Wealth Through Probate
Wealth Through ProbateGet the entire teaching about Buying Real Estate In Probate, which will give you all the tools you need to be successful on Probate Real Estate Investing
What is Probate
You only think you understand what probate is. However, Dennis J. Henson reveals what it probate really is and how you can use that knowledge to your advantage.
Probate Real Estate
Reveals the 10 questions you need to make sure you ask when first contacted about probate real estate.
Probate ProblemLearn how you can turn the personal representative's probate problem to your advantage.
Probate Investing
Reveals the Answers to the 13 important questions you need to know to be successful at probate real estate.
Probate Real Estate
Buying Real Estate in Probate
Probate real estate presents some challenges the investor will not experience in other types of real estate deals. However, there are some basics that are the same no matter what type of deal you are working.
Initiating the Contact
You’ve done the probate research. You’ve sent out letters and post cards, and done everything you need to do. Sooner or later you are going to get a response and the phone will ring. What are you going to say first?
Be Empathetic
The caller is probably going to mention receiving a letter that said that you “buy houses fast and pay cash”. You will want to ask, “Was that a letter where someone passed away?” If the response is affirmative, you want to respond, “I’m so sorry for your loss.” Respond naturally with empathy, letting the caller know that you identify with what they are experiencing.
Get the Address
After some small talk, bring the conversation around to the property. Arrange to visit the property with the caller, and then find out the address so that you can go see the home.
Ten Questions to Ask
Remember, probate real estate is different, instead of asking why they are selling -- you already know why -- you need to learn some specific information before going to see the home.
- Can you tell me a little bit about the home?
- What’s it worth?
- Are there any taxes owed?
- Are there any other liens?
- What are you asking for the property?
- Is the home empty?
- Are you the personal representative? If not, what’s the name of the personal representative?
- What’s the address of the personal representative?
- What’s the name of the attorney?
- What’s the address of the attorney?
Write a Script
You need to be able to ask all these questions. Don’t rely on your memory. Make a script. Write it down. Put it by the phone. Put it in your pocket. Put it in your car. Put it everywhere.
Memorize this Phrase
There is one phrase that you should memorize if you want to be successful buying real estate in probate. This phrase should also be included in every letter to probate attorneys and personal representatives. If you can’t remember it, write it down, because these are the magic words:
If you want to be successful in Probate Real Estate, order the entire Buying Real Estate in Probate package.
