I am going to answer some of my most frequently asked questions about Probate Real Estate investing.
One that gets asked almost once each week is ...
"Will I have to deal with Attorneys if I am buying Probate properties?" Absolutely not! While we all know attorneys play an important role in our society, they can often be intimidating for the average person to deal with, especially when it comes to Probate.
In reality, the person you need to be communicating with is called the Personal Representative, and you need to deal with him or her directly.
Once you have located their address and contacted them, all further negotiations are between you and the Personal Representative.
That is why this process works for the average person.
You don't need to be able to match the negotiation skills that many attorneys have developed.
Really, it's just like talking to your next door neighbor.
The Personal Representatives have inherited a house they don't want, don't really have the time to devote to selling this property, and in many cases, are willing to negotiate a deal at less than full market value in order to get a quick sale.
All you have to do is come up with a price that is fair to them and fair to you.
That is why this system can work so well for the average person like you and me.
There are no special skills required.
However, in all fairness, I don't want to insult your intelligence and imply that all estates will accept your offer.
It just doesn't work that way.
Some people are willing to go through the long and drawn out process of selling their property through conventional means.
That's OK ...
They are not prospects for you, and they will tell you so very quickly.
In those instances, you thank them politely for their time and move on to the next file.
You are just looking for the folks who want to sell the house quickly and get on with their lives.
What you want to do is pick up one of these deals every month or two and you will be a happy, happy investor.