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Real Estate Debate

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Probate real estate investing refers to purchasing property from estates held in probate. When a person dies all of their assets, including real estate, are transferred to probate. Depending on the complexities and circumstances, probate can last between six months to three years. If the decedent has an outstanding mortgage on their real estate holdings, the estate is responsible for making payments. Insurance, taxes and utilities must be paid through the estate, as well as property maintenance. Probate real estate investing provides an option to beneficiaries who are struggling to make ends meet. This is particularly true for estates which are managed by a probate executor who resides out of town. Property maintenance and mortgage payments…show more content…
Records of deeds record land ownership and transactions. Whenever property is transferred or sold, a new deed is recorded. Deed records reveal if the real estate has a mortgage. If so, the estate is required to continue payments throughout the duration of probate. Probate real estate investors quickly learn how to determine if an estate needs to liquidate assets. If the real estate has a second mortgage attached to it, investors typically have a better chance of purchasing property from the estate. Once probate investors compile a list of potential real estate deals, they must make contact with the estate administrator. This can be accomplished by phone, mail or in person. It is imperative that investors be respectful and offer condolences in their initial contact with the executor. Many estate executors are unaware they can liquidate probate real estate holdings. Offering to purchase real estate held in probate could solve their financial problems and provide investors with instant equity in their investment. It is important to note if multiple heirs exist, they must all agree to sell real estate held in probate. In some instances, the estate may be required to obtain permission from the probate judge to sell their real estate…show more content…
Many sellers/buyers that have had bad experiences with amateur real estate agents have the conceptions that all agents are the same. I have compiled this list on the best actions you should perform before hiring any agent. 1.Real estate agents and Realtors are not the same. Realtors are licensed to sell properties by the national association of Realtors (NAR). Realtors also have to sign a list of 17 articles containing the standards of practice they must follow making them slightly more trustworthy than a real estate agent. 2. Ask people in your neighborhood for recommendations, if you have any friends that have recently moved in a new house ask them about their experience with their agent. Client testimonials can be one of the best ways to find out information about your agent. You can also ask your previous real estate agents for referrals, agents usually connect with each other which means that they know which ones are the best in the business. 3. Take your time before you select which agent you want to hire, choosing your agent's in a haste can be a big mistake. Many people make the mistake that when they are looking for fast sale they hire the first real estate agent they can find thinking it would save them some time, this conceptions is very wrong as many real estate agents take months to sell a property. 5. You must also sense
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