We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What are the Pros and Cons of Buying a Probate House?

Malcolm Tatum
By
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Buying probate property is often a great way to build an interest in real estate. In many cases, it is possible to purchase a probate house for very reasonable rates once the process of probate has been completed through a court system. While there is a great deal of potential to resell the property and earn a tidy profit, there is also some chance that things will not go exactly as planned, leaving the new owner with property that cannot be sold even after making a number of improvements.

One of the benefits of buying a probate house is that the heirs to the property may be willing to sell for a price that is slightly less than market value. This is often because the heirs have no real desire to use the property themselves and just want to sell it as quickly as possible. A lower purchase price on the front end, especially one that is lower than the current market value, makes it easier to obtain the financing needed to complete the sale, and also increases the chances of making a few improvements and reselling the house at a profit.

The idea of buying a probate house for resale in a short period of time does have some potential disadvantages. Factors such as the location of the property may limit the pool of potential buyers, especially if the property is in an area that is not considered desirable for some reason. In addition, if the home is found to need complete restructuring of the electrical and plumbing systems, the cost of repairs could easily diminish the amount of profit to be made from the venture.

When considering the pros and cons of buying a particular probate house as an investment, it is important to have the house inspected first. Make sure the basic structure is sound, and that the plumbing and wiring are both up to current standards. This will often mean dealing with cosmetic issues to bring the home up to date and increase the chances of a sale. In addition, pay close attention to the surrounding area. If the neighborhood is declining and there is no chance of a change in the near future, the potential to sell the home at a profit, even after improvements, is greatly limited. It is wise to go with a probate house that is in a desirable area of town, and can be modernized for a minimum investment, then sold for a significant amount above and beyond the overall investment.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including SmartCapitalMind, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.
Discussion Comments
By Terrificli — On Oct 09, 2014

@Melonlity -- How do you sell a probate house and get a good price for it? A real estate auction, buddy.

Here's the deal. You can sell both real and personal property at the same time through one of those. A lot of relatives love that option and for good reason. They don't have to go through the stress of packing up a house or any of that. Just hire a good auction company and let those folks do all the work.

Sell the house. Sell the stuff in it. Collect some money. Done.

By Melonlity — On Oct 08, 2014

Do you know what could hurt the value of a probate house? Letting people know it is a probate house. Here's what I mean. People assume they can get a probate house for next to nothing because the home was inherited and the heirs who own it want to dump the thing for a good price.

A good way to counteract that "probate house" stigma is to hire a real estate agent to list the thing just like any other house. That tactic can lead to a higher selling price.

Malcolm Tatum
Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Learn more
SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.