Probate

Look them up on facebook? County website to see if they bought a new house? Ask neighbors to see where they may have moved to, if you tell them why im pretty sure someone knows and would gladly help you out especially if you point out youll give them a $500-1k referral fee after closing...

How did you come to find out it is in probate?

Go to the courthouse and find the probate dept. Tell them what you are trying to do and ask them to show you how to find the info. If the probate has been filed, it will show on record who is the executor. By having them show you, instead of just doing it for you, you will know how to do it yourself in the future.

Karen

Karen's correct, the best way is with the county, we have bought dozens of probates by searching our county clerk's website; clicking on probate under
the documents, then seeing who is the personal rep; their address & relationship to the party. We then send a condolence letter & offer to purchase the property.
This way you have all the specs on the house, beds/baths/square footage; what they paid for it & when; if their is a mortgage & if so how much was taken ... this way you have all the info needed to purchase.

I am very NEW to Real Estate and I have a probate list I get every month in my county.... I don't have a clue on What and How to make money with it. Better yet what is Probate about?

Someone Please Help!

Thanks again your every where arent you god bless your sweetheart.

Thanks and godbless

Being a probate specialist myself, I would agree with the above. Most counties list them on their website, if not you will have to visit superior court/ family division and ask for the name of the estate. There may be a computer in the lobby for public use. Ask the clerk to help you with the computer. The executor's info is in the file at the top of the "petition for probate". The mailing address will also be displayed in the "notice of hearing" (a court term used to notify all heirs of the court date) I have filed many probate cases with the court and know the procedures well. Take a look at my bio. Good luck!

Probate is a legal process whereby a court oversees the distribution of assets left by a deceased person. Assets are anything a person owns with value, such as real property, personal property, cash. There are different types of probate. Petition to determine succession (estates under 150k in California). This procedure takes about 2-3 months if done correctly. Simple probate (estates over 150k). This may take anywhere from 4month to 1 year. There is also another procedure if the estate is less than 50k. Hope this helps.

Hello Everyone,

Sac-townsfinest, you have given great advice to everyone on what probates are and how to find them. I encourage everyone to take advantage of the probate markets in your area because there is not a lot of competition in them and you can assign them, double close them or bird dog the properties. Sure they are a littler harder to get to but all good deals are hard to get to. Take the time to learn this process and get these types of deals it will be worth your time.

Good luck and happy investing,
Shah Ali

Thanks. You are right. They are a little more difficult but worth it. I have learned the probate laws of California. Including how an heir will inherit property. In most states the procedure is the same, but may have a few things you might have to change. The petition may have a different name, but similar. When the executor or administrator decides to sell, the executor must have "letters testamentary " to be given to escrow (petition filed with a will). If there is no will, the administrator will receive "letters of administration". This document allows the title to transfer.

Jeanine, could you explain the probate referee and how they fit into the scheme of things in California? Thanks

I started looking at a house back in late December. The owner was in bad health and had moved in with his daughter. They were trying to get mortage company to go with a short sale. The owner passed away around Christmas. His daughter has power of attorney for her father. She still wants to go through with shortsale. Doesn't his assets including the house have to go through probate before she can continue with short sale?

The probate referee (appraiser) values the assets of the estate (real estate, stocks, bonds, cash, etc). The probate court has appointed referee's for each county. You can not use a regular appraiser. The probate referee takes anywhere from a few weeks to 30-40 to value the assets and complete the inventory and appraisal. Keep in mind that the referee values the estate on the date of death of the deceased. So if the deceased past away in say June 1974, then the appraiser will put together comps for that time frame, June 1974, NOT for the year June 2014 of today's value.

Yes Power of Attorney ends at death. It has to go through probate. A short sell is still possible, but she has to transfer (probate) the property to get clear title first. Most banks will work with her if there is proof of probate. You can PM me.