Monday, September 28, 2015

How to Market To Get Unlimited Probate and Absentee Owner Leads, Real Es...

Sell Your Inherited Denver Probate House in 5 Easy Steps and how?

Image result for royalty free real estate probate imagesHow To Sell Your Inherited Denver Probate House in 5 Easy Steps! By Nick M Evans 

This short guide will include a couple of steps you will need to take to guarantee a quick sale for any probate property in Denver. We will take our time to cover topics such as probate, probate process, preparation of the property, cooperation of inheritors, and the availability of direct buyers. If you have recently acquired a property in the Denver area and you want to sell it, here are a couple of things you should keep in mind.

What is Probate?

A judicial process that will settle the estate of a person who has died, thus resolving the claims and distributing the property under a binding will. It's a service that the Court gives that will confirm the deceased person's will is valid. Once in probate, everyone is able to rely on its legitimacy. The decedent's instructions will be protected by the probate, confirm the person as executor and protect the family members' interest that have claims against the property and protect the executor from lawsuits and claims. Probate essentially means the deceased person's property will be supervised by the court to make sure that everything is done according to the law.

The Denver probate court, oftentimes referred to as the 24TH judicial district, deals with all of the city and county of Denver. The Denver probate court was created by the Colorado Constitution Article VI 9(3) and it defines its jurisdiction. The probate court has exclusive legal power over "all matters of probate, settlements of estates of decedent persons, appointment of guardians, curators and administrators, and settlement of their accounts, the adjudication of the mentally ill, and such other jurisdiction as may be provided by law."

How The Sale of Probate Property Works.

The procedure of administering a decedent's estate is referred to as "probate", and is mostly monitored by the probate court. A personal representative is the individual or entity charged with the obligation of administering a decedent's property. As personal representative you're accountable for gathering the assets and paying the debts of the decedent in such a way that the beneficiaries or heirs receive benefit.

How to Prepare Your Inherited Property For Sale
Selling a house isn't the easiest thing in the world to do. Especially in this kind of market, and especially when you just want to sell and have closure. It is important to properly gear up your property to stand out because of the competition. Only the properties that are under-priced and fully upgraded are moving in the current real estate market, which is abundantly filled with hugely discounted foreclosure and short sale properties, For that reason, the inherited property may stay on the market for quite some time and the sold price may be far less than the asking price. To make your property stand out you will need to be willing to spend a large amount of money upgrading the property. When you must contend with all this, it could take a big chunk of money from your inheritance after the property is sold.

All of these renovations and add-ons can sum up to a huge cost of $30,000 or more. This is a requisite that ensures the movement of the property at full retail value. To ignore this would simply mean that you have to give a discount to the potential buyer.

How to Get Cooperation Amongst all Heirs
Considering the decisions that are needed to be made depending on a wide variety of issues, it is essential that all inheritors be in communication with each other and that all are in agreement regarding what to do with the property. If the property is going to be renovated, who will fund the restoration project and how will the returns of the sale be split? How soon do the heirs want their returns from the sale? It would be a good move to talk to each person first if there are multiple executors involved. You must get approval from all of the executors of the property in order for the sale to be completed.
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How to Sell Your Inherited Property in Less Than 7 Days

If you live in the Denver area and if you are undecided whether to spend a huge sum of money to update the property or you just want to sell your property as is, we can help.

The benefits of selling your probate property to us are that you will:

  • Have a quick sale.
  • You won't have to pay the 5-7% broker fee to sell your property. This means that you will get all the total revenues from the sale.
  • You won't have to spend to renovate the property.
  • You will exchange your property for fast cash.
  • You will no longer be accountable for the liens and property taxes and maintenance cost.

If you are looking to sell an inherited property or a property already in probate we can make you an offer on the house in as little as 24 hours and can close within weeks if you want us to. Find out more How to Sell A Denver Probate Property
For more information on real estate virtual assistant services and real estate support services contact us ,offering a wide range of real estate support services.

