Morning, everybody. This is Chuck with Agile Property Solutions. I just wanted to take a minute to make another video for you discussing a property that I worked on a couple of years ago here in Kennewick, Washington. It was a foreclosure, but also had a probate issue tied to it. So the deal here was is that basically the seller passed away and they left this property in a will to a person that was a family friend, basically not related to them. This family friend had really taken care of the seller a lot in their later years. And so they wanted to make sure that they were taken care of, and they got either the property or any proceeds from the sale of the property.
Well, the issue was is that that will was not entered into probate and it was also not prepared by an attorney and notarized. So those two issues there will prevent most sales of a property, or it will prevent you from actually anybody honoring that will, unless you know a few things like we do. So what we were able to do is to come in. We made a deal to buy the property from them because basically the other issue that they were having is that the people that were providing offers or were trying to make a deal with them, the payoff from the bank was actually higher than the offers people were making.
And that was because of the condition of the property. I mean, there’s no way around it. It was rough. It was very rough and it was an acre lot just piled with stuff. So there was a lot of cleanup, but what we were able to do is we came in, we made an offer that ensured that they were going to get, I believe at the time, it was about $25,000 over the payoff. That’s what we were shooting for. And so, we made the offer and we proceeded to get to work. In Washington State, and this may be able to happen in other states, but I’m only specific to Washington state. Basically, if I can get all of the heirs. So that’s any children. If there were no children, it would be any brothers and sisters. So if I can get all of them to sign off on the sale, then a title company will allow that sale to go through and give you a clean title on the other side.
So that’s basically what I did is I worked with the title company and then using our resources we were able to track down all the different heirs, which was pretty extensive. I think we ended up having to get four or five different people to sign off on this sale. And they all also had to agree not to take any proceeds from the sale because typically the way it works is that when a property is sold out of probate, outside the court system, each person that signs off on it gets an equal portion of the sale. Well, the will specifically wanted everything to go to this person. And so, we had to convince them that this is what she wanted and would you please honor that? And they all did. So that worked out pretty well. So basically, we got the properties, we bought the property. We got clean title and we were able to get them… I think when it was all said and done, after all the fees that come out of from a foreclosure, they ended up with $20,000 in their pocket.
And they were within three weeks of the property being auctioned off. And so they were fixing to get nothing essentially from that. So just wanted to kind of go through that process as another thing that I’m good at which is working through these complicated deals because there is a lot of moving parts. And so anyways, next video, I’ll go through another deal and we’ll kind of explain that process there, but okay. Until next time, take care. Thanks.