Which House?

Posted On 5:20 AM by Scott Costello |

This week is going to be a busy one! My main goal is to pick out 1 or more of these 4 houses to make an offer on. Take a look.



3 Bedrooms
2 Bathrooms
Asking 360k
SOLD AS IS. LARGE HOME. SOLID MASONRY AND FRAME CONSTRUCTED. HW FLOORS. FRESHLY PAINTED THROUGHOUT. OVERSIZED 2 CAR GARAGE. PROPANE GAS FOR COOKING ONLY. GREAT INVESTMENT FOR HANDYMAN. REPLACEMENT WINDOWS THROUGHOUT EXCEPT LR. 1ST FLOOR DEN OR 5TH BEDROOM. DO NOT USE REAR STEPS. ABOVE GROUND OIL TANK. PROPERTY WAS SUBDIVIDED IN 08.





3 Bedrooms
1 Bathrooms
Asking 339K
HOME IS AN ESTATE.SOLD "AS IS"LARGE LOT TO EXPAND OR JUST FIX UP. GREAT TOWN TO LIVE IN.LOW TAXES!!






3 Bedrooms
2 Bathrooms
Asking 399K
CHARMING CUSTOM HOME IN EXCELLENT AREA, CLOSE TO SCHOOLS & TOWN RECREATION. HOME OFFERS 3 BEDROOMS & 2 FULL BATHS







4 Bedrooms
2 Bathrooms
Asking 359k
DELIGHTFUL RANCH LOCATED IN A VERY NICE AREA, HUGE PROPERTY W/ 3 BDRMS, LARGE ATTIC (POS. ADD''L 2 BDRMS) 2 FULLBATHS, DINING RM, HDWD FLRS, LIVING RM, ENCL. PORCH, 2 LARGE GAR, CONV. TO SHOP & HWYS. FURNACE AND WATER HEATER LESS THAN 3 YEARS OLD, LOW TAXES - SALE SUBJECT TO 3RD PARTY APPROVAL





Probates

I also mentioned I had some questions regarding probates. I looked through the probate files and according to preston ely I should be trying to find Real Estate listed in the Assets. Of the 40 files I looked at, not 1 of them had real estate listed and only 4 or 5 had any assets listed at all. 2 had cars and the others mentioned bank accounts. Is this normal? Are there really going to be that few that have any assets not to mention Real Estate? Should I worry about if it lists real estate as an asset?
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4 Response to 'Which House?'
  1. Shae
    http://sjcostello.blogspot.com/2009/06/this-week-is-going-to-be-busy-one-my.html?showComment=1244555165434#c5656050013780211283'> June 9, 2009 at 6:46 AM

    Wow, houses are pretty expensive up there in NJ eh?

    What's the scoop on these houses that would help you get them for a good discount, Scott? Are they in bad condition on the inside? Have they been on the market for 6 months or more? What's the hook on these?

    Great work moving towards your first offer :-)

     

  2. Scott Costello
    http://sjcostello.blogspot.com/2009/06/this-week-is-going-to-be-busy-one-my.html?showComment=1244655701886#c3402511328555924972'> June 10, 2009 at 10:41 AM

    Yup, very expensive. Well above the median income level that is for sure.

    These houses are on the low end of the prices and have been on the market for a while. They are in bad shape compared to the surrounding houses as well. I've ask my realtor for comps and i'm gonna go check them out to see if I see any obvious red flags.

     

  3. Unknown
    http://sjcostello.blogspot.com/2009/06/this-week-is-going-to-be-busy-one-my.html?showComment=1244702308654#c1992497014717482199'> June 10, 2009 at 11:38 PM

    Scott,

    There should be more info in the file regarding a transfer of property/real property or a notation of whether or not the estate was valued over/under a certain amount.

    I've worked probates in 6 different counties now and although it can sometimes take a few minutes, you can usually find the 'indication' of property in the estate. Much quicker this way rather than waiting for the statement of assets to be reported by the executor.

    Also, in your letter to the exec/bene's, I changed Preston's letter. Drop the specific address info from your letter. I just say something like, "I understand that there was property in the estate" or "if there is property in the estate that you are interested in selling..."

    Reason for this change is because many decedents in the areas I work ended up owning more than one property and I actually missed a deal because the exec thought I was only interested in the property I noted in my letter.

    Stick with the probates. They're one of my favorite ways to find property with equity in this market. In fact, my last 2 deals (12k and 11,500) have been from my probate mailers.

    Oh, and write up a second & third follow up letter to write at 45 and 90 days after the first. You'll likely pick up some more leads.

    Enjoy-
    Taylor
    11 Day Sale
    heytaylor.blogspot.com

     

  4. geeta
    http://sjcostello.blogspot.com/2009/06/this-week-is-going-to-be-busy-one-my.html?showComment=1311835470721#c5468121409350481739'> July 27, 2011 at 11:44 PM

    This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article.
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