Posted by Rick, the Probate Guy on March 15, 2010 at 22:01:50:
In Reply to: estate has some abandoned property posted by lukeNC on March 15, 2010 at 14:21:15:
Luke - I agree with Kristine. Not sure where Bob's coming from though.
Yes, you can purchase the heirs' interest(s) and then probate the estate yourself.
Like Kristine says, it can be complicated (that may be an understatement).
Also, if you like clean, fast deals with a certain profit, it's easy to get tangled up in a mess and discovered that you've stepped into a hornets nest.
Lastly, heirs can sometimes have unrealistic expectations. I like to say that heirs know how to add, but not subtract because everybody wants to go to heaven, but nobody wants to die to get there.
So, the challenge is in piecing it all together, understanding what's required to do the deal and what the true net value is after deducting expenses, many of which are very difficult to determine up front.
You're a long-time contributor here and I'd be willing to help you, just as Kristine has also offered.