Getting Creative! How I'm Closing a Probate/ Foreclosure Deal

November 08, 20222 min read

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Getting Creative!

How I'm Closing a Probate/Foreclosure Deal


We encountered this situation this week…and I hope it helps you get creative if you run into the same thing considering foreclosures are SKYROCKETING!

Seller’s PITI + amount they are behind on their mortgage = $70,000

ARV: $180,000


  • A married wife and husband are on title. Both just died

  • Daughter lives in the property, wants to sell it now

  • Mortgage is in foreclosure and is set to auction in 2 weeks if it is not bought current

  • House needs to go through probate

  • The daughter has 2 siblings so all 3 siblings need to be on the same page with selling as they will get the asset equally at time or probate. This is the only asset in the dead couples name 

  • Daughter is the one who’s been handling the house for years, her two brothers don’t care what happens

Next Steps I took:

  • I called a probate attorney first to make sure that it’s possible to even save this before its auction date. He said to run title and make sure it’s the only lien on the property

  • Probate attorney said if we can get the 2 brothers to assign their interest to the daughter then the daughter can handle the probate herself and handle all finances for it

  • Daughter needs to sign a contract with me that if I lend her the money to bring the loan current then they are agreeing to sell to me subject to the mortgage once the probate goes through

    • Obviously this is a little risky on my end, but I’m willing to lend the money and wire the bank current in return to buy the house “subject to the mortgage” 

  • I then called title to start title and found out it is the only lien on the property

  • Once I found out it was the only lien, I then called the probate attorney and daughter to initiate getting 1)  the brothers to sign a paper assigning interest to the daughter and 2) daughter to then sign that I will lend her money with an agreement to sell me the house subject to the mortgage once through probate

  • Once I wire the amount due to bank that is behind, the loan comes current and the seller pays the mortgage until the probate is done in which I’ll buy it

Hope this helps you get creative in the way you approach any situation similar to this in the future. 


Tiffany High

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