Question about estate sale homes

pollopicuSeptember 3, 2010

I have been searching the forum history for any info on estate sale homes, but couldn't find any topics on the subject.

My husband and I recently found a house we're absolutely in love with, however, it's part of an estate sale. We put in a written offer on the 18th of Aug. and today is the of sept. we're told it's in the hands of a probate judge who makes the decision whether or not he will accept the offer.

my questions are; has anyone dealt with this before and do judges counter offer? and how long is the process?

Any info would be helpful.

Thank you for reporting this comment. Undo
brickeyee

How property held by someone who dies intestate (no will) varies by state.

If no person comes forward to act as executor of the estate, it can be handled by the courts directly in most places.

I have purchased many properties from estates, but only once had to deal with probate court.
All the others have had executors appointed who had qualified to sell the property.

It would probbaly be worth having an attorney deal with the probate court to help move things along.

You can always withdraw an offer that has not been accepted, and include a deadline in an offer so it dies automatically if not accepted in a reasonable time.

If you purchase from an estate you will most likely receive a 'special warranty deed' instead of a 'general warranty deed.'

As long as you get an owners title insurance policy it does not make much practical difference.

    Bookmark   September 4, 2010 at 11:24AM
Thank you for reporting this comment. Undo
pollopicu

Thank you very much.

The state in question is CT.

We understand that there are 4 adults (the owners children) who own the home, but a probate judge is in charge of making the decision. I'm guessing there has been a family dispute about the property?

Also, would I dare give a judge a time limit to answer? we really want this house and don't want to piss him off.
Lastly, do judges counter-offer?

    Bookmark   September 4, 2010 at 12:10PM
Thank you for reporting this comment. Undo
totsuka

There might be a problem with disclosure of known problems. I think they don't have to disclose anything and you could get burned. If the estate home was an elderly person they might not have maintained the home for many years. Did you get it inspected? It is amazing what a coat of paint can hide.

    Bookmark   September 4, 2010 at 6:21PM
Sign Up to comment
More Discussions
trying to buy worried about appraisals
I looked at a house, liked it an made an offer. The...
neobuyer
Getting house ready to sell and have door knob question.
My house is going on 11 yrs old. Everything is pretty...
padillasideas
something to check when buying a home (pets/carpet)
something i wish i'd checked out before purchasing...
kiki_redo
Should we buy a home that was unoccupied for 6 years?
There is a cup-de-sac where a builder built 5 homes,...
coffeemama1
Home Buyers Please Vote: Would you rather ...
1. A $2,000 kitchen appliance allowance or any stainless...
belfastbound
© 2015 Houzz Inc. Houzz® The new way to design your home™