History
Icon-add-to-playlist Icon-download Icon-drawer-up
Share this ... ×
...
By ...
Embed:
Embedded player size:
Embedded player preview:
Icon-play-large
The Truth About Buying in Probate Properties When purchasing Your F...
Time-length-icon 0m 0s
Icon-like
Publish-date-icon August 7, 2012
Icon-add-to-playlist Add to Playlist

Subscribe-itunes-badge
EPISODE DESCRIPTION

When a homeowner dies without a will or final instructions on how to divide their estate, the house goes into a legitimate process called probate. Their estate is divided according to state laws administered by the local courts. Sometimes the estate is going to be sold by a person called the executor, administrator or personal representative who is accountable for selling the home privately without the aid or intervention of the courts.

There are lots of real estate investors who focus on probate properties because of the potential to buy a property at a great value. However for a first-time homebuyer the process could be riddled with potential landmines such as:

http://www.BUYINGORSELLINGACONDO.COM

Lengthy legal procedures and costs: The probate process is long and cumbersome for anybody without a law degree to navigate. It may need several trips towards the courthouse to invest in the property and many hours of research and preparation to complete long-winded legal documents.
Unknown costly repairs needed: With a few probate sales, you'll most likely be required to buy the property as-is so whatever is wrong using the home before you buy is now your condition. Obviously, this presents an exceptional level of risk which isn't present in an ordinary purchase transaction having a non-probate home.

http://www.BUYORSELLINLOSANGELES.COM

Even with the risks involved with purchasing a probate house the opportunity for finding a great deal along with a home you'll love may be worth the potential risks. The ideal situation is to find the executor or administrator from the estate and work directly with that person through your realtor. If you know ahead of time you might be considering investing in a probate, then you will definitely want a skilled real estate agent to guide you with the process.

COMMENTS
You must be logged in to post a comment.
GO MOBILE
Check us out on mobile! Get the PodOmatic Podcast Player for iOS and Android.
App-store-badge Google-play-badge
Help | Terms | Privacy | Partners | PRO Support
© 2015 PodOmatic, Inc.