“Waiting for an Estate to Settle”

“Waiting for an Estate to Settle”

 

 

 

Hi Joe!  How are you?  Hope all is good. I received this email yesterday from my realtor. I guess it’s time to start the process. I’ve been promised by my mother’s attorney that her estate will be finished on or before November 1st. I have some things to pay off right away and then my credit score should be good to go. I’m pretty anxious because I’ve worked so very hard for the past 13 years for this. It will happen I’m sure but it’s hard waiting for people to do their jobs etc.  I know exactly what I need to do but just need this estate to be done as promised on time. 

 

 

Estates take time to get settled and when down payment funds are coming from that source it is easy to get dates messed up. The transaction was supposed to close a year earlier, but the estate was not yet settled for down payment funds to be available. Fortunately, the seller was willing to wait, but there is a limit and we are at that point.

 

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 4 commentsJoe Petrowsky • October 24 2019 03:17PM

Comments

Estates take time to settle, and often, attorneys are in no rush....there are more profitable tasks for them...

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) 26 days ago

Word of caution.  If your buyer is waiting for funds out of estate settlement for a downpayment and you have the property under contract, please let the listing agent be aware of possible long delays. Anything that involves an estate is usually a long drawn process. Its like watching grass grow!

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) 26 days ago

Good morning Joe. The process is subject to timing delays. A patient seller is a blessing. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 26 days ago

Lucky that the Seller was willing to wait. I am in a similar situation now and the Seller wants to take the offer. Since there is no guarantee of settlement day, I have advised him against it. Great post!

Posted by Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Solutions) 25 days ago

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