Investing in Inherited & Probate Homes on Long Beach Island
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Investing in Inherited & Probate Homes on Long Beach Island
The LBI real estate market is known for its high demand, limited inventory, and premium coastal pricing—but for some buyers and investors, there’s another side of Long Beach Island real estate that offers unique opportunities: inherited and probate properties. These homes often come with history, emotion, and complexity—but they can also present significant upside for the right buyer.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
How Buyers Find Probate & Inherited Homes in LBI Real Estate
Unlike traditional listings, inherited homes in the LBI real estate market usually aren’t widely advertised at first. This is one of the main challenges with investing in inherited & probate homes on Long Beach Island.
Home buyers and investors often find these opportunities through:
Local real estate agents with deep community connections
Estate attorneys handling probate cases
Direct mail campaigns to heirs or property owners
Networking within the Long Beach Island community
Monitoring older homes that haven’t changed hands in decades
Many of these properties come to market quietly, making local knowledge a huge advantage.
The Circumstances Behind These Sales on Long Beach Island
In most cases, inherited homes on Long Beach Island fall into a few common situations:
A family has inherited a home, but doesn’t use it or live nearby
Multiple heirs are involved, making ownership complicated
The property has not been updated in years
Maintenance has been deferred due to age or distance
For sellers, the priority is often simplicity and certainty—not necessarily getting top dollar. That creates an opportunity for buyers and investors in the Long Beach Island real estate market.
Example #1: A Buyer I Helped with the Purchase of an Inherited Home
I was involved with a buyer and seller in the purchase of a home that had been owned by the same family for over 40 years. After the owner passed, three siblings inherited the property. While I cannot go into specifics on this transaction for privacy reasons, below is a high-level overview of what took place.
Challenges:
Disagreements between heirs on pricing
Outdated condition (original kitchen, roof near the end of its life)
The property was vacant and difficult for the heirs to reach the home, as they all lived out of state.
How We Navigated the Transaction:
Together, we worked to:
Coordinate communication between attorneys and heirs
Provide realistic pricing based on current comps
Structure an offer that emphasizes a quick, clean closing
Purchase Details:
Purchased at approximately 15% below comparable homes
Required significant renovations
Outcome:
While the sellers could have sold for more on the open market, they were focused on an easy transaction that avoided conflict in the family. The buyer got a "deal," and the sellers, at their direction, had an easy sale. While they did sell for less than they could have, they viewed this as the ideal outcome. There were five siblings involved in the sale, so the roughly 3% difference per heir in the pre-tax sale price was not worth the extra hassle of selling on the open market, in their opinion.
Property Sold “As-Is” During Probate
In another case, a buyer I was working with and I identified a bayside home that entered probate after the owner’s passing. As with the story above, I cannot go into specifics for privacy reasons, but the transaction was as follows:
Challenges:
Lengthy probate timeline that caused delays in the sale
Due to the nature of the family's relationship, there was a need for court approval in the sale
The property had fallen into disrepair and was more of a teardown home than one that could be saved.
How We Navigated It:
The buyer and I remained patient and:
Stayed in consistent contact with the estate’s attorney
Submitted a strong offer early, then waited through probate
Emphasized the "as is" nature of the offer and that it would avoid added issues in the transaction
Outcome:
Once probate was cleared, the deal moved quickly, and the buyer secured a great building site below typical LBI real estate market pricing.
Common Challenges When Buying Inherited Homes on LBI
Across most investor experiences, several challenges consistently come up:
1. Probate Delays
Sales may require court approval, which can significantly extend timelines.
2. Emotional Decision-Making
Heirs may have sentimental attachments, leading to pricing disagreements or delays.
3. Property Condition
Many inherited homes in the Long Beach Island real estate market:
Are outdated
Need major renovations
Have hidden maintenance issues
4. Title and Legal Complexity
Multiple heirs, trusts, or unclear ownership structures can complicate the sale.
Key Lessons from LBI Real Estate Investors
From these experiences, several consistent lessons emerge:
Build a Local Team
Having a knowledgeable LBI real estate agent, attorney, and contractor is critical—especially when dealing with complex estate transactions.
Be Patient
Probate deals rarely move quickly. Flexibility and persistence are essential.
Understand True Costs
Renovations, taxes, and carrying costs can add up quickly in coastal markets like LBI.
Focus on Location First
Even for fixer-uppers, location (oceanblock, bayside, lagoon) is what ultimately drives value in Long Beach Island real estate.
Communicate Clearly
When working with multiple heirs, clear and respectful communication can help keep deals together.
Advice for Buyers Considering Probate Deals on Long Beach Island
If you’re looking to invest in inherited homes in the LBI real estate market, keep these tips in mind:
Partner with a local expert who understands probate transactions
Get pre-approved or have funds ready for a strong offer
Expect delays and build that into your timeline
Always conduct thorough inspections—even on “as-is” sales
Look beyond condition and focus on long-term value
Untapped Opportunities in Long Beach Island Real Estate
While not always visible on the surface, inherited and probate properties represent a unique niche within the LBI real estate market. For buyers and investors willing to navigate the complexities, these deals can unlock value that isn’t available through traditional listings.
As Long Beach Island real estate continues to attract buyers from across the region, understanding these off-market and transitional opportunities, and investing in inherited & probate homes on Long Beach Island can give you a competitive edge.
Whether you’re an experienced investor or just exploring your first purchase, learning from real-world experiences like these can help you approach the market with confidence—and uncover hidden opportunities along the way.
If your goal is to buy, sell, or invest wisely in the LBI real estate market, experience and local insight are essential. I'm Nathan Colmer, a Long Beach Island real estate agent with more than two decades of experience selling homes on the island, with a specialized focus on investment properties and second homes.
Because I personally invest in LBI real estate, I understand the financial considerations, risks, and opportunities unique to this market. From evaluating rental performance to identifying long-term value, I help clients develop clear, strategic plans—whether they're purchasing a vacation rental, expanding an investment portfolio, or positioning a property for sale.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
