Probate leads represent the very best and most lucrative residential real estate-related lead source available today. This is why real estate professionals clamor to secure well-vetted, probate leads. Below you’ll learn exactly why such leads are so popular and potentially profitable for investors who can leverage their knowledge of the probate process with their customer service skills.
Owners are often motivated to sell: Often times owners of probate properties do not wish to be responsible for taking care of the property they have been left with. This can lead to them selling the property at a lower price than they might do so under ordinary circumstances. Additionally, people who are left with probate properties know that they will eventually be saddled with the taxes on the property. These things can put you in an excellent position as an agent and investor.
Probate owners are often in a weaker bargaining position: In some cases probate properties need lots of work to be done on them. This is because older people sometimes defer repairs on their homes as they age. Ultimately, this means that the buyer is in a position to purchase the property at a better price.
They are excellent for “flipping.” If the repair costs are not too great, then probate properties can often be fixed and sold for a profit. A word of warning here: Sometimes a probate property can require such excessive improvements that it is not worth the investment in time and money to repair. Thus, the savvy investor should be very careful when assessing the condition of the property in question.
Both the state and creditors are usually interested in liquidating real estate assets as quickly as possible: This can provide you with a bonanza as a real estate investor.
How to Find Probate Leads
Many professionals start with the obituaries. The problem with using this as a source is that any real estate professional worth his or her salt knows this is where many people start. Thus, it is very hard to find fresh leads that many others have not already gone over. You can also use legal notices as a source to find probate leads. The problem with this method is that you may have to do some cold calling and quite a bit of work to make your efforts pay off. Ultimately, the best way to find qualified probate leads is through a trusted website. All the Leads, vets its probate real estate leads and gives you the knowledge you need to make the most of them.