I read from a couple of sources that the obituaries is a good source to come across distressed properties. Does anyone know how one would approach these in a marketable but respectful fashion knowing the situation is an emotional and delicate one?
What I do is collect the local newspaper obituaries, run the names on the local tax assessor and locate the property under that name. Im just stuck at how to make the approach… for example, if it’s by hand written letters or notes on the door, what script should I use for this kind of category. Thanks.
It’s ghoulish. You will offend the family members if you contact them.
Find out who is the executor and contact him and let him know that you are interested in buying when the house comes available. Put it in writing, so he can put your contact information into the file.
Be aware that estates take a long time to settle and it is unlikely that the house can be sold for a fairly lengthy time period.
All that will and estate stuff has to go through the county legal system, so it should be public information and the executor should be listed.
Hi,
You know you may be on to something, however like tatertot said "It is ghoulish"!
I would think though if you started a data base with the properties that might interest you and meet your criteria for investment I would think you wait 90 days, that is the fastest that even a trust (With Executer) has the power to look to sell the property and settle the estate.
I would send a very generic yellow letter and not even mention the obituary, I would bet you get some response, and you don’t have to disclose that your a vulture waiting to pray on the dead. lol
Gotta have a sense of humor!!!
GR
I’ve spent many hours in the local Surrogate’s Office researching recent deaths. Generally I only contact the executors when there was no surviving spouse or other family residing at the decedent’s property, as best as I could tell from the documentation available. I sent a sympathy letter that also let the executor know that if and when they considered selling the property we would be happy to work with them. The letter was intended to be sympathetic and tasteful while also being businesslike.
Although I never got a response from those letters, the last property I purchased was from an estate and the executor was glad to have someone handle all the details of the sale and take the property off their hands.
jmd_forest
Thank you for the responses… If you have more, please keep it coming.