Investors and agents are constantly looking for the best home deals in good locations. To get the best deal, with little competition, you might begin to consider an abandoned house. Abandoned houses are buildings left by their previous owners either due to foreclosure, financial or legal issues.
Abandoned houses are not the same as vacant homes. Vacant homes have only been vacated by the owner for a while, meaning the property owner can still come back at any time to claim it. Abandoned houses, on the other hand, no longer belong to the previous owner. If its abandonment is due to foreclosure or other financial issues, the building might now belong to the government or other institutions.
Investors or interested buyers looking to buy an abandoned house can take the following steps:
Find the House
This is the first step to finding any property, and since abandoned houses are not always listed, you need to consider other options to find them.
- Look out for houses with overgrown grass and weeds, faded paints, or other structural damages.
- Ask the neighbors around any house that seems abandoned to get enough information about the property’s previous owner.
- Ask the mailmen or delivery carriers if they have spotted any house that appears abandoned in that location.
- The county clerk always has information about the properties in the area. You can walk up to their office and make inquiries.
- Look out for local property auction and attend one; sometimes, abandoned houses are always on the list.
- Ask the realtors in the neighborhood as they might know some abandoned houses.
- Visit the banks to ask if they have a list of properties under foreclosure.
Find the Owner
Once you have been able to find an abandoned house, the next step is to find the owner and contact them. There are a few ways you can find the house owner since it has been abandoned in the first place. One of the best ways to do this is to check out the county’s tax assessors website. They always have all properties listed on their website, whether abandoned or occupied, and the chances are high that you will find what you are looking for on the site. However, you might have to pay a small fee to get this information. If you feel you do not want to pay, you can ask the people in the neighborhood, but it is unlikely you will get an answer on time.
Inspect the House and Seal the deal
This is one of the essential steps of getting an abandoned house. For a building to be abandoned, it is most likely that it has several issues already. Some of the issues can be solvable, while some other ones can be major. For instance, a bushy environment and dirty walls are relatively minor, and you can always handle that. However, if the problem is foundational, it’s best to reconsider your choice and maybe look out for other options.