Thorny Probate Issues = Possible Opportunity
When we hear the word Probate, most of us are really unclear on what Probate actually means, let alone what hidden opportunities lie within Probate Estates, hence why I produced a FREE Report that set’s out the answers to the most commonly asked questions, along with how we can go about profiting from UK Probate Property – Click Here for your copy.
If you are one of those people that has been on the receiving end of Probate, i.e. you have acted as an executor for an estate, then you will know how complex the process can be, let alone emotionally draining when it comes to trying to do the right thing for the person who has passed away, leaving you to administer the proceedings, according to their wishes and worse still if they did not make their wishes known.
If however, you are like most people, then Probate is just an official sounding legal term for the proving of a will and the subsequent distribution of assets within a deceased estate, in order to settle the estate.
On the one hand you have a process which can be very lengthy and onerous upon the executor and sometimes fraught with disputes over who gets what and when by the beneficiaries, which can just add a complexity that means probates can go on for many years in extreme cases.
On the other hand, there is often a very practical and necessary part of probate, which requires that the estate MUST settle in order to discharge outstanding liabilities, such as debts to creditors, in addition to continuing Solicitor Fees, Insurances, Maintenance of Property, Council Tax etc…The list goes on…
What makes Probate Property unique and completely revolutionary compared to all other traditional forms of Below Market Value Property Investing, is that there is often ZERO competition, due to it not being advertised and because of this, there are no estate agents involved, no dutch auction and most significantly a long list of reasons why the property MUST sell.
Unlike repossessions, the Estate MUST sell and WANTS to sell to resolve the estate.
If you have been an executor, or know of someone who has had the responsibility of administering an estate for a family member or someone they know, then you will most likely have heard them say at some point, “I wish there was someone that would take this all away”…..
As a Property Investor, looking for Probate Property we are first and foremost a Problem Solver, in other words, we are there to assist in solving a problem by offering to buy the property on an “as is” basis, so that the estate can settle and people can have closure and move on in their lives.
How often have you been faced with a particular challenge in your life and when things got tough, sit there and say “I wish this would all go away, or I wish someone could just take this problem away from me”? – Well this is what can and most often happens in estates that are in the probate process…
Sadly there are a lot of people in the world that want and expect something for nothing and they want it, but are not prepared to give anything back – This unfortunately is a fact of life and NOT a place WE ever want to be, because when you take and never give back, eventually you will be like a car with no petrol, you will run out of peoples trust and faith and you will exhaust all good things that can come to you.
If on the other hand you observe the Laws of Giving and Receiving, then abundance will flow to you in your life, in other words what we put out there will come back to us – If only people would just understand that there is enough to go around for everyone, then greed and stinginess would not exist.
Sorry, I’ve gone off track a little… What do I mean by all of this and what’s all this got to do with Probate? Well for us to get what we want in life, we have to give others what they want and so all transactions in life, should be a win for both parties, NOT I win you lose!
In the context of Probate Properties, WE win by obtaining property significantly below market value and the ESTATE wins, by solving a huge problem, by liquidating the largest asset quickly, which in turn enables the settlement of the estate and for all beneficiaries to receive their inheritance, as well as mitigating the rising costs involved in prolonging probate.
If we approach people in the right way and treat the situation and the people involved with the utmost integrity and respect at ALL TIMES during our involvement with the estate, then we have a situation, whereby Probate Property at 30%, 40%, 50% , or more BMV really IS possible…