what are the pros and cons of targeting real estate owned by a trust?
I can't think of any pros other than not many people are targeting them (that I know of...)
Cons: More likely to have solid financials, which makes them less likely to need you to "rescue" them
More likely to be professional & educated
More likely to come from a family with decent connections (lawyer, realtor, investment advisor, etc)
More likely the property is in a trust because the family intends to keep it.
Personally, I scrub my probate & expired lists of trusts and LLC-owned properties. I've barked up those trees and have gotten nowhere. Based on my own personal experience, they aren't worth your time. Your mileage may vary.
Normally, people refer to trust sales when the original grantors/trustors/owner's have passed away and are selling the property.
If John Doe created The John Doe Family Trust then later sells the property, that is not what people are normally referring to when they say it is a trust sale. However, when John Doe dies and his daughter Sally Doe, the successor trustee is selling; then it is referring to it as a trust sale.
The trust sale refers to any property where title is held by a trust and the trustee (or successor trustee) of the trust is the seller.
Most trust sales are regular sales. Do not confuse trust sales with Trustee's sales.
When dealing with a trust sale a complete copy of the trust and all amendments needs to be provided to your title company. It is that document that tells you who is the successor trustee(s) the party that has the powers to act on behalf of the trust.
Hope this helps you a little...
(I am not an attorney nor is this legal advise but was involved in my own family probate action)
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