Finally closed on this probate deal that was supposed to close back in October. Heres the break down. Got it on contract around Aug 2010 for $17k. Had people interested but price was too high. So we cancelled the contract with the attorney whom was controlling the estate. We told him none of our partners thought it was a good price for that area of town. A week later the attorney contacted us back and asked what was a good price. We told him $12k. He agreed but then had to get it approved by the courts which took two months because this particular attorney was running for some type of office position during the elections. Needless to say we had a cash buyer lined up for $16k already. Well the cash buyer waited and we finally closed on Dec 13, 2010 profitting $4k.
Profits were to be split of course. Just in time for Christmas. You gotta love it!!!