Real Estate Investor · Chula Vista, CA · Member since 2017 · 2 posts · 0 votes
I recently started looking at probate cases in my local public records and ran into the problem of trying to find which cases had real estate being inherited. Can someone please help me figure out how when I look at a case if there is a potential deal there so I can create a list to mail to these people inheriting their loved ones property. Thank you all who answer!
The form you want to look at is Petition For Probate. On line 3.b) will read "Street address, city and county of decedent's residence at time of death."
Cross reference the address with the decedents name from the tax assessors office. If it's a match keep going to 3.c) "estimated value of the property of the estate." Watch out for I.R.S., FTB and Medicare liens as these will have to be paid.
Then run your numbers.
On the same form (could be page 2) will be Listed in Attachment. This will show all persons who have an interest in the estate property whether there's a will or no will.
The named PR (executor/administrator) will be your first point of contact. You can find their information on the Duties and Liabilities form with address and phone number. And if your lucky an e-mail address.
When you send your letter make sure your sympathetic, compassionate and sincere.
@Kerry Baird I know exactly what you went through. And I also never received a We Buy Houses letter..
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
8y
I have gotten a few probate deals off the MLS. That said, if I were to glean from the legal notices, I'd check the owner's names against the county recorder or tax collector sites in the county in which they lived.
The situation after someone passes away takes some time to unfold, as we experienced in our family recently. It took us 7 months to methodically clear the house, and then put it into service as a rental. We had to make mortgage payments during that time, and had to work on the deceased tax returns...so other things to handle, in addition to the house. It was getting frustrating way before that 7 month mark!
Surprisingly, we didn’t get a single “we buy houses” letter. I’d mail professional letters monthly, over a year.
The form you want to look at is Petition For Probate. On line 3.b) will read "Street address, city and county of decedent's residence at time of death."
Cross reference the address with the decedents name from the tax assessors office. If it's a match keep going to 3.c) "estimated value of the property of the estate." Watch out for I.R.S., FTB and Medicare liens as these will have to be paid.
Then run your numbers.
On the same form (could be page 2) will be Listed in Attachment. This will show all persons who have an interest in the estate property whether there's a will or no will.
The named PR (executor/administrator) will be your first point of contact. You can find their information on the Duties and Liabilities form with address and phone number. And if your lucky an e-mail address.
When you send your letter make sure your sympathetic, compassionate and sincere.
@Kerry Baird I know exactly what you went through. And I also never received a We Buy Houses letter..
Investor · Howey in the Hills, FL · Member since 2013 · 376 posts · 114 votes
8y
Depends on your state. In Florida, you can read through the probate docket and see if there is any real estate involved. Cross reference with the county property appraiser site. There is no easy way to do it. Each attorney files the paperwork differently. It’s even different county by county. Go to your county clerk of court website or whatever you have in your area and dive in. You’ll get faster at it over time, but it is still a labor-intensive process and each file has to be reviewed manually. At least in my area. I’m speaking from experience in Central Florida.