Lawyer or petitioner of wholesaling probates

Lawyer or petitioner of wholesaling probates

Member since 2018 · 65 posts · 25 votes

Hey, Guys! Any input would be helpful. I'm currently calling a list of leads for probate. A few people have mentioned that they've already received like 5 other calls from others trying to buy the property, so I'm trying to find a way to stand out from the crowd and convince them to sell to me. When they first answer the call and I confirm it is the petitioner and in a nutshell I say, "Hi, my name is Pete, and I'm a real estate investor. My partner and I were looking through the internet and, unfortunately, we saw that you filed for probate. You have my deepest condolences. What we typically do for people in your situation is help them by taking the property of their hands and give them immediate cash in the bank to use for whatever you like (I sometimes give examples like dream vacation, new car, etc..)" Then I ask them what their plans are for the property.

I'm a sales based guy (work at AT&T) so I have some experience there. I mainly need to do hundreds if not thousands of calls to really get used to it and find way to negotiate better, but any advice would be helpful! 


I also would like to know how I can incentivize lawyers to push for my "very generous offer". Sometimes I can't get a hold of the petitioner and so the lawyers is the only other person I can use to reach them. Let me know what you guys think! Thanks in advance!

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  • Attorney · Chicagoland · Member since 2019 · 103 posts · 90 votes
    6y

    @Peter Shafik You probably can’t incentivize lawyers because our goals are at odds with yours as a wholesaler. Lawyers want to get the highest and best to maximize value and minimize liability and you want to get the best profits you can.

    If you’re not a professional realtor or attorney, in many jurisdictions you can solicit the heirs and legatees directly. That’s probably your best bet, avoiding a direct conversation with a lawyer about the issue and just motivating the client. Think of it like advertising prescription drugs, if you’re selling something that’s an awkward ask, it’s best to advertise direct to consumer rather than targeting the doctors.

  • Member since 2018 · 65 posts · 25 votes
    6y
    Originally posted by @Justin Abdilla:

    @Peter Shafik You probably can’t incentivize lawyers because our goals are at odds with yours as a wholesaler. Lawyers want to get the highest and best to maximize value and minimize liability and you want to get the best profits you can.

    If you’re not a professional realtor or attorney, in many jurisdictions you can solicit the heirs and legatees directly. That’s probably your best bet, avoiding a direct conversation with a lawyer about the issue and just motivating the client. Think of it like advertising prescription drugs, if you’re selling something that’s an awkward ask, it’s best to advertise direct to consumer rather than targeting the doctors.

     That's really good to know. Thank you! In the event I can't find the client's number using skiptracer, I guess my only option would be to contact the lawyer. It may not be ideal, but it would be the only way I could reach my client without using a very expensive skip tracer. Thanks!

  • Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
    6y

    @Peter Shafik You will probably turn more attorneys away trying to offer something. We don't want the risk of taking payment for something that could be illegal or improper. If you want to get in good with an attorney you need to meet with them and let them know you have cash to close if they have sellers that are in need to sell. Most probate attorneys just want to get the properties sold quick so they can get the assets liquidated. They want to know you are legit and can close if they call you. The other way to get their attention is to throw them some business. 

  • Member since 2018 · 65 posts · 25 votes
    6y
    Originally posted by @Bob Floss II:

    @Peter Shafik You will probably turn more attorneys away trying to offer something. We don't want the risk of taking payment for something that could be illegal or improper. If you want to get in good with an attorney you need to meet with them and let them know you have cash to close if they have sellers that are in need to sell. Most probate attorneys just want to get the properties sold quick so they can get the assets liquidated. They want to know you are legit and can close if they call you. The other way to get their attention is to throw them some business. 

    Yes! This is the stuff I'm looking for. I'll definitely work to create a system to do just that. Thanks!!!

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