What are Probate Leads?
Probate is the period following a person’s death, where their assets are liquidated in order to satisfy outstanding debts. Probate leads often come in a list form, providing the details necessary for real estate agents and real estate investors to make contact and purchase the recently-deceased person’s home.
What Makes Probate Leads so Attractive?
Probate leads are an invaluable asset to real estate agents and real estate investors because state governments want to sell homes quickly in order to fulfill the deceased person’s outstanding debts. This desire to sell assets quickly means real estate is often offered for a fraction of the true market worth, creating fantastic value for the buyer.
Probate leads are extremely useful for real estate agents or real estate investors because of the cheaper valuations, but also because it gives them a chance to find new homes for sale in desirable areas, creating an opportunity to get ahead of the curve and maximize the value of attractive real estate in the local area.
Buying a probate property does require a certain number of legal requirements, however, the bureaucracy is a small price to pay for a chance to create substantial profits.
Sourcing Probate Leads
Good quality leads can be the backbone of an extremely profitable real estate business, whether you’re an agent or an investor, but how do you source probate leads?
Armed with the right knowledge, it is possible to get the leads from your local courthouse. They are available from county courthouses or other local government buildings that store official documents, however, you need to know what you are asking for before approaching. Typically, the information required is not available in one record. A courthouse will have a list of probate leads, but information about the address and administrators assigned with the task of liquidating the house needs to be sourced separately.
In some counties, government websites will offer information about houses in probate in the local area. Also, probate leads can be sourced from local newspapers. It is not uncommon for a newspaper to include probate estate administration notices, giving real estate agents and real estate investors a simple solution to compiling a marketable list of value-rich properties.
Image courtesy Tim Snell and Flickr