Tips on Probate and Real Estate | Mike Bjorkman HomeSmart NCG

To Complete Estate Planning To Protect You, Your Family, Your Kids,and play dominoes

Image result for royalty free real estate probate imagesPlay Dominoes To Complete Estate Planning To Protect You, Your Family, Your Kids By Scott F Barnett J.D., LL.M 


Who thought Dominoes could help us understand how to complete Estate Planning? Remember when we were kids? Dominoes was one of my favorite games. Families could play this together. Kids could play it without the parents around. It is a perennial game that is still popular today. And can help us understand why we need Wills, Powers of Attorney and other legal documents.
Here is my RETIREMENT & ESTATE PLANNING DOMINO THEORY. Think how if you complete Estate Planning it is like those amazingly long strings of Dominoes that people set up.
When you push the first Domino.
> it starts the others on a path falling on to each other, often in a complicated way, 
> causing different events to happen,
> until that last Domino falls and rings a bell; causes some water to spill;, or, crashes a house made of Dominoes. Rather surprising and fun things happen.
Making sure your own complete Estate Planning is in order sort of works the same way. You may not know the Dominoes are already in place; the way your State Legislature and "Common Law" (the rules created by Courts as "precedent" when deciding cases) set them up. Most people are unaware they are even there.
More important for you to know is this. Usually when that last Domino falls, it will not be where you expected it would land. Worse than that, it is not where you want it to fall. People usually DO NOT want the results that come from NOT setting up the Dominoes how they would rather they fall.


Even celebrities leave bad results for their families by not setting up the Dominoes so the last one falls where they would want it to.
Marilyn Monroe - Perhaps One of the Most Famous Actresses ever.
Marilyn Monroe took her life sadly, at age 36. In her will, she left $100,000 in trust to support her mother. She left most of the rest of her estate to her acting teacher, the famous Lee Strasbourg. That is OK, since she made the choice. However, not too long after, the much older Strasbourg also passed away; leaving everything to his third wife. Marilyn Monroe hardly knew her; yet, Strasbourg's widow has made millions off the rights to her pictures and other property rights. Might Marilyn Monroe not have preferred people she knew and cared about would benefit from her estate? Arrangements to assure that were possible if the Dominoes of her assets were set up differently.
Steve McNair - Super Bowl quarterback, 3-time Pro Bowl selection
McNair was killed at the age of 36. McNair, with nearly $20 million in his estate, had not done any estate planning, leaving his heirs with estate taxes and court fees consuming a large portion of his estate. The worse tragedy was this. When alive, McNair purchased a wonderful house for his mother to live in. After his death, his widow kicked her out. Do you think McNair would have wanted that horrible, and avoidable, result?
Diana, Princess of Wales - Affectionately known to us as "Princess Di".
Diana left a proper will that went into effect after her tragic death in an automobile crash. However, she left a separate "Letter of Wishes" asking her Executors to divide certain property between her sons and 17 godchildren; in their discretion. Unfortunately, the Executors only gave those people trinkets, instead of what would have been around 100,000 English pounds each. Directions in her will would have assured Diana's wishes were carried out. Again, a simple change in one Domino could make a tremendous difference to people Princess Di cared about.
In each of those cases; and many others, perhaps in most families, paying attention to how the Dominoes of the property in their lives fall could have better consequences.

WHAT ARE THE DOMINOES I NEED TO PAY ATTENTION TO?Image result for royalty free real estate probate images

