Do Your Research in Dealing with Probate Real Estate PropertiesBy
There is a lot of homework that is involved when you are in the middle of dealing with probate real estate properties. The one thing that you need to know is that these proceedings tend to be a matter of public record and many times take place in a courtroom.
This will be an important part of your research for dealing with probate real estate properties.
The person who has recently passed their will becomes part of public record, during the probate proceedings. Do your research properly and you will be able to find the name and address of the executor of the property as well as the address of the probate real estate properties in question.
If in fact the person passed away without a will then you will need to contact the person assigned by the courts to oversee the property. Many times this is a spouse or close family member.
Look over the deed of the probate real estate properties, see if the property was owned or if there was a second mortgage on the property.
Many times if there was a mortgage or even a second mortgage then you will be able to save money on the purchase of the probate real estate properties and as a result will make a substantial savings in the end.
After you have made all of the research that you need to do it will be time to try making contact with the family of the person who passed as you will need to make an offer to buy the probate real estate property and as a result help the executor of the property.
Many times the person is not aware of the fact that hey can sell while probate proceedings are occurring. Make it a point that your intention and make sure that you come across with regret of the person passing.
I’ll share more with you soon…
3rd generation real estate investor