I have been blogging for awhile on how I love working in the Probate Real Estate niche. Many have joined me and now add Probate Homes to their production. Let me share with you another great income avenue I have been doing in Hot Markets like the one we are currently in where I can sell homes to buyers most agents don't want to work with. Again, thinking outside the box.
I work the Probate Home market and I approach the estates petitioner the week the estate attorney opens the probate case and files the paperwork (Notice to Administer the Estate). When I contact the estate I ask if they are interested in selling the home during probate, which will convert the real estate to cash which will help the estate pay the creditors. This means a faster probate process and back to normal life for the heirs and executor not to mention Cash in the estate bank account.
When there is interest from the estate I bring a buyer to them (Wholesale/investors or End User/Retail) and work up a win/win offer and double end the sale. I give the estate a break on commission (4-6%) depending on the deal, the buyer is able to make an offer and not worry about multiple offers and above asking prices. We can adjust price, terms or whatever it takes to make sure both the estate and buyer has what they need to make the sale work. WITHOUT THE PRESSURE of other offers.
I market for FHA and VA buyers who during hot markets like we have now basically don't have a chance to purchase a home. Most agents are not taking their calls or emails and they are totally frustrated with trying to buy a house. If they connect with the right agent who has a pocket listing they may purchase but in most cases the seller wants the house taken to the market to test for multiple offers. VA/FHA buyers are pretty much out of luck.
With Probate Homes, I'm selling them during probate and the estate has so much to do with their lives turned upside down (executor) that many times they welcome someone coming in and buying the home just to take one more thing off their plate. The executor and heirs are worried about vacant homes (most probates are) and vandalism or deferred maintenance getting worse. They don't want to have the time to deal with the house PLUS if they had the $100K to $400K the house would bring in the bank it helps the estate move through the probate process faster and they can close with the final distribution.
So my point here is my ads are out there which read: "VA/FHA BUYERS WHO NEED CLOSING COSTS CALL US", "VACANT HOMES NOT ON THE MLS LOOKING FOR VA/FHA BUYERS" and these ads bring many calls. We also market to investors (Cash) or conventional buyers as well as most buyers don't want the competition with multiple offers. This works great for us and maybe you have interest in adding this to your marketing.
Contact me at GaryDTeam@GMail.com for my FREE REPORT on what I do with Probates and how there are 5 different ways to earn with them. You can always call me and we can discuss if you are a fit for Probate RE.
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