Home Selling in New York>Question Details

Marc03, Home Seller in New York, NY

How can I locate probate properties for sale in NY State?

Asked by Marc03, New York, NY Sun Apr 15, 2012

Cash is available.

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Answers

3
Look up the court records in each individual county.
0 votes Thank Flag Link Fri Apr 27, 2012
Hello Marc,

Why don't you try estate attorneys?
Judges will need to see appraisals justifying the value offered, just so you know...

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Thu Apr 26, 2012
Such properties are very often, I am tempted to say nearly always, listed with real estate agents in the local area. A similar kind of sale is when the court orders the immediate sale of property because of an LLC dissolution; these are also listed with agents.

If you want to pursue this, my advice would be to contact the largest firm covering the area you're interested in and call the broker, not the agents, but the broker. (If you're thinking about this kind of purchasing, you should certainly know enough to understand this distinction already. If not, I suggest more homework before you dive into unconventional purchases).

The brokerage may not tell you directly or confirm that a a property is a probate sale, but on the other hand, they very well might suggest it. It just depends.

Another approach is to contact attorney offices of probate/estate lawyers, and ask them if they have properties that need to be sold. You might catch them at the right moment.

It's not necessarily the case that probate properties will be a bargain, by the way, despite what hype you may have heard. But the advantage you have as a buyer is that the sale is required and relatively urgent, in most cases. But if you don't know how to use that advantage, you could easily end up paying market price for a probate property.

The best bargain properties for easy purchase in my opinion, if that's what you are looking for, are REOs, not probates. REOs are better than short sales too which tend to sell only a little below market price, at least where I'm located, and only after a hassle. REOs are handled by real estate agents and brokerages and are often labeled as such.

Karla Harby
Licensed RE Salesperson
Rutenberg Realty
kharby@crrnyc.com
212-688-1000x146
0 votes Thank Flag Link Mon Apr 16, 2012
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