Our property is often held in different accounts. There are bank accounts, stock brokerage accounts, IRA's, 401k plans, Life Insurance policies and others. Each of these might be set up very differently. And how they are set up controls who gets the property when we are gone.
Your Will does not control who gets that property. That's right, even though your Will has language about how all your property is to be distributed, it does not control accounts that say something different. And as happened in Marilyn Monroe's case, even the Will may cause results we would not want.
So, each of these items needs attention to make sure what you want to happen is what will happen.
Let's look at some of the Dominoes that need your attention.
Bank Accounts and Stocks and Bonds Accounts: Is it only yours? Then it is governed by your Last Will. If it is in a Joint Account with "rights of survivorship", or an I/T/F account (in trust for) the joint tenants or beneficiary get it no matter what your Last Will says. These are "contractual" terms that are not changed by your Last Will.
Often well intentioned account managers or the people in a bank that help you set up accounts suggest you create an "I/T/F" account. They tell you it avoids probate. It would be a nice way to let your grandchildren know you remembered them by leaving a gift.
All that is true. But they are not aware of the downside. If minor children get a gift, it usually becomes necessary to go through the expense of setting up a Guardianship of their property for them. While they are underage the money cannot be used for their welfare; because the parents have the obligation to support them. The Court will not give the parents' access to their minor children's money to pay for schools and other items that are part of that obligation of support. So, this "gift" to the grandchild cannot be used to benefit them.
If a child with "Special Needs" receives this money, that child may lose rights to Government benefits that help the parents support the child.
The last thing to remember is this. When the child turns the age of majority in that state, they get the money. If that age is 18, would you want that young a person to get that amount of money without any restrictions.
Good planning would be to reset these Dominoes. Either allow the property to go through probate and leave it to a trust for the child's benefit; or, create a trust now so the property is already in place under the terms and conditions you want for the child. There are many flexible provisions possible to make that properly set up account operate better to benefit the child. Those details are for another day.
So, AVOID leaving property in accounts in a way that is not consistent with your Last Will. Alternatives exist so the last Domino lands where you want it to.
Life Insurance Policy Death Benefits: You probably made a Designation of Beneficiary at the time you applied for life insurance or later. It might have been one or two lines in a lengthy paper with lots of choices. That governs who gets the Death Benefits no matter what your Last Will says. [NOTE: There are some exceptions for particular circumstances. But, you should rely on the general rule just mentioned.] Many people often do not remember what they put in those Life Insurance applications. Do you? The policy is a contract and the Life Insurance company must pay out the Death Benefits according to that contract; even if your Last Will directs differently.
So, again the life insurance death benefits are not governed by what you say in your Last Will. If the beneficiary is not who you want it to be, you have to reset that Domino.
Often things change making it important to review the life insurance policy death benefit beneficiary. There may be a divorce from that person; the named beneficiary may have passed; or the beneficiary may have begun bad habits where leaving them the death benefit is not wise after all.
Other Accounts with "Beneficiary Designations" - Many of us have other accounts with "Beneficiary Designations". Our IRA's and 401(k)'s work this way too. So, it is important to review everything we own or have a right to. There are often surprises about how those Dominoes are set up that you want to change.
Real Estate: What is the exact way the deed reads that you were given when you bought real estate? Sometimes we are surprised by what we find. For example, I have had clients who, because of some confusion, find one spouse is on the deed, but the other isn't. At the same time, the spouse NOT on the deed is ON the mortgage. Or even vice versa. Making sure this Domino is set like you want it often requires a title search. Your real estate lawyer or title company can usually take care of this pretty easily.
Real Estate needs specific attention. Even if the "title" (the name of the person or entity that owns the property) is correct; other problems might exist that should be cleaned up. Someone may have filed a "lien" (a paper put on the public records that says there is money owed; and, before the real estate can be sold or a new mortgage given on it that old debt needs to be paid).
Often unpaid Real Estate property taxes owed show up. The Internal Revenue Service may have filed a lien for back income taxes.
All sorts of rights to file a lien exist. It can't be done unless there is a real reason. If a "lien" is filed when there is not right to do it, the person that did it would become responsible for a "Slander of Title". Then they would pay damages like if they slandered an individual's good name.
In all events, ownership of Real Estate properties should be reviewed to make sure those Dominoes are set up as you expect and want them to be.
Business Interests: Stock of closely held corporations or professional associations, interests in closely held limited liability companies and partnerships are often set up wrong; if there is even any identification at all of who the owners are. Things may be fine on bank accounts or other things needed to do business; but, if the proper identification of a stock or interest owner is not made, there can be confusion if there is a death or incapacity; or even a sale of the company or its assets. Also, many of these interests are subject to agreements like Stock Holder and Buy-Sell Agreements; which govern what happens if the stock or interest owner dies. That may cause a surprise at a very sensitive time. So, care is needed to make sure that kind of paperwork reads the way you want it to.
This is all not as hard as it looks or seems. If you keep good records, it will be very easy. Most everything else is fairly easy to find; or repair if it is done wrong.


