Many home buyers and investors are looking to buy probate property. This is property that is often owned by family members after a loved one has passed away and they are looking to sell the property quickly. This makes this kind of property attractive to some buyers because of the opportunity to get a home under market value.
Why Would Estate Owners Want To Sell Probate Property Fast?
It is very common for family members who have been Willed property to be living out of state or otherwise have a situation that makes their managing and trying to sell a property difficult. In addition, they are often grieving the loss of a loved one. This all puts them in a position where they really want to sell the property as fast as possible. For this reason, they are often willing to sell the property under market value.
The Hardest Problem With Getting Started With Probate Leads?
All investors enjoy making money, but many investors don’t enjoy the process of locating potential investments. This is certainly true when it comes to finding probate leads. While making money is appealing, the idea of finding family members that are still in grief from the loss of their loved one and trying to negotiate a good deal on a piece of property doesn’t seem appealing to the average person.
The thing that new investors need to understand is that there is a great opportunity to profit significantly while at the same time helping these families. They very often have real problems that include not knowing how to sell the property and not wanting to have to deal with it. Many of them, because they’re out of state or in conveniently-located, can’t easily manage the property and they don’t have the funds to maintain it and so they just want the problem gone.
This means that investors can come in and while making a handsome profit for themselves, provide a genuine service to those who have been left the property by their deceased loved one. It can be a win-win situation when done right. There is no reason to feel awkward or bad about making a profit especially when it’s done while helping these people with their particular problem.
Why Are These Type Of Property Sales So Attractive?
The best probate leads are those where the owner needs or wants to sell the property as fast as possible. It might be because they live out of state and don’t have the inclination or the time to manage or maintain the property. Often these properties are free and clear, or the majority of their mortgage is paid and it is not underwater or upside down and that means that the price can be substantially negotiated. The property is not where the owner lives and therefore selling it is the best option for them.
These factors all come together to make the potential investment particularly good. The investor is able to make a substantial profit while at the same time providing a genuine service to the seller by allowing the sale to happen quickly. The seller can be unburdened by a property that is difficult for them to maintain and the investor can purchase a home that they are able to profit from.
Four Best Ways To Find Probate Leads
- County Courthouse
The oldest and most traditional way to locate fresh probate leads is to go to the local courthouse in an area where you would like to purchase a home and look for those that are in Probate. You can even begin to develop a relationship with someone that works there and overseas probate filings so that they can keep you informed. Routinely going to several different County courthouses and looking through the public records as well as maintaining relationships with those who work in the courthouses are among the best ways to regularly find probate leads.
- Establish Relationships With Probate Attorneys And Other Professionals
It may seem awkward at first but one of the best things that an investor can do to ensure they get the most updated information on probate filings is to establish relationships with people and professionals that are in the industry. This means building relationships with probate attorneys and other professionals in the areas where you want to purchase and invest in homes that are in Probate.
It will take some time and effort but once these relationships are developed they will pay again and again. Very often real estate agents, attorneys, and other professionals that are in charge of probate properties are looking for buyers of those properties and if they know that you’re someone that can handle the purchase professionally, they will call you not only out of courtesy but because it helps them and their client. As difficult as it may be in the beginning to initiate these relationships, it will be well worth the effort.
- View Public Records Online
Many public records are readily available online. This makes reviewing them easy and convenient. Not all counties will have their public records available online but many of them do. Another way to locate probate leads is to check the obituaries. Seeing who has recently passed away and then checking to see if they have any property that has gone into probate is an effective way of finding these types of properties before they are officially listed.
- Purchase Leads
One of the fastest ways to get probate leads is to simply buy them. A quick search online can bring back a list of probate leads sellers. Buying these leads online often saves an investor a significant amount of time and that makes it worth the price.
Buying leads can cost anywhere from $2 to $4 a lead on average depending on the package you buy. It will usually require buying at least 25 leads and the more you buy the less it will cost. If the area you want to buy has the public records readily available online, it might not be necessary to buy but is otherwise a convenient way to get the leads you need.