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Buying inherited property

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  • Buying inherited property

    hi -
    I am supposed to close on a mortgage in NY and my lawyer found that the property deed didn't transfer to the living heir before they listed the house and signed our P&S contract. The seller's attorney is supposed to have gone to probate court to straighten it out, and my lawyer says it may take a week for the court to act.

    Questions: Is this time frame correct or will probate take longer, am I being strung along, is this negligence on the part of the seller's attorney (I've sold cars and made sure I got the title first). My lawyer hesitated at these questions I suspect out of professional courtesy to the other lawyer so I'm soliciting unbiased comments.

    My lock-in rate with the bank is about to expire. The closing date on the P&S was three weeks ago.

  • #2
    Re: Buying inherited property

    It could be done in a week. Demand a date as soon or as late as you wish, and if it not done by then you are free to withdraw with all fees returned to you.


    • #3
      That's why you need title insurance too. Even when lawyers are involved. The title company won't let those things happen and if it does you'll be insured.


      • #4
        I also recently inherited my grandmother's house in Canada, but I don't want to live there. I always dreamed of moving to live in Singapore, and a friend recently showed me this fantastic housing. I'm just shocked at how fast the houses are being built there. I think it's the best city on earth. I think I have enough money if I sell my grandmother's house. But while I'm doing all the paperwork on the inheritance and thinking about hiring a lawyer. I live in the US and don't know the law of Canada. In any case, the house will be sold within a year, and I don't want to live there.


        • #5
          Originally posted by Lisa45 View Post
          I also recently inherited my grandmother's house in Canada


          • #6
            I think houses in Canada are expensive enough to buy a good apartment in Singapore. I also find this country very attractive. I recently saw what a chic pasir ris 8complex is being built there. Take a look, maybe you'll like it, it looks like a great option. I hope the company I work for will open a representative office in Singapore and I'll be transferred there! But if you have the opportunity and desire to move, I think you should do it. And while you're selling your house, you can give a deposit for such an apartment. I know that people buy houses there quickly.


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