probates

[Alex Morales]

Does anyone know where is the best place to get probate leads?

[Robert Davidson]

Hi Alex. The answer is both simple and complex. The court rules depend on which state you are in and to some extent which county. Probates are under the jurisdiction of the county Superior Court. You don't have to learn probate law, at least not in detail. But, you do need a working knowledge of the process when an estate is handled under the Independent Administration of Estates Act (much preferred) vs. public bidding in open court in front of the judge. Also, you need to know the probate documents the heirs have to sign (in addition to the normal Purchase and Sale agreement.) In California, in almost all counties you have to go to the county Superior Court record's department and request the files. Note: this is NOT the county Recorder's office. Online court records, by state law, only list very basic info such as decedent's name and file number. You have to write down the file number and then go to the court records office to view the file. Two ways to do this. One, many counties have what they call a "Probate Bucket" that they keep out on a table or you can request it to view the latest rolling five day's filings. Most counties limit the number of files you can view per day, often five or ten. The other way is to get a list of file numbers from the court online list and then request those files in person. Again, some counties restrict the number of file requests per day and/or make you come back the next day to view the files. Also, you have no way of knowing if the decedent owned any real estate (many do not) without actually reading the file. The number of heirs, joint owners, and the location of the Personal Representative can add a lot of complexity. This is not a quick, easy investment method. It's work and it's expensive (gas, drive time, having to return the next day, possibly paying someone to go the court for you, direct mail costs, follow-up, etc.) Your biggest competition will be realtors who establish relationships with probate attorneys who then refer them to the Personal Representative as soon as the probate is filed and maybe a few days before. Also, don't believe the gurus who claim that all heirs want to sell the house quickly and will take a big discount just to get rid of it. A few do, many don't. Again, this is work.