Buying Probate

Purchasing properties caught in the probate system can be incredibly profitable. Since they are held up in the legal process, they are not on the open market, eliminating a ton of competition. In many cases, probate properties sell below market price, making them valuable to investors. 

On the other hand, the complex probate process can be difficult to navigate without a guide or experience. Furthermore, there are risks involved, so heading in blind is ill-advised. Working with a dual real estate agent and attorney is the best route of action if you are planning to buy probate property. 

Conservatorship Real Estate Broker Los Angeles

Conservatorships are special legal entities controlling someone’s assets. These are arranged when somebody is no longer capable of caring for themselves, so a conservatee begins managing affairs. Technically, the conservatee is the property’s owner, but the conservator has the right to sell, assuming court approval. 

If you want to purchase property held in a conservatorship, there are a couple of additional hurdles. Nevertheless, the process is similar to buying traditional homes. First, the conservator’s court approval must be obtained, or the property will be unsaleable. 

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Additionally, these properties come as-is, so doing your due diligence is even more important. Hire a professional inspector to analyze it before signing any contracts, and they can detect any lingering issues. If the property is below your standards, their testimony will inform you, allowing you to walk away from the deal. 

South Bay Owner-Occupied Property

Buying probate is relatively complicated, but you can buy south bay owner-occupied property hassle-free. If the property is too great to miss, put an offer on it immediately, or you will have to wait until it goes to auction. Then, you must outbid other interested parties, possibly driving up the price. 

Making an outright offer is near-identical to the traditional home-buying process, but you must put down 10%. After putting down this deposit, you are committed to buying unless the court rejects your offer. 

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Assuming the seller accepts, a court date must be set, usually 30 to 45 days after the initial purchase application. During this time, the seller must relist the property at a slightly higher price, giving other parties a chance to buy.