What are probate properties, how do I find them and are they a good deal?
A simple answer about probate and what probate is:
Probate is the court action that occurs when someone who dies either doesn't have a will or a trust or, there's a dispute within the will, usually by the beneficiaries Those who are set to receive money or property through the wheel
How do I find probate properties for flipping?
There is a process to finding probate properties it's not a quick and easy process, it takes time. I have a lot of experience with this process. The first step is to go to the county recorder's office and access their computer system. Within this system, you will find access to probates. The search is based on either a probate number that has been assigned to that probate case or a date.
I usually go and access the system a “period of time” search. When that search comes up, a number of different probate cases show up. I then go through each probate case and search for real property that is listed as an asset of that probate disclosure. After I find a real property asset like a house, I write down the information on a legal pad (because they don't want you to use your cell phone in the computer area). The information that's important to me is the following :
The attorney info, name, address, phone number, email
The property address, Assessor Parcel Number (APN)
The beneficiary info, names, and address
The administrator or trustor’s name and address
Once you obtain the information on the property in question or the home that you're interested in researching the next step is to find out who owns it according to the county records this is where your Title Insurance Company their customer service department property property information you need to contact the attorney's office and find out if this property is going to be going up for sale.
I recommend contacting the beneficiaries administrator attorney all those that are involved essentially the court-appointed administrator Is usually the one that has the power, However: all action is taken by the court the court is all-powerful. At some point, this property will go for sale it may or it may not be listed with a realtor if it is it will be listed through the court and sold through the court.
For more information about finding probate property or looking at a fixer in your neighborhood contact me today. I'd be happy to help you with the process Wherever You Are in the United States.