Understanding the Probate Process
My name is (Reggie Martin) and I've written this message to educate you on the
probate process. I'll be revealing important facts about the probate process, as
well as problems and solutions that you, the executor or personal
representative will find able.
First, my condolences, as you're likely reading to this message because a loved
one, friend or business acquaintance has passed away. The last thing I want to
do is intrude, so this information has been posted to allow you to learn about
the probate process, without any pressure or having to speak to me unless you
are ready to do so.
However, when you do begin probate of the estate, I believe that the
information I'm sharing here will help you as an heir or a personal
representative who has the task of settlement of the estate.
First, you're not alone, as there are usually hundreds to thousands of probate
cases being handled at any given time in this county. The bad news is that
some probate cases can take years to settle. It's not usually delays due to any
disputes, but more in presiding over an equitable liquidation of some of the
assets, paying off debt, and then distributing the remaining assets and cash as
the will or the court dictates.
In many cases, the single largest asset class in an estate is the real estate.
Whether it's a single home, or multiple land or residential properties, this is
where most of the value of the estate rests. In most cases, the real estate must
be sold to pay off the estate's debt and leave something for the heirs.
The personal representative, or the executor, must oversee the sale of the
real estate. If that is your current role, I do not envy the responsibility you've
taken on. If you are an heir, you may want to have the personal representative
listen to this message as well, or just give them my phone number, which I'll
provide at the end of the message.
There are several factors that control the amount of time it can take to sell a
home or other real estate:
The current state of the local real estate market, as supply and demand will
always play a large role in real estate sales.
�The condition of the property is also a major factor. I have inspected
properties in probate that ranged from needing only minor cleaning through
major renovations to complete teardown.
The approach the estate takes toward pricing the property is a major concern,
as it should take these factors into account. It is usually not feasible to
undertake repairs or renovation of a property in probate, though you would
think that a better price could be realized if this is done.
There are many variables, plus the costs to do these renovations and repairs
must be borne at the time they're completed. If it takes months to more than a
year to sell it after that, this adds more cost to the estate.
Never has it been more true that "time is money" than in the estate probate
process.� While a home is being held in probate, there are a number of
ongoing costs:
�Utilities must be kept current in most cases, as turning them off creates
difficulties in showing the home. Also, sometimes disconnecting utility results
in high costs to reconnect, especially if code inspections are required.
Insurance must be paid, and sometimes the rate goes up in order to keep it
insured when vacant. Some policies will cancel if they find the property is no
longer occupied.
Vandalism can result in more damage and lower property value the longer the
property remains vacant.
And, taxes never stop.
� There are frequently periodic court and legal costs the longer the
property remains in probate.
So, it's almost always really important to sell the real estate quickly once the
decision is made to do so. This is where I can help in a number of ways.
First, I'll come to you with my experience as an active investor in the local real
estate market. I continually monitor the market,watch selling prices, and work
with contractors in renovating and repairing properties that I own.
I also work with a number of Realtors and other resources to keep my finger on
the pulse of sales prices of properties comparable to those involved in your
probate case.
Years of experience, and months of research are always in my "probate
briefcase." When I discuss the sale of real estate with the personal
representative, I arrive with some of this information already prepared.
Once we visit the property, I complete my analysis of value and present the
facts. I provide comparable valuation statistics, costs for repairs and
renovation, and any other costs that would bring the property to a condition
that is ready for the market.
Of course, this is a business for me, so there must be profit in the resale of the
property after I make all of these corrections, repairs and renovations.�
However, my success in probate property investment is an indicator that I
provide value to the estate process, and the personal representatives believe
that my purchase has been in the best interests of the estate.
If you're one of the heirs to an estate in probate, please bring this recording
and my contact information to the attention of the personal representative, and
call me with questions.
There's much more we can talk about, so please feel free to email me �and I
promise to get back to you promptly.
This is (Reggie Martin) thanking you for taking the time to read this message,
and I wish you the best in your probate process.
My name is (Reggie Martin) and I've written this message to educate you on the
probate process. I'll be revealing important facts about the probate process, as
well as problems and solutions that you, the executor or personal
representative will find able.
