Probate properties are homes, land or other real estate that are part of an estate of someone who has died. The property has to go through the legal process of probate where ownership gets transferred to the beneficiaries of the deceased owner’s estate or the property is sold to settle any debts. A probate property list attracts special attention in the real estate market as the heirs or executors are often motivated to sell their property as quickly as possible.
Can you get information on probate properties from public records?
Information on probate properties is often available through public records, though the specifics vary by location. Here are some key things to know:
- Probate records are files opened and maintained when a person dies and their estate goes through probate court. These records are generally considered public documents.
- Probate records will list the deceased person’s assets, including any real estate properties they owned. So if a property is going through probate, there should be public records indicating that.
- You can search probate records by going to the county clerk’s/surrogate’s office or probate court in the county where the deceased person lived. Many areas have online databases where you can search for probate cases involving real estate.
- There are also companies that specifically aggregate a probate property list and provide access to probate sales listings across different states. So that’s another avenue for finding probate real estate from public records.
By searching county probate court records, either in-person or via online databases, you can obtain information about properties going through probate that may potentially be available for sale.
What are the types of information available in public records in this regard?
Here are some of the key types of information on probate properties that may be available through public records searches:
- Property Address – The records should include the full address of any real estate that was owned by the deceased.
- Property Value – The probate filings often list the assessed, appraised, or estimated value of the properties. This can give you a sense of potential listing prices.
- Ownership Details – You can find out how the property was owned (sole individual, joint tenants, etc.) and who stands to inherit it or who the beneficiaries are if it will be sold.
- Mortgages/Liens – The records may disclose any outstanding mortgages, home equity loans, back taxes, or other liens against the property that need to be resolved.
- Plans for the Property – The probate petition should discuss plans to transfer property to heirs or plans to list and sell the property to settle debts/claims.
- Photos/Details – Some probate property lists include photos, square footage, bed/bath counts and other descriptive details of the actual property.
- Timing Information – The stages and timelines of the probate process may be indicated, giving you an idea of when a property may hit the market.
- Contact Information – Listing agents, executors, or estate administrators involved may be named with phone/email contact data.
So in probate real estate records, you can potentially uncover a wealth of information critical to identifying, assessing and pursuing these properties. You can search for flipping homes in California this way to make a profit on the resale.
How to make a probate list using public records?
Here are the key steps to making a probate property list using public records:
- Identify Probate Courts & Databases
Search online or contact local county surrogate/clerk’s offices to find where probate cases are filed in your area of interest. Many counties now have online probate case databases you can directly search.
- Broad Search for Real Estate Cases
Use general search terms and filters like “property”, “real estate”, “house”, etc. to pull lists of applicable cases. Consult the index/register for cases involving estates and property transfers.
- Review Case Files & Documents
Scan the petitions, wills, appraisals and other documents within each case file for property details. Look for address, assessed values, beneficiary information and intentions regarding property transfers or sales.
- Organize in Your Real Estate Probate List
Collect relevant case data in a spreadsheet or database table sorted by properties’ locations.
Include address, property values, status, sale plans, and timing for each listing. Update regularly by tracking new filings and changes in pending cases concerning real estate.
- Follow Up on Listings & Timing
Pursue listing details, showings, or bidding opportunities on upcoming sales based on your compiled probate list. Circle back for updates on cases not yet ready for market when initial estate issues are resolved.
Consistently mining and monitoring probate records in this fashion allows you to generate and maintain a customized pipeline of these properties entering the market through inheritance transfers.
Key Takeaway
Finding probate properties or flipping homes in California through public records is not too difficult. It is an inexpensive way to find lucrative real estate deals. You can get a lot of information through these records, information crucial for your interests. It could be time-consuming though as you would have to sift through a lot of data, prepare spreadsheets, and track the property on your watch. You can check out companies who give you access to an updated probate property list as well.
