Buying A Home From An Estate
Has anyone had any experience buying a home from an estate?
Once we have a radified sales contract in place we'd like to move forward with mold remediation. Has anyone started the work before it's gone to settlement?
You understand that any money you spend fixing/rehabbing this property will be lost if the sale falls through. Don't you? Better to wait to dramatically improve the property value until you own it.
Just my 2 cents,
Jeff
As Jeff notes any effort of money spent on improvements is completely at risk.
You are also technically trespassing. That is unless you have a written agreement from the estate saying you can have access.
BTW - If you make improvements and the deal falls through you might have to pay to have the improvements removed and the original details replaced.
See if you can lease option the place before you buy you have agreed both access and pricing. If you have a signed sales agreement that is effectively the option aspect even if the document is not exactly the same.
John
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Oh, One more thing. I did have a lot of work done on a place I was buying and the work was completed before the purchase. I was clearly taking a large risk and I knew it at the time so risk/reward trade-off applies.
John
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