Forum

No probate situation

Posted by Luther Fisher on March 30, 2016 at 3:20am in Short Sale Discussions
Ive got a possible short sale situation here. The borrower passed away and the HOA foreclosed on the house. HOA is willing to let me list the property. Now the bank is starting to foreclose. House is in a nice area. The borrower does not have any probate. The family says there were no assets or will and they dont mind me contacting bank but I think bank requires some probate paperwork amiright?

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Email me when people reply –
Follow

Replies

  • Jonathan Katz March 30, 2016 at 4:11am

    If the borrower is deceased the bank will require an executor of the state. It may need to go through probate to get the document needed for the bank to work with you. There might be a way to do some sort of filing  to just obtain a document that will suffice without having to go fully through probate, but you'd need to ask a local attorney.

    I hope this helps and let me know if you need anything at all.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

    • Luther Fisher > Jonathan Katz March 30, 2016 at 2:08pm

      They do have a power of attorney from the borrower that was recorded before they passed. Do you think that will work? I may try and see. 

This reply was deleted.
********************************** like buttons ************************