100. We Buy Properties Cash As Is Condition And Closing On The Date Of Your Choice.

Probate Property for sale, she owns 50% and the other brothers, total four brothers, own 50%.

Hello again my name is Chris Russo with 123 Sold Cash. We buy properties cash as is condition and closing on the date of your choice. And today we’re going to talk about another property that I just received an offer. I sent an offer and it was accepted. Okay the property is located in Fort Lauderdale. Okay she called me from my TV commercial And it was a three bedroom, two bath property. The roof leaks, it had a shed in the back, it had window units, and it was an interesting situation. Okay, the situation is there are three brothers and one sister. Okay, and I was speaking to the wife of one of the brothers. And what happens is, and there’s normally, well, usually or sometimes when they have four or five people on the property, a lot of times three out of the four or two out of the three want to sell and then one person does not want to sell. So what do I do? I said, well, you know, I’ve worked with that in the past and we can probably get around that. And so I gave her the offer and the offer was accepted. And so I’m just waiting to see if that one person does not want to sell does want to sell if she has a change of mind. And so I kept following up, following up, following up. And then she called me the other day and she goes, “You know what? They changed their mind.” But she has a friend with a similar situation. And this property was in Lauderdale, Florida. And ironically, it had the same situation. She had an octi and then she had four brothers. And one of the brothers called me and they said, “Listen, we want to sell, but the auntie does not want to sell. In fact, she owns 50% and the other brothers, total four brothers, own 50%. So I said, “What can we do?” So what I did is, first of all, let me disclose, I’m not an attorney. So I emailed my attorney and I asked him about the situation and this is what he responded. He looked up the property in the internet And 50% goes to the auntie, and then 12.5% goes to one brother, 12.5% goes to the other brother, 12.5% goes to the other brother, and 12.5% goes to the other brother. Okay? And so they looked it up and it said one of the owners, let me see what it says. Okay, if one of the owners does not want to sell and the others do, they can force the sale of the property via partition action. And it says with a partition action, the court will engage in a public auction of the property whereby it will be sold and the sale proceeds divided accordingly in proportion to each individual ownership. Okay, alternatively, the threat of a partition sale, in other words, they receive a notice in the mail, usually a good way to get someone to either sell the property or list the same for sale. So what happened is I had the brother call the attorney they’re working it out. He accepted my offer so let’s see what happens. So I guess they’re gonna start the process. She’ll receive something in the mail hopefully she’ll have to change her mind. If not it will go to a public sale. So that’s basically on this situation this is what happened. Again you know everybody calls me and there’s always a situation. So majority of time I know about it if not I’ll ask my my attorney, probate attorney, is very good. If not, I can call or email the title company and they’re local and they’re in Fort Lauderdale. So again, that’s what happened with this deal. Again, the offer was accepted by 123 Sold Cash. We’re quick, fast. If you call me in the morning, I’ll normally get an answer the same day and we work pretty fast. Sometimes I can close as fast as 20, 25 days because we have to order the title, then we have to do a municipal insurance check for any code violations, expired open permits. So again, thank you and I’ll see you on the next video. Bye bye.

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