We have been talking about taking care of others. But Dominoes need to be put in place so those you want to take care of you have the legal authority they need to do that. Circumstances can happen if the Dominoes fall on you in a way that you need that help.
While you may be very efficient to make sure you have the proper "title" to everything you own; if you cannot deal with the property for some reason, that is a real problem. It is not unusual for folks to be unexpectedly hurt in a car accident; have a heart attack; or a stroke. Any condition that makes us unconscious creates this problem.
Assume, for discussions sake (No one likes to think about these possibilities; but we have to) one of these situations happens. You are unconscious and it is time to roll over a Certificate of Deposit to get a new higher rate. But, you cannot get to the bank to do it and it is titled only in your name (even if it is I/T/F for someone if we lose you). Who will be able to do the rollover? The bank will only deal with you. There is no one else with authority. So, the Certificate of Deposit stays at the same lower rate.
Think about your stocks and bonds and mutual funds. You are in this condition and there is a "Sell" recommendation. Only you can order the sale. If the stock is not sold, you lose money on the expected drop in value. Or there is a "Buy" on something you cannot take advantage of; so that is a real opportunity cost.
Image result for royalty free real estate probate imagesThe frustrating thing for lawyers is that these problems can be avoided by one pretty simple document; a Durable Power of Attorney. A Durable Power of Attorney lets you choose someone you prefer to manage your accounts if you cannot. Why a "Durable" Power of Attorney. Well, powers of attorney have been around for hundreds of years. They name someone as a mere "agent". That means they can show up for you; but, if there are any questions, you can be called to give directions. If you are unconscious and are not able to give the direction; then the "agency" fails. It is not "durable". So, in modern times, legislatures came up with the "Durable Power of Attorney"; which means the agency still works even if you were, in fact, unconscious. Of course, the agent is only allowed to do things in your best interest. (Some do not, so be careful who you name.) This is a very valuable and critical Domino everyone should have in place.
What About Instructions to the Doctors? - Financial matters are not the only thing that needs attention when this kind of emergency happens.
If you are unconscious, giving doctors informed consent to medical procedures cannot happen. Here we mean those medical procedures to keep you alive and are designed to get you well. You need to make a Health Care Surrogate Designation. That names ("designates") the person with the legal authority to give consent when needed. This is critical if you do not have a spouse the doctors will listen to.
The Living Will only deals with "letting you go" if there is no way you will or could recover from a terminal condition. If that is what you would want, but cannot give the doctors those instructions, you want someone you trust named who can. Most of us will remember the tragedy of Terry Schaivo; and the national crisis created because she did not have a written Living Will. He husband testified being let go in her condition was what she wanted and she told him that. But everyone from her parents to the Majority Leader of the U.S. Senate (a doctor diagnosing without ever having visited her as a patient) said he was lying. In the end, the Courts allowed her to pass and an autopsy proved she would never have recovered from her condition. If she only signed that one document; the Living Will, her last days would have been spent in dignity with the care she wanted.
What happens if these Dominoes are Not Set Up? - The law provides a stop gap set if Dominoes fall into disarray because we have NOT set them up like we want.
This is Guardianship. If the conditions described above happen and you have not "reset" the Dominoes in the ways suggested, the following happens. Someone has to file a Petition for Guardianship and to Appoint a Guardian in a proper Court. The Judge sends someone (often a committee) to examine you to see if you are in a condition where he should declare you "Incapacitated" under the law. That means your rights to take care of yourself are taken away from you. At the same time people can be asking for an appointment as your Legal Guardian. That person takes over your life and financial rights subject to the control of the Judge.
Guardianship proceedings are an avoidable horror that makes a bad situation worse; and can usually be avoided. They are costly. What the Court can authorize has nothing to do with modern society. It is demeaning. Worst of all; family disputes about if you should be declared "Incapacitated" and who should be your Guardian are among the most terrible that can occur. And it all happens while you are in another room with no way to say what you want for yourself.
The law creates the Guardianship alternative to protect the person who is the subject of the proceeding. That is a good thing. But most of us do not really need that protection; if we set up the Dominoes of our life and property to avoid it.
Single People; especially Young Ones Need to Set Up the Dominoes Correctly. With so much divorce, women outliving their husbands for many years, and young people attaining some means or waiting longer to marry; making proper arrangements for if we cannot take care of ourselves is critical in our society.
I recently asked a young, single, man what would happen if he became unconscious and the doctors needed instructions or his consent. "I guess my biological parents would be the ones who can tell them what do to?", he answered. Well, he is right. Under the law his parents would have that right. However, before that can happen, they have to file a Petition for Guardianship and to Appoint a Guardian to get clear legal authority from a Judge to do what everyone would expect they can do.
This is a situation where common sense does not prevail. Every one of us needs to have these simple documents completed so our care happens more easily. We can avoid the costs, administrative limitations and headaches, and indignities of a Guardianship proceeding with a few simple documents.


