Finding Probate Property To Buy

compoCase

Hi,

After having purchased a probate properties over the years (all great bargains below market value!), I wondered if anyone knows of a website or service that provides a list of probate properties currently for sale?

In case people are unfamiliar with probate property, it is simply property left in the estate of a deceased person, which often is being sold by motivated sellers i.e. the beneficiaries of the will who might be willing to accept a lower offer to sell quickly and easily.

I am not asking for names and numbers of the family of the deceased or executors, but just the details of properties up for sale with agents/on Rightmove that are known to be probate property?

I know you can sometimes spot a probate property advert a mile off on RightMove. The ones with the floral carpets and green bathroom suites! but this can be hit and miss not to mention time consuming.

Thanks

Steve K

gettingtheresometime

I've heard of ambulance chasing but never of hearse chasing......

buggy_boy

compoCase wrote: »

Hi,

After having purchased a probate properties over the years (all great bargains below market value!), I wondered if anyone knows of a website or service that provides a list of probate properties currently for sale?

In case people are unfamiliar with probate property, it is simply property left in the estate of a deceased person, which often is being sold by motivated sellers i.e. the beneficiaries of the will who might be willing to accept a lower offer to sell quickly and easily.

I am not asking for names and numbers of the family of the deceased or executors, but just the details of properties up for sale with agents/on Rightmove that are known to be probate property?

I know you can sometimes spot a probate property advert a mile off on RightMove. The ones with the floral carpets and green bathroom suites! but this can be hit and miss not to mention time consuming.

Thanks

Steve K

I think if you have genuinely bought property from a deceased estate then you already know your own answer.... As you say you can often tell from photos or ask estate agents to let you know of any...

AdrianC

compoCase wrote: »

In case people are unfamiliar with probate property, it is simply property left in the estate of a deceased person, which often is being sold by motivated sellers i.e. the beneficiaries of the will who might be willing to accept a lower offer to sell quickly and easily.

And maybe they won't be. (Anybody else thinking of the infamous "Dad wreath" thread?)

Maybe there are plenty of other "quick-sale" bargains (repos, or simply very motivated sellers) which you'll miss out on because you're fixated on one particular route to market.

kinger101

Probate properties are sold at market value. Particularly if a solicitor is dealing with the estate.

eddddy

compoCase wrote: »

After having purchased a probate properties over the years (all great bargains below market value!)

How do you mean you bought them at below market value?

Do you mean that you bought them for less than other people were offering for them?

(Because if they were for sale on the open market, and you bought them because you made the highest offer - that would pretty-much be an exact definition of buying at the market value - and not below market value.)

Tom99

[FONT=Verdana, sans-serif]There is no reason to suppose that probate sellers are desperate to sell and will sell cheaply.[/FONT]
[FONT=Verdana, sans-serif]Generally there is no onward purchase so no desperate need to sell by a certain date, they can afford to take their time rather then accepting the 1st offer to come along.[/FONT]

Gwendo40

In my experience probate vendors are amongst the most greedy, stubborn and intransigent of all sellers.

HHarry

Search the Gazette for death notices then send speculative letters to the Executors.

That's what happened with my Aunts house last year. Although all the letters went in the bin, and I sold it the traditional way - for the market value.

Tiglet2

No doubt the very low offers we received before late aunt's property was actually on the market were as a result of a tip off from the estate agent. Best start flirting with them then.

Norman_Castle

Ask local funeral directors to have "we want your home" flyers in funeral cars.