How to Find and Sell Probate Property
A probate property is going through the probate process once the owner passes away. During this time, the deceased’s will is looked at and verified by a probate judge. When the will is deemed valid, the property can be distributed according to the surviving family and how they see fit.
Buying Probate Properties
- Create your investment team. You need a real estate agent, a financier and real estate professional.
- Discover probate properties by talking to an agent. Let them know exactly what you are looking for. They will scan their listings and pull properties that meet the criteria.
- Go through the obituaries in the local newspaper. Make a list of names of everyone that has passed and check the local property ownership records to see if the deceased owned real estate in the area.
- Go to the local courthouse and look through the probate records. Write notes about the properties that you are interested in. Pay attention to the name of the will’s executor and their contact information. Call and see if the property will be put up for sale.
- Go to the estate sales. You may be able to talk to the family or the will's executor about purchasing the property.
Selling Probate Properties
- Fix the properties you bought by cleaning it up, updating and repairing major problems.
- Let your real estate agent market the property for you. They will focus on the pricing of the property, staging it, placing ads and conducting open houses.
- Perform adjustments to the price to encourage a quick sale.