Kids are also involved in the Dominoes of your planning -
Even if they don't know yet quite how to play the game well.
Nothing is more important for a parent than to know they assured the welfare of their children. That welfare may be needed if, God forbid, your minor are left alone in the world. What will happen to them? Who will take care of them; have authority to get them their shots and into school?
Image result for royalty free real estate probate imagesThere are laws that deal with this. Ultimately, someone can step in also in this situation and Petition the Court to Name a Guardian for the child. Until the Court makes that appointment, the State child welfare people may step in and put your children into foster care until a decision is made. So, it is important that the Court can quickly name a Guardian.
But what if the Judge does not know who the Guardian of your children should be? What if more than one of your relatives wants to be the Guardian? The statutes created by the Legislature of your state list who has the priority right to be named. Of course, the Judge decides if that person could be a Guardian; but, not necessarily the best Guardian.
That means the Judge might not appoint who you think would be the best Guardian for your children. What can you do? Well, it's easy enough.
The Domino needed here is your Last Will. One of the purposes of having a Last Will is to "nominate" the people who you believe would be the Guardians of your children. This is the way the law makes available for you to tell the Judge (remember that you are no longer around to tell the Judge yourself) who you want as and believe is the best person or people to serve as Guardians of your children.
And the Judge will "listen" to your wishes. The law says the people you nominate in your Last Will (or other qualifying document) have the highest priority to be named as Guardians of your children.
Now, the Judge is not required to blindly pick the person you nominate in your Last Will. What is in the "best interests of the child" is always the overriding standard and rule in all this. That means if the person you nominated has since had a change of situation making them unsuitable, the Court could pass over them. If you wrote your Last Will long before your nominee developed a substance abuse problem; the Court can override your nomination. Then the statutory lists of preferences kick in again. However, a Court is hard pressed not to name who you nominate unless there is some very strong objection such that naming that person is clearly NOT in the "best interests of the child."
Image result for royalty free real estate probate imagesThe result of all this? One of the most important Dominoes you want to make sure lands where you choose, is the Last Will with your nomination for who would be the Guardian of your children. In another blog post we will go through how to pick who you nominate for the Court to appoint. We will also, in another post, go over the best ways to leave money for your minor children. Most people would not want their kids to get a lot of money when they become the age of majority (when they are a legal adult in the eyes of the law; which is 18 years old in Florida). Watch for those posts in the coming weeks.


Going to a qualified lawyer is always the best choice. They know what questions to ask you and how to figure out solutions to complications that may come up. While there are some decent "do your own" alternatives, using them is too likely going to have you miss something. Or since it is complicated for you, although not so much for an experienced lawyer who deals with this all the time, you can too easily do something wrong; or get impatient and leave it undone. The expense of getting your Dominoes set up so the last one falls where you want is far less than the costs of not doing it when an emergency happens. If you do not have a complex situation with a lot of different accounts, business interests and real estate holdings I think $500 - $1,000 is a good guess of the probable legal bills. Of course, the more there is to do the more the lawyer charges.
Review all this at least every 2-3 years. Babies are born. People pass away. There are divorces which certainly changes what you now want. All sorts of changes happen over time that affect the results of how we set up our Dominoes in the past. What was a good arrangement before might not be what you want anymore.
I assure you, after having experienced, for more than 40 years as a lawyer, client emergencies when the Dominoes WERE set up right and those where the Dominoes WERE NOT set up right; it is a bargain for you and your family to have things prepared properly and correctly no matter what the cost. What is the price of avoiding worse heartbreak when your world is already falling around you?
The positive side is this. Given the complications that can happen, knowing that the Dominoes of your life are set up to avoid the horrors that can happen if they are not, can provide great Peace of Mind. You will know you have done all you can for yourself and your family. As important, you know the people you want and trust are in the wings to take care of your personal matters if you cannot.
In other words, you rest easy because you are in control and know everything and everyone will fall into place like you want.

  For free sample probate leads with real estate, visit One can ask request for free samples of obituaries with real estate, inherited leads, eviction records, absentee landlords data, code violations filings, foreclosures listing, new home owner data and others data by visiting

