It’s not uncommon for a person to leave behind debt when they pass away – in fact, research indicates that almost 75% of Americans have outstanding debt when they die. Though this is usually not considered the responsibility of the decedent’s surviving loved ones, it is still considered a liability of the estate. This means that the debt must be settled from the assets that the person leaves behind – bank balances, home equity, or personal vehicles, for example. If a decedent’s estate includes both debt and property, the property may be sold to satisfy the debt. This can also happen if there is no will directing the distribution of assets.
Read on for answers if you’re wondering, “what is a probate listing?” or want to know how to get probate listings. Find out how real estate investors can access an unlisted probate list and take advantage of these opportunities.
What Are Unlisted Probate Listings?
An unlisted probate listing consists of information that isn’t widely available to the public. When a property enters probate, it is typically indicated in court records, and a real estate agent may eventually be hired to market and sell the home. What happens between these two events, though – or what if the property is sold at auction? In both cases, a probate property likely won’t be listed in popular public real estate forums, but savvy investors may still be able to get the information they need to pursue a lead.
Unlisted probate listings aren’t necessarily a secret, but it still takes extra effort to find this information. If you’re looking for probate listing real estate in hopes of finding a great deal, looking at unlisted probate real estate can put you ahead of competitors.
Where Does Unlisted Information Come From?
Unlisted information comes from many sources, including previous court records, police reports, and property records, but skip tracing is the most common method used to reveal unlisted data. Skip tracing is the practice of locating a property’s owner, finding contact information, and confirming this information.
Investors commonly use this strategy to scope out information about a property of interest, and it can be helpful when pursuing real estate probate properties. Court records often include information about a property entering probate, but they may not provide details about the executor or lawyer representing the estate. Skip tracing can be used to discover this information and move forward with an offer.
Is Unlisted Information Accurate?
If you’ve found a real estate probate listing from an unlisted source, it may include a wealth of information that isn’t available elsewhere. This might initially seem like a goldmine, but you might also be wondering – is this information accurate? Can you rely on data found from unlisted sources? Accuracy is of the utmost importance when you’re pursuing real estate leads, so of course, you’d wonder this.
Like any other information, data included in an unlisted source can’t be guaranteed to be accurate. Still, most users find it just as reliable as the report found elsewhere. If you plan on pursuing a lead that you’ve seen in an unlisted source, you can confirm the accuracy of the data by comparing it to public records. You can do a little research by looking into court records and ensuring that the property in question is slated to be sold through probate.
Can Investors Buy Unlisted Probate Listings?
What is probate in real estate, and can investors buy unlisted properties? Real estate probate offers an incredible opportunity to take advantage of bargain properties while helping families in need. The probate market represents an underserved group, and many sellers are grappling with loss as they try to sell their deceased loved one’s home. The task is often complicated because the house may need extensive repairs. This is a difficult situation, but you can offer a solution by investing in these distressed properties.
In short, yes – investors can buy unlisted probate properties. However, anybody interested in doing so should be aware that a probate sale is considerably more complex than a traditional sale. It will take much longer – possibly even six months or, in some cases, longer – and it will require approval from the court before you can finalize the sale. These steps make a probate property much more difficult to buy, but it’s still worth the effort for many investors.
How Do I Pursue a Lead From Unlisted Information?
You might wonder how to proceed if you’ve found a probate listing on an unlisted source, like a lead generation platform. You should first check to ensure that the property hasn’t been publicly listed elsewhere. If it has, though, don’t worry – you may still be one of the first investors to reach out. If it’s for sale, you should reach out to the real estate agent to get more information and express your interest.
However, if it’s not yet listed for sale, you should review the unlisted entry and find out who the estate’s executor is. This information may be included in the listing, or it may require a little extra digging to find. If you cannot find this information, there may be an attorney representing the estate, and you should seek out their contact information. If all else fails, you can contact the probate court handling the case and ask for this information.
Making the Most of Unlisted Information
Probate properties entice investors with the chance to find bargains and turn a profit. Investors who want to branch out into probate may find it challenging to do so with the information readily available on the web. That’s why it’s essential to seek out unlisted data that can help you get a head start on pursuing leads. A lead generation platform can provide owner information and even information about an estate’s executor. Leverage the power of unlisted information when you’re looking for probate properties.
