I was told it would take about 3 months.
Posted by Kristine-CA on June 18, 2004 at 11:03:03:
TH: where I am, the time it takes depends on the action. A probated estate takes a least a year. Even if the executor or administrator moves quickly, there are things that the county has to do that can take time. Like the hearing dates and the probate referee appraisal. However, there are simple actions such as transferring title via petitions that that can take less than 4 months.
My experience says plan for it to take 3 times longer than you expect. Kristine
I am living in a house under a contract for deed. The heirs are petitioning the court right now. When can I sell or refinance since title isn’t in my name? Thanks
Posted by Kristine-CA on June 18, 2004 at 12:01:56:
Jay: I’m not a lawyer and this is not legal advice. I am assuming that you have a CFD with the deceased? My understanding is that the estate of the deceased is bound by whatever your land contract says. So if you want to pay off today, the estate would have to accept payment and issue the deed. However, this can get complicated because there needs to be someone (an adminstrator or executor) that intiates the estate and can sign for the estate, etc.
What are the heirs petitioning for? Title to the deceased’s interest in the property? Or to administer the estate? Kristine
Posted by Kristine-CA on June 18, 2004 at 15:54:55:
Jay: I don’t know where you are located. Here in CA they could take title via a petition without a formal probate if certain other requirements are met.
I know no way to speed up the probate process. And believe me I have tried. Trouble is that so many things can and do fall through the cracks and nobody checks on it. It’s really about the vigilance of the probate attorney. Kristine
I am going through archives today trying to learn as much as I can about finding motivated sellers. Probate keeps coming up as what may be an excellent way to proceed. It appears that you are very knowledgable on this topic. I apologize if I am imposing on you in any way, but I am hoping you could give me a few quick words of advice on what you believe to be the best way to go about learning how to find probate leads, contact probate leads, and in general learning about how probate works in my State of Washington so that I can locate and close a few deals each year from this source.
Probate is not as hard to overcome as many think.
Go to the courthouse and talk to the people in the probate division/civil courts area. They most likely will be willing to help you help them. Take copies of your papers. You may be able to file them showing your interest in the house. You should be able to refinance, assuming you are paying off the CFD, in a reasonable amount of time. Like all things, be persistant and patient with the probate people. There job is to settle the estate; ask for time lines from them, ask what they can do to help and what they can’t do. The hiers cannot force you to sell or re-fi. You could continue paying on the CFD, maybe making payments directly to probate court. Don’t stop making payments, make arrangements with the court. If you are making payments, they will act faster than normal time lines,they have to.
Kristine