Crazy Situation (please Read)
let me start at the begining
noticed a trustee sale on this house 3 weeks before the www.auction.I left a note at the residence and got a call back within the hour I spent an hour with a crying woman explaining her situation:
two years ago her mother passed away leaving no instument of transfer to the relatives (will) the daughter lived in the house for the past two years she fell on hard times now cant make the payment her brother has been seeking legal advise to get the tittle in there names
Here is were it gets intersting the brother has no clue that the house in in defalt and the bank wants all of 86,000 up front no extentions (house is worth 400,000 California)
no one has credit and last i talked to them there in denial
they cant see that the bank in not www.joking.They cannot sell the house , deed it, or transfer the tittle becouse mama is not around
So what i did is write the bank and made an offer to be presented to the board of directors of the bank
My offer was
pay 240,000 cash for the house
what did i do???
I dont understand It wasnt a short sale (a long sale)what do i do
if the bank takes my offer will the 86,000 go to the bank
and the rest go to the family or does the bank take it all ??
in california if the sale of the house is more ie court steps the owner of the house Mom would be entitled to the money over what is owed to the bank
someone please explain what it is that im doing and what i need to do
Confused
Pete
checked courthouse no liens or seconds
I submitted the bid without the family knowing .Am I going to hell like everone in my family says
Well it is odd, since when a person dies, especially one with Property in California the courts usually assign a trustee to take care of the property, i.e. liens, notices in the paper to let others know that it is being handled by the court appointed party. So it is odd that the family lived there without them ever being contacted by the court and then having the trustee petition the court for the family to remain in the house. So I would look further and see if there is a court appointed trustee on record.
It sounds like your client needs to open a probate case. She nor the bank has the right to sell the house. I had the same problem a couple of months ago.
how did you handle it
Darryle-CA is correct. You need to ask the children of the deceased to contact an attorney BEFORE the sale occurs and open a probate so they can establish their ownership interests.
They can then sell or do as they wish witht he property.