Thank you for the response. If "In fact, if there was no will, the real estate is liable for a probate case. In that case, it's likely that the state will take a huge chunk of equity, after supervising the sale proceeds. " is the case, does it even worth getting attorney if a huge chunk of the equity will be gone to the state in addition to the attorney fee?
Quote from: onek on June 13, 2020, 01:19:39 pmThank you for the response. If "In fact, if there was no will, the real estate is liable for a probate case. In that case, it's likely that the state will take a huge chunk of equity, after supervising the sale proceeds. " is the case, does it even worth getting attorney if a huge chunk of the equity will be gone to the state in addition to the attorney fee?It mostly depends on the equity value of the property. If it's one of the cheapo properties that's worth $35k all wet, probably not worth it. If it's worth $250k? Sure, as long as there's no loan(s) against it (or huge liens).Get the property under contract, and THEN do your homework. Perhaps a 6-month due-diligence/probate clause with a 180-day extension, just in case probate goes for a year...? Otherwise, don't do a bunch of due diligence BEFORE you to tie up the property. Waste your time AFTER you've got the deal tied up.