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How to Find Probate Real Estate Properties, Cars, Furniture, Painting, & Jewelry  for 30% to 50% Below Current Market Value

probate real estate investing properties

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Probate FAQ


You may have heard that you should avoid probate, but you may not even be sure what probate is. Here are the basics.

 What is probate?

Does all property have to go through probate when a person dies?

Should I plan to avoid probate?

 

What is probate?

Probate is a legal process that takes place after someone dies. It includes:

proving in court that a deceased person's will is valid (usually a routine matter)
identifying and inventorying the deceased person's property
having the property appraised
paying debts and taxes, and
distributing the remaining property as the will (or state law, if there's no will) directs.
Typically, probate involves paperwork and court appearances by lawyers. The lawyers and court fees are paid from estate property, which would otherwise go to the people who inherit the deceased person's property.


 Does all property have to go through probate when a person dies?

No. Most states allow a certain amount of property to pass free of probate, or through a simplified probate procedure. In California, for example, you can pass up to $100,000 of property without probate, and there's a simple transfer procedure for any property left to a surviving spouse.

In addition, property that passes outside of your will -- say, through joint tenancy or a living trust -- is not subject to probate. For a discussion of the most popular probate-avoidance methods, see Ways to Avoid Probate.

Should I plan to avoid probate?

Probate rarely benefits your beneficiaries, and it always costs them money and time. Probate makes sense only if your estate will have complicated problems, such as many debts that can't easily be paid from the property you leave.

Whether to spend your time and effort planning to avoid probate depends on a number of factors, most notably your age, your health, and your wealth. If you're young and in good health, adopting a complex probate-avoidance plan now may mean you'll have to re-do it as your life situation changes. And if you have very little property, you might not want to spend your time planning to avoid probate because your property may qualify for your state's simplified probate procedure.

But if you're in your 50s or older, in ill health, or own a significant amount of property, you'll probably want to do some planning to avoid probate.

 

TOP FIVE REASONS TO ACQUIRE
PROBATE REAL ESTATE PROPERTIES

1. BARGAIN BASEMENT PRICES: The probate market is full of fabulous properties you can snap up for 30% to 50% below market value. Get the home of your dreams for your family,  or resell quickly and be positioned to capture a lifetime of gains within days. It's the ultimate "Buy Low/Sell High" scenario.

2. HUGE INVENTORY: There are almost six million estates in probate, with assets worth trillions of dollars. Every type of real estate-from houses to beach side motels-are in probate. According to the Los Angeles Times,  there are nearly 44 times more probate properties than properties in foreclosure.

3. BUYER'S MARKET: Purchasing property out of an estate assures you of a highly motivated seller. Most beneficiaries are anxious to sell the house so that they can pay off debts attached to the estate that must be settled before the estate can be distributed.

4. ALL KINDS OF TREASURES: Historic architect, classic cars, fine jewelry, antiques, art, toys, collectibles, and much more enter into probate every day. Millions of items. And they can sit there for years unless you rescue them.

5. IT'S A COMPLETE SECRET: Few people know how to find and purchase property from an estate. Most the beneficiaries don't know how to sell. That means, as a "first in" estate investor, you have little or no competition from other buyers - plus you're helping anxious sellers

 

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