Friday, September 25, 2015

How to Wholesale Real Estate Step by Step - Exactly What To Do

Working of a Real Estate Virtual Assistant with 3 Tips

3 Tips to Working With a Real Estate Virtual Assistant By Rebekah Zobel Jones

    For some, the world of Virtual Assistance can be confusing. If you have never worked with a Virtual Assistant before, you may be unsure just how this all works. You might be used to an assistant who comes in to the office every morning, makes the coffee, sorts the mail, answers phones, and generally makes herself useful in many ways. If you have a task that needs completing, you take a few steps from your office and hand it in to your assistant. If this is what you are used to, then welcome to the world of Real Estate Virtual Assistants! Working with a Real Estate Virtual Assistant, or REVA, can be similar, but is always so much more rewarding. Here are three tips to keep in mind when starting a business relationship with a Real Estate Virtual Assistant.
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1) Mentality
    The first thing to remember is that your Real Estate Virtual Assistant is an independent business owner and as such is much more of a colleague than an employee. She has a wealth of information and experience at her finger tips. Don't be afraid to ask questions and answer those she asks you. You may be surprised at the suggestions she offers!

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2) Communication
     Be sure to keep in contact with your Real Estate Virtual Assistant. She may ask that you to connect with her on a short phone call once a week. This is an ideal way to keep you both informed. These calls do not have to be very long, but are excellent ways to quickly touch base and go over the plans for the week. For regular communication, email is a preferred method - though fax and snail-mail also work in some instances. Be sure that no matter how your REVA contacts you, you respond in some way. If you keep open lines of communication between you and your Real Estate Virtual Assistant, you will be amazed at what takes place!

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3) Feedback

    This is so essential in any good working relationship. If you are pleased with what your Real Estate Virtual Assistant is doing, let her know! This encouragement can go a long way. By sincerely complimenting her on what she has produced for you, you are helping her recognize her value to you and make her more willing to tackle those difficult projects. The reverse is also true. If you are unhappy with what your REVA has done, let her know in a kindly way. Her desire is to produce work that you are happy with. Again, this is all part of keeping the lines of communication open. Make sure you are on the same page - feedback is vital to this relationship!

    While these tips may seem like common sense, putting them into practice can really boost your relationship with your Real Estate Virtual Assistant. By being free to ask questions & offer suggestions, both of you will enjoy greater success. Spend a few moments now listening to what your REVA is telling you. You will be thrilled at the results! And now I would like to invite you to claim your Free Instant Access to my mini-guide,

For more information on real estate virtual assistant services and real estate support services contact us ,offering a wide range of real estate support services.


