Why do investors target probate homes?
- Properties in probate are perfect for investors, because they’re possibly in need of serious updates and repairs, and the Personal Representative doesn’t have the time or money to spend making it ready to sell on the retail market, making it lucrative for real estate investors to buy these homes below the market value.
- A Personal Representative cannot sell estate property without either an order permitting the sale or an order determining homestead status of real property.
• Real Estate Investors – probate leads represent the very best residential real estate-related lead source available today. Within 4-6 months of the probate filing, 40% of the properties found will be sold.
- Realtors will find that many of the residential properties in probate will be listed within the first year after the filing.
- Wide Range Of Properties – Commercial, Acreage, Duplexes, Condominiums, Apartment buildings, Strip malls, Office buildings, Ranchland, Farms. These are not rundown foreclosures, bankruptcies, or condemned properties that are complex deals and need costly repairs. These can be beautiful homes with no mortgage or debt attached, making them some of the cleanest and easiest of all real estate to buy low and sell high quickly.