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

Thu May 4 11:06:28 PDT 2017

Funny and thanks!

When the PC mentioned the idea to me I actually did the "warning! Warning
Will Robinson!" bit, however, I advised the PC that I would run the idea by
others!

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:  <http://www.gbl3law.com/> www.gbl3law.com

Employment/Labor Law     Construction Law     Civil Litigation     Estate
Planning      Probate     

Business Law

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Dewey Weddle
Sent: Thursday, May 04, 2017 10:58 AM
To: wsbapt at lists.wsbarppt.com
Subject: Re: [WSBAPT] Selling Property from Estate using a Deed of
Trust(foreclosure risks)

Gus,

What happens to the property if the PR does not accept the offer of the
buyer wanting to use the Deed of Trust?  I am presuming the property would
be sold anyway with the proceeds going to beneficiaries.  If that is the
case, then I would advise the PR to sell the property in the conventional
manner.  There are too many possibilities for something to go wrong selling
to a buyer using a Deed of Trust.  Why sow the seeds for future trouble?  If
the buyer wants the property, let him obtain financing in the conventional
manner and let somebody else worry about whether payments are made.  I am
pretty sure that the PR would not relish the prospect of becoming embroiled
in foreclosure proceedings in the event the buyer failed to meet the terms
of the note.  The beneficiaries probably would not be very happy either.
Warning Will Robinson!!!     

Best regards,

Dewey W. Weddle

Law Office of Dewey W. Weddle, PLLC
909 Seventh Street
Anacortes, WA  98221

Telephone: 360-293-3600
Fax        360-293-3700

----- Original Message ----- 

From: G. (Gus) Benjamin Lindsey III <mailto:lindsey3 at gbl3law.com>  

To: 'WSBA Probate  <mailto:wsbapt at lists.wsbarppt.com> & Trust Listserv' 

Sent: Wednesday, May 03, 2017 2:22 PM

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

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to
The Law Office of G. Benjamin Lindsey III, which may be privileged,
confidential and/or protected from disclosure.  The information is intended
only for the use of the individual or entity named above.  If you think that
you have received this message in error, please contact the sender.  If you
are not the intended recipient, any dissemination, distribution or copying
is strictly prohibited

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