Where to find info to market for houses in probate

Question

Where should I look besides mailing to probate attorneys to find people that have houses in probate?

Blake Copeland · Answer

Unfortunately some states are easier than others when dealing with probate cases. I think what you really want to pay attention to in California is to look into the decedents will to see if there is a provision included which directs that the estate be administered under the "Independent Administration of Estates Act" otherwise known as >CA Probate Code 9640<.

I have talked to attorneys about this, and basically it allows the PR to have an independent administration of the estate which basically means NO court supervision... This is a great thing for investors because it eliminates the need for you to make your way through the hurdles of court approval which can delay the process a lot.

As for finding the real estate Arnold is correct. This will be found on the county tax rolls. Basically with probates you are looking for a few key things which are:

1.An Independent Administration. ((with a will on file))
2. Deceased Name & If they owned real estate.
3. The PR's name and mailing address.

With those 3 things you can send your letters out. If you had to add another criteria you might also want to mail letters to the other heirs as well. Mailing to the attorney is not a requirement at all in my opinion.

Once "Letters testamentary" are issued then the bank accounts and assets will be "unfrozen" so to speak. Without the court appointing a PR you are basically at a stand still. With "Determination of Heirs" cases it is usually an ongoing battle because there is no will on file.. don't waste your time with these estates OR Dependent administrations either.

Hope some of that helps. It's a great niche to be in, because it takes EFFORT to track down the leads which many aren't willing to put forward in most cases, so the competition stays pretty low in most markets. The leads are going to outpace foreclsures by A LOT over the next decade so I'd say it's a pretty good time to become an expert at this right now.

Peter Giardini · Answer

In many states it is a requirement for the estate to "advertise" that the estate is going through probate and to identify the executor of the estate. 
                    
                    In Maryland, the task of finding the executor is as simple as going to an online paper (Daily Record) where you will find dozens of announcements regarding who has been named the executor of the estate.  From there it is just a matter of writing a letter.
                    
                    One word of caution... many executors are close family members and they don't view a letter from an investor in very postive terms.  You should prepare yourself to receive both nasty letters and phone calls.  
                    
                    One the other hand, you can also expect that some people understand that you may be in a position to help and will welcome your participation.

This approach works... I have done some great, very easy deals, and one of my clients is now using the approach with great success.

Melford-Concetta Bibens · Answer

Paul you said "With our Court Records they show if there was a Property attached to the estate. "
Are you referring to Florida? So I get the records from the court house they'll say if there was property?
We are new to Florida and loking forward to getting our probate investment business off the ground, so any info would be greatly appreciated!

Melford & Concetta

Paul Kestenbaum · Answer

With our Court Records they show if there was a Property attached to the estate.
I bought the J.G. Banks Probate Course for $300.
Well worth the price...not the 6k he used to charge for the same info.....they even had a payment plan for 6 months.   You already have most of the info. you need, from right here on BP.....just mail to the Heirs, & see what happens....

William G. · Answer

Bring a dozen donuts with you every time you go down to the probate court.  Treat the people working behind the counter like they're your friends.

Most people who work in courts spend their days to getting yelled at. They'll love you. Pretty soon you'll be getting phone calls when they come across a property you'd like.

Mike Solima · Answer

The properties in the probate proceedings are generally not listed... if I get it right, most of it are confidential. Not all lawyers are willing to divulge the information considering that it is within the "lawyer-client" confidential matters.

Rita Temple · Answer

Well, heres an update with finding probates.  I walked in to the probate court and sat down at the computer kiosk with a list of case files.  Found the attorney's info and beficiaries, but no summary list that shows if there is real estate or not!  So, I'm just going to have to mail out to all of them. Oh well!  Thats just how Cali. works!

Brian French · Answer

Nope, you don't have to go to the probate court. "Using" a friend in the probate office is a bad idea. (you will get them in trouble).

Vectori Disuja · Answer

Hi 
I don’t have so much idea regarding this subject. Just I suggest you to take steps accordingly.

Jason Hanson · Answer

Rich is right......you are going to have to go down to the court house to get probabe information. This is very time consuming so I would hire this out as soon as I could.

Where to find info to market for houses in probate

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