Buy a house in probate

[movingonup]

What is the name of your state (only U.S. law)? Oklahoma

I have a question about trying to buy a house that is currently in probate. The seller has accepted an offer on the house. The seller has requested that the buyer send $500 (for escrow) to their lawyer that is handling the probate. The seller said that the lawyer is writing up the contract on the house.

My question is, would it be appropriate to wait until the contract has been sent to the buyer, review the contract, and then send both the contract and the $500 back to the lawyer at the same time. The seller is requesting the money be sent now and then the lawyer will send the contract.

Also would the $500 be refundable if the deal falls through? Or is that something that needs to be addressed in the contract? Shouldn't the buyer review the contract before putting up any earnest money to ensure that the "deal" is what was agreed upon?

Thanks for your help.What is the name of your state (only U.S. law)?

 

[nextwife]

What is the name of your state (only U.S. law)? Oklahoma

I have a question about trying to buy a house that is currently in probate. The seller has accepted an offer on the house. The seller has requested that the buyer send $500 (for escrow) to their lawyer that is handling the probate. The seller said that the lawyer is writing up the contract on the house.

My question is, would it be appropriate to wait until the contract has been sent to the buyer, review the contract, and then send both the contract and the $500 back to the lawyer at the same time. The seller is requesting the money be sent now and then the lawyer will send the contract.

Also would the $500 be refundable if the deal falls through? Or is that something that needs to be addressed in the contract? Shouldn't the buyer review the contract before putting up any earnest money to ensure that the "deal" is what was agreed upon?

Thanks for your help.What is the name of your state (only U.S. law)?

I'd want a third party, such as an title/escrow company to hold my earnest money, if no RE broker is involved.

And, as the buyer, I'd have my atty write up my offer and then send it to their atty.

 

[seniorjudge]

What is the name of your state (only U.S. law)? Oklahoma

I have a question about trying to buy a house that is currently in probate. The seller has accepted an offer on the house. The seller has requested that the buyer send $500 (for escrow) to their lawyer that is handling the probate. The seller said that the lawyer is writing up the contract on the house.

My question is, would it be appropriate to wait until the contract has been sent to the buyer, review the contract, and then send both the contract and the $500 back to the lawyer at the same time. The seller is requesting the money be sent now and then the lawyer will send the contract.

Also would the $500 be refundable if the deal falls through? Or is that something that needs to be addressed in the contract? Shouldn't the buyer review the contract before putting up any earnest money to ensure that the "deal" is what was agreed upon?

Thanks for your help.What is the name of your state (only U.S. law)?

Who are you in this scenario?

 

[movingonup]

My grandparents are the buyers in this situation. I'm just trying to make sure that they aren't taken advantage of.

Thanks

 

[seniorjudge]

My grandparents are the buyers in this situation. I'm just trying to make sure that they aren't taken advantage of.

Thanks

Then they need to hire a lawyer to protect their interests.

Period.

End of story.

Even if.

 

[HomeGuru]

I totally agree**************...