Traditionally, agents and investors seek the newest real estate probate leads and the timeliness of them are mission critical. My hard-won experience, however, has shown that it is not helpful to think in terms of freshness. Everyone has varying time frames when they are motivated to sell the probate, trust or inherited property. Older probate leads can be even more responsive and in fact, many real estate professionals prefer an older list of probate filings. Why?
The reality is, every situation is different and there are different circumstances that trigger the motivation to sell. When it comes to Probate Investing – some people want to sell yesterday. Wouldn't it be nice if every family was just waiting for your phone call? If only it was that easy, but we know it is not.
In many other cases, the Personal Representative and heirs need time to grieve and address many other issues, before they are ready to pull the trigger and sell the estate home. One daunting task they face is disposing of their loved one's items and other (non-real property) assets, a subject to be broached gently and cautiously.
Contact someone today and they may not be ready to sell, but contact the same person a few months down the road and the timing is better to liquidate the real estate portion of the estate. In other cases, a living spouse has a hard time making ends meet with the lost household income or maybe they want to get closer to the kids. In still other instances, the probate process needs time to play out and the property reverts to the heirs.
There are myriad underlying circumstances and there certainly is no crystal ball at our disposal. But we can glean a couple certainties.
Probate Process For Investors/Agents
One, when the family decides to sell the probated, inherited or trust property, they want it sold quick. Secondly, they are most likely to work with someone that has had multiple “touch points” with them, holding their hand every step of the way. Repetition has always been a cardinal rule of marketing but is even more important in this niche given the unique time frames to sell.
The length of the probate process varies on myriad factors such as the complexity of the estate and intent of the parties – every case is different. Sometimes these deals seem to fall in your lap, as if the PR was waiting for your call. If only it was that easy in every case.
I've only scratched the surface here. Be sure to get dialed into any of my other posts that covers every aspect of getting your message out to Personal Representatives, trustees, heirs, fiduciaries and attorneys tasked with bring the estate closer to final settlement. For a fresher or if your an investor just getting started in probate real estate investing please check out this post: ====>>>Probate Investing 101<<<====