Residential and commercial real estate sales · Crofton, MD · Member since 2015 · 7 posts · 4 votes
Hey guys,
So I've recently been pulling probate files at the county court houses. I've pulled about 200 leads and have began a mailing campaign. I send out a personalized letter to the Personal Representative, and haven't been getting any calls back. Any ideas?
Hey guys - I have worked probates for about 8 years. I love this niche.
You don't know how long the person has been deceased when the executor/ administrator actually opens the probate. It may be as long as 9 months to a year so I start mailing when they file the probate. That is an indication that they are ready to move forward and that is when I start mailing. These folks are ready when they finally get mentally ready to tackle the task.
I only use white computer generated letters. People in this situation are very sensitive so you have to handle them with kid gloves, but it is an extremely lucrative niche.
Mail to them every month until you buy the house, someone else buys the house or they are removed from your list for another reason. Remember that 85% of your deals will come at or beyond the 5th mailing.
The Estate Representative has already been confirmed by the probate court to represent the estate. They're responsibility includes obtaining appraisal of all assets, confirm validity of debts, resolve inheritance issues (if any) etc.,
It's during the closing stage the PR prepares final report and accounting to submit to the court and beneficiaries for approval ~ closing the estate.
So, you should be safe in sending your probate letter of inquiry. What I've just explained is the administration process is already in motion.
This is not legal advise but I have as an heir been through this.
Samuel - You have all the leads online. Just subscribe to Chicago Deal Vault. You have resources there that we would love to have. Reach out to them and ask for a 30 day trial.
It depends on where you live. In some areas the info is online. In other areas it’s in the newspaper. some folks are in areas where they have to go to the courthouse (which should be a last result). You need 4 pieces of information: the name and address of the PR and the deceased.
@Sharon Vornholt Go straight to the attorney's and admin support, network with them, buy their office lunch(depending on the size) etc. Demonstrate your value as a painless option for a grieving and/or family in turmoil over who gets what. Get the leads direct as a referral and you'll close far more deals.
@David Wrenn- I’ve specialized in probates for more than a decade. I’ve never found probate attorneys to be particularly helpful. I agree that you can have that as a side strategy (marketing to probate attorneys), but going straight to the PR will get you deals month after month. We provide a very valuable service to them when they have a distressed property. Pretty houses will be listed.