Thursday, September 24, 2015

Video 1 of 3 - Turn $10 Into $10,000 in 30 Days with Real Estate

How to Find Probate Homes

Probate Real Estate - How to Find Probate Homes By Gary DiGrazia Sr

Image result for royalty free for real estate probate imagesBefore we dive into this, I want to caution you not to try to analyze the complete probate process. It will only impede your progress as a Probate Agent. Just try to understand how to find the properties, and as you do your research, you will become more familiar with the probate system. I still learn something new with every probate real estate transaction I buy, sell, or list. You will earn as you learn. Try to keep this in perspective.
When I first started tracking probates, I targeted an area, which included 4 cities, about 8 square miles, and a population of about 400,000. I had been selling properties in this area for the previous 14 years, so I knew the prices. I advise you to start in an area you know; otherwise, on top of working this new system, you will also have to educate yourself on the property values in order to determine the right prices to pay for your client. Stay in your area of expertise to start.
You will have two choices to start your tracking. The first option is what I did for the first 8 years, which worked perfectly. The second option is what I do today, because I don't target now and work the entire county. The choice is yours.
Monday through Friday, my local paper publishes legal notices, including Notices to Administer the Estate. These notices are our starting point. These notices are usually printed in the classified, local, or sports section next to the Notices of Trustee Sales that you all are probably aware of. If you can't locate the notices, call the county probate office and ask where the notices are published for your area. They are usually published in the paper in the area where the property is located, but for now, you will have plenty to work on. There may also be a legal newspaper in your County that publishes Notices to Administer the Estate; call your county probate clerk's office to ask about this. The county requires the Notice to Administer the Estate to be published in a newspaper of general circulation. This is how the word is given out so creditors can make their claims against the estate.
Image result for royalty free for real estate probate imagesThe Notice to Administer the Estate is placed in the paper by the estate's attorney (para-legal) or petitioner (executor) on three separate days. Each week day cut out the Notices to Administer the Estate in your paper and examines them. Only cut out the notices for that particular day, so you don't duplicate in following weeks. Now, let's look at the information you will need to extract from the notices to start your property search. (My new 2010 updated Probate Real Estate tracking system is online now).
When you look at the Notice to Administer the Estate there will be a name listed at the top. This is the person who passed away. The name is the first piece of information we will use to start our research. We will run an In Tax Search, checking the tax assessor's rolls, either online (MLS) or on microfiche to see if the person did in fact own any real estate in our target area. As an agent you should be able to run a Tax Search through your MLS. Note: If the deceased used any AKAs (meaning "also known as"-aliases, maiden names, etc), they will also be listed here. This is important because the deceased may own several real estate properties in our target area under another name.
This is the court number assigned to this case and our reference number when we go to the courthouse. The location of the court where the file is located is also indicated in this number. In a probate, the attorney establishes a file at the courthouse where all documents related to the probate proceeding will be kept and tracked as the probate progresses. Probate Agents must know where to find these files.
In the Notice to Administer the Estate the court case number is preceded by a letter (H) which indicates this file will be stored in the Hayward courthouse file room (my area). The other sample starts with the number 2, which tells me this file will be kept at the Oakland courthouse file room. You will need to know your County codes to determine courthouse locations if you have more than one courthouse to track. Just call your local county probate department or court file room and ask how the case files are assigned at each court of interest. These files are public information and anyone can review them. In the files, you will find all-important information relating to this particular probate real estate. In my tracking court house locations (Hayward/Oakland) the court files are now preceded by RP00. Since I go directly to each of the courthouses each week, it's not a big deal.
If you are using your local newspaper, most of the Notices to Administer the Estate will be located at your local courthouse. When I first started I traveled between the Hayward and Oakland courthouses, but I spent most of my researching time in Hayward, about 3 miles from my office. Living close by is not necessary, however; you can work any area you wish. The important factor is how knowledgeable you are about the area prices. As an agent you should be on top of this through your MLS.
Image result for royalty free for real estate probate imagesThis gives you a idea of how I start my tracking in Probate Real Estate. As a Probate Agentthis will be part of what you do each week as you track new probates which have real estate. For my DF students we set up their courthouse the same way although there could be some adjustments in the way the files are accessed and the way they are referenced. This is part of the reason I love being a Probate Agentas most agents and investors won't do this extra work to find the properties. Now in 2010 this is all automated as most courthouses are online but we still go to the courthouses each week which are not online and do our research. It takes me about 1 hour per court house plus driving time to keep up with the new files from 3 court houses in 2 different counties where I track probates. This gives me on average 100 new probate real estate properties each month to work.
Thank you for all the comments and emails on my Probate Real Estate system and also on those of you who want to become involved with my Probate Investor or Agent Training. I am giving back to my industry what it has gstry what it has g

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Why Probates Are a Great Source of Real Estate Deals

Why Probates Are a Great Source of Real Estate Deals By Dave Dinkel

    Wills must be probated through the court system for the legal heirs to be determined. The beneficiaries of these wills generally sell the properties rather than keep them. Because of this, probates offer real estate investors excellent sources of motivated sellers.

Image result for royalty free for real estate probate images    The typical probate must be entered into the court system by an attorney. Some individuals have properties in multiple states and countries and each of these jurisdictions will likely need a probate completed on the estate in order to sell its assets. Uncontested wills can take 3 - 6 months or less to probate while contested wills can take years. Especially with larger estates, properties must be sold to pay Federal and State estate taxes or penalties, and interest can eat up the remaining assets.

    Most children of elderly or ill parents opt to get a quitclaim deed from their parents before they pass. However, they often wait until the parent passes to record this deed. The problem is that the buyer of these properties will have to get a probate done to get clear title to the property. Sometimes relatives, who expected they should get the property or part of it, take legal action to secure their interest.

   Once the court has adjudicated that specific individuals or entities are legally entitled to the assets of the estate, these assets can be sold and the funds distributed to the heirs. If the will is still in probate, the court may receive the proceeds of the sale to pay for the expenses of the court and the attorneys involved and to make distributions from the court system.

Image result for royalty free for real estate probate images   For investors, the challenge of finding probate properties is two-fold. First, the probates must be found in the public records and the court filings. Not every probate has a property as an asset so the ones with real estate must be sorted out. Often homesteaded properties are free and clear of any mortgages but sometimes they are upside down and in foreclosure or have a reverse mortgage in place. These mortgage situations present special problems that may not be able to be cured.

   Secondly, the beneficiaries are often distraught about the family member's passing and live out-of-the area. Because of this they want a swift resolution to selling the property, however, they tend to overvalue the property because of possible offers they had in the past or because of a local realtor trying to sell them a listing by over-evaluating the property.

