When an owner of a property dies, the property is transferred to the rightful heir through the legal probate process. Sometimes the heirs want to sell the property quickly after inheriting it because they do not want to maintain it or they could be from out of town.

Research has shown that most of the probates sell their property at prices lower than market prices than any other lead source out there. This is why many investors in the real estate industry are in search of probate leads.

Many investors in the real estate industry face challenges trying to get probate leads. Most investors have the money and knowledge needed to invest but are not able to pull in great probate leads. This is why investors need to know the best sources of probate leads available out there.

For probate lead to wanting to sell below market value then; they will mostly be living out of state, they do not need the home as the primary residence, they will want to sell the property quickly, and the mortgages are paid for in full therefore they own the property clean and clear. This, therefore, means that they have nothing to regret when they sell the property below market value.

Sources Of Probate Leads

There are several ways in which one can get probate leads. Here are some of the best ways to do this.

From The Probate Court – Probate courts are by far a good option for finding leads. At the courts, those seeking for leads can get a list of all the probate cases. Sometimes a small fee for photocopying the papers may be incurred by the person seeking the leads. In other courts, they have an online directory that allows people to search for leads online.

However to search the online directories the name of the deceased will be required. This can be found from the local obituaries. On the obituaries is also other important information that will help to get the lead. Most of the obituaries will mention who the deceased is survived with for instance a spouse or the children.

Building Relationships with Probate Attorneys and Local Estate Planning Professionals – Probate attorneys help families to prepare wills, trusts and they handle the probate process. Having a relationship with such attorneys will provide a wealth of information to the lead seekers.

Buying Leads Online– Probate leads can also be acquired online. It is by far the best source of probate leads. There are many service providers that will go through the process of lead generation and present all the required information to the lead seekers at a fee. This takes away the hassle of getting leads from the lead seeker allowing them to focus on other things.

Local Probate Listings- Probate listings can be published in local newspapers or online. At times it may require one to go to the courts to pull them out. Getting into a probate process early enough is an advantage when looking for such leads.

 It also saves a lot of time for the investor, especially where leads are not available online. A good probate lead bought online should have the name of the deceased, the name of the executor, the probate attorney, and the address of the deceased. Some of the service providers to consider online include US Probate Leads and REDX amongst others.

Benefits Of Investing In Probates

Large Inventory- While there are 13,000 monthly estate properties there are about 6 million properties in probate. Some may think that in probate there are only single family homes. However, there is a variety one can choose from, from condominiums to motels to commercial real estate opportunities.

Motivated Sellers- The probate’s market has motivated sellers, enabling them to sell quickly. Most of the properties are left with trustees with their own homes so they can sell their contents within a short time to pay debts. Sellers who do not rely on probate real estate agents to sell their properties are likely to be vulnerable when trying to reach the buyers market.

Moreover, it’s always in the best interest of the seller to hire real estate sale professionals to liquidate assets such as cars and jewelry. The professional sets the highest possible price to start off a sale. If there are multiple parties involved, the professional serves as a liaison between the parties, that is, family members, probate lawyers and real estate agents.

Purchasing Probate Leads

One can purchase probate leads from the estate’s executor or the probate sale in court. When someone dies, there are two main ways their property is distributed. If they have a will, the executor will distribute the property according to the will. However, if they did not have a will, the courts decide on how to distribute the assets.