Investing in probate properties is a method used by savvy investors as well as average buyers who are looking for a great deal on a NY home.
Sometimes probate properties are listed on the MLS, other times they are sold off-market. Once you understand how probate properties are sold and you’ve found a professional you can trust, investing in probate can be one of the best niches in NY.
A Constant Flow of New Properties
Every year millions of probate cases are filed in the USA. This means there is a continuous opportunity for you to find and discover the properties that are right for you. There are properties to be found in every single city and in every single state across the country.
No matter where you live, you are certain to find a property being sold through probate nearby. The trick is to be able to find these leads and act quickly. LI Off Market Deals can keep you informed and help you formulate an investment strategy when you are ready to buy a probate property in NY.
People tend to hear the word “probate” and run the other way. But there is nothing to fear. If the executor of the estate is given the right to sell the property as if it were their own, without the approval of the courts, then the process is very similar to buying a home the traditional way.
There are different levels of authority an executor or estate administrator may hold. If you want to close quickly try to work with someone who has full authority of sale of the home, without the court’s permission and red tape.
If you are able to successfully make an offer before the property is listed or the address is printed, you have a greater chance of your offer being considered.
There is no seller more motivated than someone who has recently inherited a property. More times than not, the heir(s) will want to sell fast and deal with the property as little as possible.
If the inheritance was unexpected, the heirs may not be ready to deal with taxes, utilities, and maintenance on the home. If they live out of state (or out of the country) they can be even more motivated to sell as traveling to the home or paying someone to handle things for them can prove to be costly and stressful.
By you making a fair and simple offer you are likely to appeal to the heir who wants to end the process quickly and efficiently.
Investing In Probate Properties Can Be Simple & Lucrative When You Have a Professional On Your Side!
Call LI Off Market Deals at 516-286-1477 of fill out this form to get more information about investing in Long Island probate properties!