Image result for royalty free for real estate probate images   The best way to approach these heirs is to use an ongoing campaign of letters, postcards, and an occasional telephone call. Somewhere in this stream of continuing contacts with them, they should be sent a local market analysis explaining the reason for the amount of your offer for the property. While some of the beneficiaries will want to list their properties, most will not because of the condition and work needed to clean out the years of accumulated "stuff."

   When the sellers get motivated the price they will be receiving will be much less important than the solution to getting rid of the property. Often, the way to get the seller to agree to a low-enough price so an investor can make money re-selling it, is to offer to clean out the property completely after the closing.

  All the seller has to do is make one last trip to the property and take out any and all personal or other items they want. All the rest will be donated to a worthy charity or taken to the dump. The seller should also be reassured that he or she can do the actual closing remotely. This means without having to come back to the city where the property is--from your attorney to a local attorney where the heir lives.

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How To Profit From Probate Real Estate

How to Get Started in Real Estate Wholesaling

How to Get Started in Real Estate Wholesaling

By Duncan Wierman

     One of the best opportunities in today in real estate is wholesaling. It's a great opportunity because it allows investors to build an income with little or no capital and credit. Wholesaling is when a middleman puts a property under contract and assigns / resells it to a buyer. The wholesaler then makes a profit based on how much the property was on contract for and how much it was sold for.
Image result for royalty free for real estate probate imagesSo how do you get started wholesaling real estate? The first step of the process is getting set up. You'll need to put together your team. Find a good REO realtor, Birddogs, inspector, escrow company, loan officer, and attorney. Every state has different laws when it comes to real estate so getting in touch with your local Real Estate Investor Association (REIA) is a good idea to help you out and tap into everything you need in order to make things move smoothly when you get a deal set up.

    The next step is to start building your buyer's list. Most beginners make the mistake of trying to look for motivated sellers but it's a better idea to find investors first. The reason why it's better to find buyers first is because you can get an idea of what they are looking for and when you do find a great property, you can move it quickly. There are many wholesalers that find the right property but cannot get it sold. The owner of the property usually moves on to somebody that can help sell the property.

     In order to build a buyer's list, you have to go where the buyers are. Post an ad looking for investors in classified sites like Craigslist. You may even want to run some Google or Facebook display ads to start building your list. Another great way is to network with people in the real estate industry by going to club meetings, seminars, and events.

Image result for royalty free for real estate probate images    Even better, you can go to local foreclosure auctions and network with the people there. There are many investors and homebuyers in the crowd so you are bound to make a lot of connections by talking to people. Remember that your job there is to add value rather than try to sell them on something. Keep in mind that everyone there is attending for the sole reason of finding a great deal.

    The next step is to actually find the properties. There are many ways to get great deals on properties. The first way I would suggest is to look for properties from probate estate. Talk to the owners to see if you can take the duty of helping them sell their property so they can get cash they need quick to pay estate taxes.
Other opportunities include bank owned properties. You may even try going to real estate auctions to see what's available. Remember that some of these methods will involve an some research and time to establish yourself. You have to figure out what is involved and educate yourself so you know what to do.

    The final step is to set up a marketing system. At the end of the day, this is a real business and you should treat it as such. After your first deal or after you get a few deals finished, you should set up systems so that you can find more properties and increase your chances of selling the properties you have on hand.
Image result for royalty free for real estate probate images
For example, you may want to create a marketing campaign to target probate attornies, or personal representative. You may even want to setup a birddog team, and teach them how to find you the type of deals you are looking for. You may want to do a targeted geographic Facebook Advert. You can also regularly contact your buyer's list to let them know about the latest properties.

   A final tip is that you should be in charge of everything. It's your responsibility to understand all legal matters, handle the business and marketing processed and making sure everybody on your team knows how to interact and when. The whole purpose of being a wholesaler is to be the middleman so you need to be the one getting everything moving smoothly.

   Real estate wholesaling is the perfect way to get your foot in the door in real estate investing because you don't have to invest a lot of money to get started. There is less risk compared to other real estate investing strategies. A lot of wholesaling is all about being prepared, doing your research, and connecting the right people. If you've always wanted to get into real estate, this is the strategy you should do first if you have limited time or money, and don't want any risk. It's one of the best ways to raise cash quickly and get real world experience.

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