The old saying goes: don’t judge a book by its cover. That saying is especially applicable when it comes to the probate industry. At first glance, probate can seem like a touchy topic that doesn’t generate much interest. Yet, it has the potential to be one of the most lucrative niches out there. If you can get into the probate niche, you have a prime opportunity to generate a lot of revenue.
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 New Jersey 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 New Jersey.
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. Segis Group can keep you informed and help you formulate an investment strategy when you are ready to buy a probate property in New Jersey.
Less Competition
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.
Motivated Sellers
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.
If you’re looking for a way to start your own business, you might want to consider getting certified as a probate consultant or opening up your own probate services company. It’s not the easiest niche to get into, but there are lots of people who need help with it.