Re: HELP! - Posted by Elizabeth NJ
Posted by Elizabeth NJ on May 08, 2006 at 12:08:01:
Most of what I buy is abandoned properties.
You can use any number of search tools to track down the owners: zabasearch.com is a good one, also searchbug.com, but my favorite is the local phone book. Call everyone with the same last name as your missing owner and simply state you’re looking for that person because that person owns a house you want to buy. DO NOT give out the address of the property or you will lose the deal to one of the people you call. Also be sure to tell the people you’re calling that you’re not a bill collector & not selling anything; otherwise, they might hang up on you.
Once you find the owner, you have to structure your offer to make it clear to the owner that you’re paying off all his outstanding liens on the property which will help clear up his good name & his credit in the future.
Also call your town?s tax collector?s office, or go in person , and ask for a breakdown of all outstanding taxes, including certificates, and any other third party liens on the property. Some towns charge for this information, but it?s usually a nominal fee, and well worth it because it will give you at least a starting point for determining outstanding liens on the property & help you determine your to the owner and still make money. Remember, you’ll still need a title search.
If the owner is deceased, then you’re going to have to take a lot of additional steps to buy the property.
The work in this kind of deal can be quite tedious so prepare yourself & see it through to the end.
Good luck with this. Let me know how it?s going.