Do you send probate letters to nice houses in nice neighborhoods?

Question

Do you only send probate letters to distressed properties, or do you send them to very nice properties also?

I assume I would have a better chance of getting a probate property  if it is at least a little distressed. Then the executor/personal rep might not be as quick to put the property on the MLS. It might give me a chance to help them clean out the property and get a good deal.

If the property is in great shape, and they want to sell, I think they would list it on the MLS to get top dollar for it.

Rick H. · Answer

I think all the posters (so far) understand what you're trying to do.

Re-read my post. I gave you the answer.

Bill Gulley · Answer

Excuse me.......LOL, the rich don't die they develop into foundations!

I'd contact any mortal regardless of how nice their property is, but the nicer the better usually. :)

Mark Pedroza · Answer

Account Closed Based on CA probate law, if the estate is using "IAEA" the will instructs the estate that the property will be sold "With or Without Notice". So, the estate has the option of placing the property on the MLS even if the property is in great shape.

(No I'm not an attorney and this is not legal advice)

Mark (N-CA)

Sac/Placer counties...

Account Closed · Answer

@Rick H. @Bill Gulley @Mark Pedroza

I'm trying to learn to qualify leads as worth mailing to or not.

I always Google the address in probate to see where it's located and if it's already been listed in the MLS. If a property is in bad shape, or if it's in a neighborhood where I know it won't sale for top dollar,  I can see the executor/PR being motivated to sell quickly for a discount.

Some properties I find in probate are $400K or $500K and up. They are in nice gated communities. Some are in golf/country club type communities. I assume the property would be put on the MLS to get top dollar. I was skipping over these leads, but I guess the executor/PR could be motivated with these leads too. If the mortgage payments, taxes, HOA fees, and up keep are expensive, then they could be motivated to get rid of it. If they live out of state, they could be motivated. For now, I will mail to every lead and see what happens.

Rick H. · Answer

Waffle house?

Bill Gulley · Answer

The wealthy don't really die, they live on through their charitable foundations sponsoring non-profits, schools, hospitals, PBS, etc.

Yes, it's the trees blocking the view of the forest again.

Russ, look up "market value" of real estate, you'll find definitions and then you'll see that investors don't buy at a "discount" this isn't a department at Wal Mart, you buy at a distressed value when the conditions of the definition aren't there. Not picking, buying at a discount is guru speak.

You don't have to always buy at distressed values, learning more about adding value is how we make money in real estate, so the MLS shouldn't be ignored!

And, there are much better ways to lock up deals than mailing lists, much cheaper too. Dig deeper, where do many folks go before they die? What problems can be solved while they are on the green side? Just food for thought! Good luck :)

Rick H. · Answer

Sorry @Bill Gulley but I don't get the joke.

An asset may it may not be in disrepair with deferred maintenance or even damages due to extended period of vacancy or worse.

But you don't typically know this when you create your list.

You'll discover that the living are the ones in distress, not the properties. Houses don't care or have feelings. People do.

Just mail!. Your risk? A stamp and an envelope.

As you continue mailing you ought to study how to create better lists, how to time your multi-letter sequence campaign, how to write better letters and study copywriting techniques so that your letters pull better when tested on a control response.

The job of the letter campaign is to attract a prospect to you so that you can concert them and close the deal. Too many people try to convert the prospect in the letter. Wrong. That's your job. The letter has one job and one job only.

Since the original post was a simple question about distressed or not, you may learn how to target certain issues that the PR is concerned with and propose to solve their problem.(s).

Do you send probate letters to nice houses in nice neighborhoods?

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