Seller Died 2 weeks before my First Flip purchase - Posted by Dee Jay

import · February 1, 2005, 1:52pm

Posted by chet on February 01, 2005 at 21:58:05:

NY laws may be different, but in CA, my estate is bound by all contracts I make.

import · February 1, 2005, 1:52pm

Posted by Dee Jay on February 01, 2005 at 14:52:58:

Any suggestions on what I can do would be appreciated,

I was under contract to buy a duplex in Bklyn for 260K from a friend whose grandmother owned the house free and clear. (The house needs lots of work approx. 80k worth.) I sold the contract to another Investor for 290k and we were supposed to close and everyone go home happy.

The Grandmother was in a nursing home and very ill and my friend’s mother had Power of Attorney.

Two weeks before closing the Grandmother dies and Now we are waiting for Letters to be signed by the children whom 2 of them do not want to sign because they think the house is worth more money.

Anyone have any Probate experience with any other suggestions. This is my First Flip and I am STRESSED!!!

Thanks,

DJ

import · February 9, 2005, 10:27am

Your “killer” deal - Posted by John Merchant

Posted by John Merchant on February 09, 2005 at 11:27:21:

I’d suggest you spend a few dollars with a local RE knowledgeable lawyer and get his/her advice as to what you might do to move the deal along.