what to do with probate leads

[Account Closed]

So I found a couple of probate leads but don't know the process. If the house is still under the recently deceased, how do I go about buying the house? Can anyone explain the process? What happens when there is no next of kin? 

[Rick H.]

What is your level of real estate education?

You are either trying to buy equity or cash flow (at a discount). In order to know what a bargain is, I need to understand what a non-bargain is. That's the value part.

For instance, I'm looking at buying another car. I need to know what the market for such a car is, year, model, color, option, etc., in order to compare. Once I have a sense of retail value, I can decide what I'm willing to pay, especially if I want to find a bargain.

As with any real estate, someone has to have the ability to transfer (pass) title ownership. That's typically done with a deed; occasionally by court order. 

Since dead people don't sign deeds (except in fraud cases) probate includes a way to empower someone else to sign documents that allow the transfer of decedent's real estate. This person may be called executor (named in a will) or administrator or personal representative. 

The important thing to remember is that it's the person in charge of an estate who has the power to sell. It may also require a corresponding court order confirming the sale.

Every state has its own laws pertaining to real estate as well as probating decedent's estates. 

I've been working probates for decades and continue to learn laws for my state, CA.