When a property goes into probate it means that it’s owner has passed away and their survivors are trying to prove the Will in a court of law and they often need to sell the property. Investors who understand the process of probate are in the position to go in and help those family members while also making a profit for themselves.
Steps to Achieve Probate Success
1. Research For Probate Leads
As an investor, it will be necessary for you to find properties that are in Probate on a regular basis. The only way to do this is to have a research process for resolving your query where to find probate data – so that you can regularly find new leads. This would usually mean going to the county courthouse and asking one of the clerks to help in getting the records on everyone who has recently submitted a property to be probated.
This part of the process is often the least liked but it will require that a serious investor go at least once a week to three or four different County courthouses to research for new leads. It will usually be necessary to set aside a few hours to get this accomplished. The good news is that because many investors don’t like doing it or don’t understand probate you’re in a good position to take advantage of this method.
2. Write Probate Letter
Once you have put together a number of leads you will need to prepare a letter to send to each one of them. The best way to do this is to prepare a template that is used over and over again. This will allow you to insert the individual personalized information but leave the rest of the template untouched. Having such a template is the fastest and easiest way and it also allows you to see the results that you’re getting. If you’re not getting the response that you want then you can change the template but once you’re getting a good response rate then you should leave the template as it is.
3. Be Polite And To The Point
The letter should state just the fact that you have become aware that they have a property in Probate and you should name the county where it is filed and the address of the property. This lets them know that you’re someone who is knowledgeable and genuine. You will want to recognize their loss by offering your condolences. Most people will appreciate candor and genuineness.
Most people with a property in Probate have two problems. First, they have just lost a loved one. The second problem is the fact that their property is in Probate and if they are required to sell the property they may not have the time or skills to do so. You can make it clear that you can help.
4. First Conversations
Those who call in response to the letter are usually motivated and want your help. But because this is your first conversation they may still remain a bit skeptical and it is therefore recommended that you get right to the point. Let them know that you buy properties in the area and you may be able to work out something with them that is good for both them and you. Then it is simply a matter of setting an appointment to meet with them and to look over the property. Get in touch here to know more.