Losing a loved one is a tender time for a family. Uncomfortable emotions, challenging tasks, and unforeseen responsibilities easily dominate a morning family’s waking moments.   

Families are vulnerable to accepting “help” that isn’t in their best interest.   

When someone passes away there are tons of vultures out there that have become ambulance chasers who have taken a quick real estate class by some guru that teaches how to get into real estate selling contracts and one of the best ways to do that is to wholesale probate properties.   

I know this because that is how I got started in this industry. I got the tools I needed to “help” families dealing with inherited properties so we would “Buy” the property and get the people out of the problem. 

We weren’t buying the property in actuality we were getting their property under contract of one price then assigning the contract to another buyer for a higher price and taking the difference between the two prices. 

I think there are many problems with this model of business but my main issue was that I had a hammer(“BUY the property) and everyone’s problems were nails (“buy” the property). With an inherited property it is a complicated situation and that cannot be the only solution.   

Some people need help with estate sales, some need a coach to help them decide what to do with the stuff, and others are grieving and need to take extremely small baby steps through the journey. My point is that people need a toolbox full of tools to use for the specific situation. That is what I have created and perfected over the last 5 years.   

In most cases they tell the heirs of the house they are buying the house when in reality they are not. They are selling the house/contract for a profit.   

This is lying and there are a number of ways they play shadow games with the owners. This is deceitful and not something Kansas City Legacy Properties will participate in. When we do give cash offers we buy the property for the amount we agree upon and in the time on the contract. CLICK HERE to learn more about what we do. 

There are wholesalers that say they are going to give so much money for the house and they have the heirs sign a contract with a bunch of wording that is vague and sounds ok but can get over looked and cause the seller some real problems.   

First thing is the price they give a price to the heirs and get a contract, if they were wrong on their estimates of repairs and the price the house could sell for and they cannot find someone to assign the contract to they will come back to the seller and beat down the heirs negotiating the price using the contract as leverage. Holding it up from being able to be sold to another party. 

They put words in the contract that say this contract is assignable, the buyer may bring in a funding partner or end buyer, or no recourse against the buyers. These wordings allow the wholesaler to assign the contract and not be in trouble if they don’t close. Most don’t put any earnest money down when they get the contract and we recommend if you go with a wholesaler make them put an non-refundable deposit down. That is a step toward getting the full amount for your loved one's property.   

When they write the contract length terms they put in things like this contract closes in 30 business day, this contract automatically renews, they put a date like 6 months out and tell the heirs that it is just precautions if there is a problem with title but they will close way faster than that. All of these things lock the property up so the seller/heirs cannot actually sell the property and the wholesalers know this and use it as leverage to get a better deal. In some cases, they get made to feel like the bad guy.   

We can tell you the verbiage to have them remove, the terms that should be made in your favor, and how to spot traps. We are not lawyer and not playing one we are just experienced real estate professionals. 

Why would you be telling us all of this?   

That is a great question. I believe that many heirs take these offers because it seems like the easy option. In someways it is but that is because you don’t know there is a company that can do everything for you.   

Kansas City Legacy properties can make this a painless process and on top of that you will know that you are going to get the top dollar for the property. You say but there are expenses for your services and paying realtor fees. We have been doing this for long enough that by clearing out the property and listing it on the market and getting the most amount of eyes on the property you will come out way ahead of where you would with a wholesaler or if an Ugly House person where to get there hands on it and sell it to another buyer.   

You probably have more questions and want to have a longer conversation give us a call at 816-307-7163. “Because your inheritance should be a blessing and not a burden”