[WSBAPT] Selling Property from Estate using a Deed of Trust (foreclosure risks)

[Mike Winslow]

BTW, if they decide to proceed, my company, INCS, provides contract
collection services to track installment payments.
http://incsnoteservices.com/
If there are  multiple heirs who will divide monthly payments, the
collection service can handle the split disbursement.
 
Also, the seller should obtain a substantial down payment if they are going
to finance the sale, so the buyer has some skin in the game; at least 20
percent.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it's confidential. If you are not the
intended recipient, it's too late to stop reading this message, but you may
not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of G. (Gus) Benjamin
Lindsey III
Sent: Wednesday, May 03, 2017 2:23 PM
To: 'WSBA Probate & Trust Listserv'
Subject: [WSBAPT] Selling Property from Estate using a Deed of Trust
(foreclosure risks)
 
Hello,
 
PC (personal representative) is considering an offer buy real property from
an estate using a deed of trust. (Seller carrying the loan balance)
 
Seller/Personal Representative wants to know how "difficult/expensive" it is
to regain possession of the property in the event of a default. 
 
While I handle some property related matters, including ejectments, I am not
familiar with the foreclosure process.
 
Anyone have insight on this from the perspective of an estate? My initial
reaction is that this may not be the best approach for the estate but that
may be based on some past horror stories! My typical probate client does not
want this approach so this is  new one for me.
 
 
Sincerely,
 
G. (Gus) Benjamin Lindsey III
Attorney-at-Law

 
The Law Office of G. Benjamin Lindsey III
2012 Grade Road, Suite 202
Lake Stevens, WA 98258
 
Phone:   (425) 263-9585
 
website: www.gbl3law.com <http://www.gbl3law.com/> 
 
Employment/Labor Law     Construction Law     Civil Litigation     Estate
Planning      Probate     
Business Law
 
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