First, my condolences, as you're likely reading to this message because a loved
one, friend or business acquaintance has passed away. The last thing I want to
do is intrude, so this information has been posted to allow you to learn about
the probate process, without any pressure or having to speak to me unless you
are ready to do so.
However, when you do begin probate of the estate, I believe that the
information I'm sharing here will help you as an heir or a personal
representative who has the task of settlement of the estate.
First, you're not alone, as there are usually hundreds to thousands of probate
cases being handled at any given time in this county. The bad news is that
some probate cases can take years to settle. It's not usually delays due to any
disputes, but more in presiding over an equitable liquidation of some of the
assets, paying off debt, and then distributing the remaining assets and cash as
the will or the court dictates.
In many cases, the single largest asset class in an estate is the real estate.
Whether it's a single home, or multiple land or residential properties, this is
where most of the value of the estate rests. In most cases, the real estate must
be sold to pay off the estate's debt and leave something for the heirs.
The personal representative, or the executor, must oversee the sale of the
real estate. If that is your current role, I do not envy the responsibility you've
taken on. If you are an heir, you may want to have the personal representative
listen to this message as well, or just give them my phone number, which I'll
provide at the end of the message.
There are several factors that control the amount of time it can take to sell a
home or other real estate:
The current state of the local real estate market, as supply and demand will
always play a large role in real estate sales.
�The condition of the property is also a major factor. I have inspected
properties in probate that ranged from needing only minor cleaning through
major renovations to complete teardown.
The approach the estate takes toward pricing the property is a major concern,
as it should take these factors into account. It is usually not feasible to
undertake repairs or renovation of a property in probate, though you would
think that a better price could be realized if this is done.
There are many variables, plus the costs to do these renovations and repairs
must be borne at the time they're completed. If it takes months to more than a
year to sell it after that, this adds more cost to the estate.
Never has it been more true that "time is money" than in the estate probate
process.� While a home is being held in probate, there are a number of
ongoing costs:
�Utilities must be kept current in most cases, as turning them off creates
difficulties in showing the home. Also, sometimes disconnecting utility results
in high costs to reconnect, especially if code inspections are required.
Insurance must be paid, and sometimes the rate goes up in order to keep it
insured when vacant. Some policies will cancel if they find the property is no
longer occupied.
Vandalism can result in more damage and lower property value the longer the
property remains vacant.
And, taxes never stop.
� There are frequently periodic court and legal costs the longer the
property remains in probate.
So, it's almost always really important to sell the real estate quickly once the
decision is made to do so. This is where I can help in a number of ways.
First, I'll come to you with my experience as an active investor in the local real
estate market. I continually monitor the market,watch selling prices, and work
with contractors in renovating and repairing properties that I own.
I also work with a number of Realtors and other resources to keep my finger on
the pulse of sales prices of properties comparable to those involved in your
probate case.
Years of experience, and months of research are always in my "probate
briefcase." When I discuss the sale of real estate with the personal
representative, I arrive with some of this information already prepared.
Once we visit the property, I complete my analysis of value and present the
facts. I provide comparable valuation statistics, costs for repairs and
renovation, and any other costs that would bring the property to a condition
that is ready for the market.
Of course, this is a business for me, so there must be profit in the resale of the
property after I make all of these corrections, repairs and renovations.�
However, my success in probate property investment is an indicator that I
provide value to the estate process, and the personal representatives believe
that my purchase has been in the best interests of the estate.
If you're one of the heirs to an estate in probate, please bring this recording
and my contact information to the attention of the personal representative, and
call me with questions.
There's much more we can talk about, so please feel free to email me �and I
promise to get back to you promptly.
This is (Reggie Martin) thanking you for taking the time to read this message,
and I wish you the best in your probate process.
Reggiez Probates
“Betty is the best! She has helped
us buy and sell four homes — we'd
never hire anyone else.”
—The Greens
us buy and sell four homes — we'd
never hire anyone else.”
—The Greens
| Reggie Martin Sr. |
| 800.504.2708 |
| readyregg44@yahoo.com |
The Probate Process
 |
| |
 |
| |
 |
| |
 |
| |
 |
