Understanding Probate Investing

October 18, 2011 in Probates/ Probate Investing

 

Probate investing is one of my favorite and most lucrative real estate strategies. But there are still a lot of real estate investors that find it hard to understand. They also find it kind of “creepy”. Personally I have found that this group of motivated sellers is grateful for your help and easy to work with in most cases.

 

Why are these sellers more motivated?

When an executor finds himself with an estate to settle that has property, it will need to be sold before the estate can be closed out. And in so many cases, the house has been neglected or is just terribly out of date. It’s not going to be easy to list this type of property on the MLS for a retail price. The executor is faced with a property that needs work that the estate is rarely in the position to do. Even if there is money that could be used for repairs, they usually don’t want to do them. It’s not their house. They just want this problem and the work that goes along with it to be gone so they can get on with life. Some of these folks can be very motivated sellers right from the beginning.

 

How soon do they usually want to sell the property?

The answer to this question varies greatly. Read the rest of this entry →