Probate Real Estate - $750K - $1M
3 Reasons Buying Probate Homes Can Be a Good Investment
Whether you’ve been thinking about investing in real estate, or you’re looking to increase the amount of investments you’re currently making, consider alternative properties to invest in. While many investors look for new opportunities to flip homes, many have not considered the benefits of purchasing a probate home as their investment property.
Probate properties refers to the process of determining who is entitled to sell the property when the owner of the home dies. In many cases, the executor of the estate will handle the in’s and out’s. Here are some reasons why you should look into these alternative investment homes for your next investment opportunity:
#1. They might want to sell quickly. In some cases, heirs of the property or the estate cannot handle the added burden of owning, repairing, and maintaining another property. If this is the case, as an investor, it may be possible to get the property at an attractive price.
#2. There’s less demand. Since the procedure for purchasing a probate home can be a lengthy one, many people avoid buying probate. This means there’s less demand for them, and as a whole, tends to make probate properties more affordable, which can make probate homes a good investment.
#3. They’re great fixer-uppers. Most elderly homeowners don’t want to spend the time or money to maintain their homes unless it’s a must. This leaves a lot of opportunity for an investor to make improvements and truly profit when they sell the home.
Purchasing a probate home is very different from purchasing a traditional home. It’s key that you work with an experienced and knowledgeable team of agents that can assist you through the entire process. If you’re ready to learn more about investing in probate properties, contact The Sanborn Team today!