Can anyone explain to me how a probate deal works? The agent says that we need to pay $700 to get the probate settled.
Are you a party to the probate case, or are you an outside party (investor) who wants to purchase the property? I can ask some of the people that I do research for (they have me look up info on probate cases and call the personal reps).
I’m the investor. There is a real estate agent representing the interest of the seller. At this point the seller has just verbally accepted our offer price. I guess we need to pay the $700 now. I don’t really know what the process from here on out.
What, specifically, is the $700 for? Isn’t there an attorney involved on the seller’s side?
The executor of the estate signed over his rights to a friend who has power of attorney. They are saying that they need money for a retainer for an attorney and court fees so the friend can legally sell us the house. The money they are asking for will be backed by the property and they will pay it back to us once the house is sold.