LandInvestors.com Forums **Ask A Question** Did I send my deal to escrow too early????

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    Corey Jackson
    Participant
    Post count: 8

    Howdy,

    I received a signed PA the other day. The signature had a small note under it saying that the owner was deceased and that the person responding is the daughter of the deceased. The daughter didn’t leave any contact info to reach her. I did due diligence on the property and realized that this is a VERY good deal. I signed the PA and also included a letter asking the daughter to contact me with my contact info on the letter and overnighted the letter on 6/3/21.

    In the meantime I went ahead and sent the signed PA to an attorney and started escrow. The letter was delivered on 6/4/21 and I still haven’t heard anything from the daughter as of 6/8/21.

    The attorney got back with me today and told me that the Mother conveyed the property to her Revocable Living Trust and left the daughter who signed the PA as the successor trustee.(So we are good there lol)

    All of that to ask this, do you guys think I sent it to escrow to quick? Should I have waited until the daughter contacted me? Or would you guys have done the same thing I did?

    I got with a realtor ,that was recommended, and he told me what he thought the property would sell for quickly. It would be a gross profit of $130k.

    Thanks,
    Corey Jackson

    Let me know

    Corey "Co Jack" Jackson

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  • Kevin Farrell
    Moderator
    Post count: 2093

    Corey – This sounds good so far. These almost never work out this well. Having the daughter as trustee on the trust is perfect. Sounds like a great deal.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 60 minute call - https://calendly.com/kevin-629

    Corey Jackson
    Participant
    Post count: 8

    Thanks for the response Kevin. It definitely gives me peace of mind knowing you think it sounds good. Hopefully we will have made contact with the daughter once it’s time for the deal to close. My attorney did let me know they will need the death certificate for the mother. So fingers crossed!

    Corey "Co Jack" Jackson

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