Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304
Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304. Probate leads are potential seller clients who inherited properties they often want to sell quickly after going through the probate process (the legal process of transferring the assets of a deceased person to heirs). Since many heirs live out of state, or are otherwise not prepared to maintain the property, they often look to sell quickly.
While probate leads are great, in order to be truly successful, you need to access as many leads as possible. I personally go through all the Probate files daily to find the best leads that fit my business. Not a difficult task at all. For most new real estate investors, locating, pitching and closing probate leads sounds right up there with root canal, as a way to spend an afternoon. you may even think probate investors are like ambulance chasing lawyers, expect they actually chase the hearse.
The last thing you want to do is bother a grieving widow to make a buck. So probate investing is just not worth it. That is until you start reading about the jaw dropping deals many investors who specialize in probate leads are puling in. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.
Like most great real estate lead generation strategies, the hardest part is getting started. That’s why we put together this guide. In this article we’ll tell you everything you need to know to start locating, pitching and closing probate properties the right way. No hearse chasing required.
Why Probate Leads & Probate Properties
When it comes to real estate investing, lead generation is always a road block for new investors. They may have the cash, they may have the knowledge, they may have a great contractor, but when it come to actually finding leads, most new investors are at a loss. How on earth do you manage to buy properties for less than they’ve really worth? That answer is very surprisingly simple. Probates sell below market value more often than any other lead source.
In order to buy probate properties or any property for below market value, one of 4 basic conditions must be met. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.
- The owner should want or need to sell the property quickly (motivated seller)
- The owner should live out of state and not have the time, energy, or money to maintain the property
- If they’re not in or close to the foreclosure process, the owner shouldn’t be underwater on their mortgage
- The owner shouldn’t need the home as their primary residence
While pre-foreclosures and short sales meet the first condition and absentee owners the second two, probate leads often meet all (3) conditions. For example, someone who unexpectedly inherits a home from a deceased relative is often unprepared for the financial burden of owning and maintaining a second home, often lives out of state and rarely needs the home as a primary residence. Even better, since the mortgages of deceased people are often paid off, they own the property free and clear. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.
As a local Dallas, Texas real estate investor, you may be able to help a family that lost a loved one move on with their life by buying their property ‘as-is’. If the home needs work, dealing with costly and burdensome repairs just after losing a loved one is a pain that most wold prefer to avoid. For some, a quick, no hassle sale, even at a significant discount to market value, is worth the trade off. If done properly, this is a win-win for both seller and cash buyer investor. ‘They don’t want the house, they just want the money in the house’.
Starting to make sense yet? Let’s look at how to track down probate leads on your own.
5 Best Way to Find Probate Leads
Now that you have a better idea of the probate opportunities available to you, let’s go over the best ways to find probate leads. Depending on what state and county you live in, these strategies work in all 50 states.
- Locate and search your local probate listings… depending on what area you’re planning on investing in, probates may be listed in the local newspaper, on the internet, or you may have to go to the court to pull the records yourself. If you want to start investing in probates, you’re going to want to get leads early in the probate process.
- If you want to see if your county lists probates online right now, you can always check the Public Records Center Website which list counties who have online probate or other court records. If your county has the probate records online, then you will generally need to know the name of the deceased in order to search for the records. A good place to find out the name of the deceased is to check the local obituaries. An obituary can also sometimes give you clues to the status of the deceased property. From there, you need to figure out id they owned property. Since new probates happen every day in some counties, once you’ve figured out the process for your county, you’ll want to periodically check for updates and new probates.
- Call or visit your local court…if your county doesn’t list probates online, then your next step is to call or head down to your local probate court and speak with the clerk. Depending on your county, you may be able to get a list of all probates or you may have ti dig a little deeper. You also might to pay a small fee for photocopying.
- Build working relationships with Local Estate Planning or Probate Attorney’s…Another great way to get probate leads is to befriend local probate or estate planning attorney who handles a large volume of probates in your county. While public records are great, getting the inside scoop is even better. Real Estate professionals should seek to establish a good working relationship with local estate planning and probate attorneys. The attorneys who prepare wills, trust and handle probate and trust administration. This group of attorneys who has the capability of connecting clients and estates tot he real estate professionals.
Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304
While many probate attorneys will have established relationships with local real estate agents or investors , you never know. Maybe their favorite agent or investor just retired. maybe their agent or investor is on vacation for a month and they desperately need someone to buy or list a hot property. Worst case scenario, you get your name out there as a local real estate investor.
As with all real estate lead generation, there are services that allow you to save time and headaches of lead generation for a price. In the world of probate investing, there are a quite a few companies that offer probate leads without the legwork. here’s a quick rundown of two of the most popular probate lead services. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.
When someone passes away, there are tow main reasons their assets get distributed. If they have a will, the executor of the will distributes the assets to the heirs named in the will. If they die without w will (intestate), then the court decides how to settle the estate and distribute their assets. In some states, if the executor is female, they are called an executrix. Other states simply use the term personal representative.
Sine the executor is in charge of settling the decedent’s estate, that means they are also responsible for settling any debts the decedent may have. Even if the decedent passed away debt free, a will may dictate that cash or other assets need to be distributed evenly among heirs. Sometimes, that means selling the decedent’s property to settle debts or distribute cash or assets evenly among the heirs.
Often, executors names in a will had a personal or close relationship with the decedent. That means that they are likely going through a grieving process themselves, or under pressure effort, and money it takes to get top dollar for the decedent’s property.
While the process is different from state to state or as in some cases, county to county. The goal here is to get in touch with the executor. Direct mail is one of the best ways to pitch executors or beneficiaries of an estate.