Hello BP gang,
Lately I have been doing plenty of due dilligence on the subject of probate and have taken my first action steps, including scouring the public record files at the court building as well as looking thru the newspaper public notices... I have learned to identify which probate cases have real property attached to them. The part that still troubles me however, is not having access to the specific property information. All I have been able to discern, is the fact that real property exists in the estate but at least in the ones I've looked at, I've found no specific property addresses; only phrases like "all my real estate, I leave to so and so..." So from what I gather, the best way to go about retrieving this info then, is to look up the last known address of the deceased and pull up the tax records for that address to see if I get match? What if there are multiple properties? Would contacting the attorney or executor of the will be the only other alternative? I am hoping there is some way to look up the property addreses in order to do preliminary analysis and get a property profile to establish if the property is something I'd wanna even make an offer on, BEFORE I contact the attorney or executor. I would appreciate any feedback. Thanks!
Great questions! I wish I could be of good advise on that one for you. I am currently marketing towards probates as well doing both direct mail and phone calls. Only been in the niche for a few months but no dice yet, I am optimistic though. I am in Riverside/Corona area. Hopefully we can get a good response to your questions!
Data collection is what you do in order to compile a cold list.
Research is what you do when you wish to know or learn more about a topic
Due diligence is what you do when you have a lead who has responded and become a prospect or a target asset that you wish to bid on at auction.
Here's my take:
A prospect, upon contact, can be qualified by asking a few questions to determine if there's potentially a match of interests. I try to determine what they want and what they have.
Due diligence doesn't enter the picture until I'm trying to narrow down what has been tendered (or will be offered) and reconcile what's been represented with what I find to be the truth.
How do you identify which probate cases have real property attached to them?
In CA, the initial filing document "Petition" face page will disclose if the Decedent's estate is associated wth any real property assets. Page two will provide estimated value and total encumbrances.
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