5 Tips for Finding Real Estate Probate Leads

For the majority of budding real estate investors, finding, pitching, and clinching probate leads ranks up there with a colonoscopy, as one way of spending an afternoon. You’d be forgiven for thinking probate investors are ambulance chasing attorneys – except that they chase hearses.

You don’t want to upset a sobbing widow while seeking to make a few bucks, so perhaps probate investing isn’t worth it. Well, that’s until you discover about astonishing deals made by investors who pursue probate deals.

Similar to most big real estate lead generation plans, the most difficult step is getting started. For this reason, we’ve compiled this guide to educate you on all things you must know about closing probate real estate deals like keeping tabs on the obituaries and how to get probate leads from a courthouse.

1. Monitor the obituaries

The above statement might seem to contradict the last sentence on ambulance chasing to acquire clients. But keeping tabs on the obituaries helps in gathering information on recently deceased persons and their heirs.

Public records avail real estate and contact information of respective heirs.

Keep in mind that the real estate field is highly competitive particularly in the area of probate sales owing to investor perception that properties come on the cheap. The more information you gather before your competitors, the more of an edge you’ve over them. Once the grieving and sense of loss subside, you can then propose a viable deal.

2. Call on the probate courts

Probate court cases are public records. Approach the court clerk with the aim of creating a system that allows you to scrutinize court documents combing for cases with the residence as an asset.

Look for not only property information but court documents to assess the estate’s financial status and possible heirs. Supposing you uncover the home is tied in debt that requires prompt attention, you can persuade the survivors into a sale sooner.

Also, in the absence of heirs, the estate’s executor may want to close a deal sooner rather than later – more so if the home is free of significant debts.

3. Newspaper probate classifieds

Some newspaper editions provide details of probate auctions and sales. Visit the local library and peruse some newspapers. Also, check for online listings.

Just like for other techniques of obtaining leads, carry out due diligence on all properties you intend to make an offer or before showing up at an auction.

4. Buy online leads

Lead aggregators peddle probate properties leads. These aggregators make use of a blend of information requests, and public information like probate court filings and newspaper listings.

You must understand that aggregators that utilize public information do similar work to what you can accomplish on your own but charge a pretty penny for the service.

You must determine whether such a business expense is worth the returns by saving you precious time and energy.

5. Power collaborations with estate planning lawyers

Probate and estate planning attorney should rank highly in your contact list. Usually, they have information on listed properties and also make decisions on selling.

Such partnerships place you the investor in a situation where leads trickle down to you. The probate attorney may call you to assess the investment opportunity of an estate as he also looks into its financial status.

Forging such relationships calls for more than making a few calls and presenting yourself. Display your professionalism. Grasp the workings of the current market by adequately assessing a home’s condition and value and setting realistic expectations about the potential deal.