Example
The easiest way to show how this works is with an example.
Situation
- Abby is a widow.
- She has two children, Bob and Carol, both adults and still alive.
- Abby owns an modest, old home in Florida.
- Abby dies without a will.
- Bob and Carol are her heirs. The inheritance is split between them, 50-50.
- Bob and Carol didn’t probate Abby’s estate and don’t have good title.
- The property taxes on Abby’s home have been unpaid since Abby died.
- Abby’s home is scheduled for a tax auction.
Before the Auction
Bob and Carol are getting bombarded with calls, texts, email, letters, postcards, and even people knocking on their door, all claiming they want to buy Abby’s home.
These buyers come in two types:
Real Buyers
Real buyers want to close and own the property. However, when they realize Bob and Carol don’t have good title, they walk away without making any offers.
Phony Buyers
Phony buyers don’t intend to buy the property themselves. They want to tie up Abby’s property under a contract with a small deposit, then sell that contract for more money to somebody who really intends to buy the property. The problem is, the same kind of real buyers who wouldn’t buy from Bob and Carol won’t buy from the phony buyers, either, because of the bad title.
Learn more about how to spot phony buyers here.
As the Auction Gets Closer
By now, all the real buyers have walked away without making offers. If Bob and Carol made a deal with a phony buyer, it fell through. They’re about to lose the property and get nothing.
Our Solution
Simple Discussion, Then an Offer
We talk to Bob and Carol and confirm they are Abby’s only heirs. We take about a day to research the property and Abby’s family tree. Sometimes this only takes a few hours. Then, we give Bob and Carol an offer, over the phone, to buy their property, with their title AS IS, and us paying all the fees and closing costs. They agree.
Simple Online Form
We email Bob and Carol links to a simple online form where they confirm their agreement to our deal with just a few clicks. This can even be done on a smart phone.
Mobile Notaries
We arrange for mobile notaries near Bob and Carol to meet with them to sign the documents. Depending on where they live and everybody’s schedule, this takes about a week.
Verify Payment
Before we send Bob and Carol’s cashier’s checks to their notaries, we make copies of them and email them to Bob and Carol. The checks say right on them that we can’t stop payment on them. Bob and Carol can call our bank to confirm the checks are good.
Signing
The notaries call and schedule the signings. Bob has his notary come to his house. Carol meets hers at a coffee shop. In less than 15 minutes, all the documents are signed.
Cash at Signing
As soon as all the documents are signed, the notaries hand Bob and Carol their cashier’s checks.
Done Deal
That’s it. Bob and Carol have their money, in about a week, with no probate.