Reasonable Price To Wholesale --- Scenario
I found a vacant. The original owner has been deceased for over 10years, left no will, however the cousin has been takin care of it----until the last couple of years. The closest that falls next in the inheritance line is a niece from his sister who lives in another state and claims she has no interest and is willing to sign documents No spouse/children..mom/day/all siblings deceased. My questions are:
1. How do I acquire this property to assign it?
2. On the contract who do we write as the seller?
3. What do you all think is fair to give to the niece and cousin for their time/attention?
4. What would be a sales prices to wholesale it?
5. Lastly I was told that we would need the affidavits for everyone that has passed that would have inherit the property. Is this worth the hassle?
Taxes are way behind and about to go into foreclosure soon--the cousin has stopped paying taxes due to illness.
Property is small and comps are about $42k. Taxes behind about $6k. Needs work. How would you proceed with this type of scenario?
Your suggestions are appreciated.
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