BEST REAL ESTATE LEADS FOR REHABBING HOMES LEON MCKENZIE
Probate properties are usually put on the market as
a requirement by the court to ensure that bills
associated with a loved one’s death are rectified.
Guided by a courtappointed Executor, this
individual, usually a family member, friend, attorney
or accountant, has the power to sell property.
Generally, the Executor is willing to sell property for
thirty to fifty percent less than the current market
value. This is due to the fact that medical bills,
legal fees, funeral costs and taxes need to be paid
in order for the probate to be closed and heirs to
receive their share of the estate. Executors may
also be exceptionally willing to sell property if they
live out of state or far away from the property they
are managing. This can create issues with
property maintenance and upkeep.
Bankruptcy leads can be found as the result of court proceedings in which an individual is facing financial
challenges. These sales can include everything from residential homes to businesses and commercial
property. If you find a bankruptcy deal that will work for your business, make sure to have your attorney review
the documents the first time you complete this type of transaction. The verbiage required by the courts can be
a little bit different than traditional sales.
Divorce leads are another area where you can
get great deals on homes to rehab. In fact,
many times the court will order a home to be
sold in order to complete the divorce, making
both parties more than eager to sell the home at
a competitive price. Be forewarned, though,
that relationship issues may cause one party to
refuse to sign to complete the deal. Have your
attorney review the sale documents and ensure
that you can remove yourself from the contract
if there is a delay due to a disagreement
between the divorcing parties.