A Case Study from One West Hard Money
Recently, a local attorney reached out to One West for assistance in helping a client purchase a new home. The client, a widow, was looking to downsize and start fresh by purchasing a newly remodeled home in the area where she grew up. However, her credit had been denied and her biggest asset, a 50% interest in her deceased husband’s estate, was tied up in a probate case.
The home she inherited from her husband was too large for her needs and required costly deferred repairs, which she did not have the funds to cover. Additionally, the home was full of debris and not safe for public viewing. The attorney was also overseeing the probate case of her husband’s estate, which required court approval before the proceeds could be disbursed to the client and her husband’s two children from a previous marriage.
To help the client, One West assisted in assigning her 50% interest in the estate to the company, allowing them to lend her the money needed to purchase her new home. They also provided funding for the seller to clean out and make the inherited home safe for sale. One West acted as a liaison between the various professionals involved in the transaction, such as the title, legal, insurance, and real estate professionals.
Once the probate case was closed and the estate was settled, the One West private money loan was repaid, the inherited home was sold, and the client was able to move into her new home with no further loan obligations. This allowed the client to move on and start her new life in a freshly remodeled home in her hometown, without the burden of her deceased husband’s estate.
One West’s ability to assist with assigning the client’s interest in the estate and providing the necessary funding for the sale of the inherited home allowed the client to move forward with her plans without the added stress and delays caused by the probate process.
Additionally, One West’s assistance in coordinating communication between the various professionals involved in the transaction, such as the title, legal, insurance, and real estate professionals, streamlined the process and ensured that everything was handled efficiently and effectively.
The client was able to purchase her new home in a timely manner and was able to focus on settling into her new life, rather than being bogged down by the complexities of probate and the sale of her inherited home. One West’s assistance in this situation was invaluable and helped the client achieve her goal of downsizing and starting fresh in her hometown.
Overall, One West’s assistance in this situation not only helped the client achieve her goals but also made the process as smooth and stress-free as possible. Their expertise in navigating the complexities of probate and real estate transactions was crucial in helping the client move forward and start her new life.