Probates Vs. Probates w/ RE Vs. Obituaries w/ RE Vs. Inheritance leads
Hi All
Quite a few people asked me to explain the differences between four category of leads - probates, probates with real estate, obituaries with real estate and inheritance. Summary is based on five years of extensive research. Happy to hear from more knowledgeable and experienced on the Bigger Pockets, I am still learning!
Probate Leads
1. Majority of instances property of the deceased person has to go through the process to transfer the title to the legal heirs.
2. It usually takes 3-24 months to complete the process; vary from state to state, and value of the property
3. Probates records are filed at county clerk office or county family court
4. Probate records may or may not have real estate associated. 20-50% of these records have real estate associated
5. Not the best lead type for real estate investor, high marketing costs and follow up time. Marketing costs incurred on ones without property is a waste
6. Not all property transfers go through probates process due to trusts, gift deeds and other tax optimisation techniques. Some opportunities may be missed
7. These leads are popular with investors
Probates with Real Estate
1. Above probates leads are processed to look up for property associated. Probate leads with Real estate are considered as leads
2. Better lead type for real estate investor, lower marketing costs and less lead but quality leads for follow up
3. Not all property transfers go through probates process due to trusts, gift deeds and other tax optimisations techniques. . Some properties may be missed
4. These leads are Very popular with investors
Obituaries with Real Estate
1. Obituaries records scrubbed to find if the deceased owns real estate. Records with Real estate are considered as Obituaries with Real Estate leads
2. Very early in the probates (or may not) process. Some investors like to get in touch with family early. Others think it too early.
3. Good opportunity to tap properties which do not go through probate process because of trust and other tax optimisations techniques
4. These leads are popular with wholesalers, who run massive campaigns and bond insurance companies
Inheritance Leads
1. Property transferred to heirs after the completing the probate process or other methods
2. Title of the property owned by heirs
3. Better lead type for investor; Heir may not live in the inherited property
4. Most popular with investors
Feel free to contact me if you need any further information.