Posted by Suzanne on June 23, 2000 at 24:29:23:
Did your son find this house through the “I Buy Houses” advertising on his truck?
Vacant for 3 Years - Posted by Scott
Posted by Scott on June 22, 2000 at 22:55:41:
I am interested in flipping a property that has been vacant for 3 years. I can purchase this 3BR single family home for 10,000. I am willing to invest 10,000 and found that comparable houses have been selling for 45,000. Have I just fell of the stupid tree and hit every branch on the way down???
Any thoughts or suggestions?
Opinions most welcomed.
You can… - Posted by AL (Ohio)
Posted by AL (Ohio) on June 22, 2000 at 23:54:30:
Contact the county tax accessor’s office, and find out if they have an online service that allows you to check the status of the house. i.e. past owners and their addresses, who the lender is, but, if they accessor’s office isn’t online, just go down there and ask to look in their card file for the property of whatever address you are looking at.
On the card will be the pertinent information, past owners, back taxes, lender, etc.
If the yard is all grown up with weeds etc. you might contact the city engineer’s office or such, where the city nuisance inspector would be located. They are responsible for ensuring properties are kept to a certain standard, i.e. grass mowed, no cars on blocks, etc. They might have record of this property, and sent the owner a notice, which they would have to answer in court.
You could go to www.anywho.com and perform a reverse lookup. This would give you all addresses on the street, and if there is still a telephone number assigned to the property, would give you the number and/or name. Additionally, this will provide you with the neighbor’s phone numbers and names. Then you can ask them if they know what happened to the owners.
Of course, check with the courthouse first, and also pull up the neighbor’s houses if you want to determine if you are talking to an owner or a renter.
fyi,
If the house is going to be foreclosed on, you can buy out the bank’s position, and foreclose on the property.
Additionally, check and see if there is any mail or newspapers at the house with the last owner/renter’s name on it. Then you can contact the owner/renter for their address and make an offer.
The post office probably would have a post office box for the address?
You could contact the utilities, gas, water, electric, and find out whose name is on the account. And more info if they will give it out.
Re: Vacant for 3 Years - Posted by george
Posted by george on June 22, 2000 at 23:29:53:
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Can you find the owner? It is a troubling fact but people seem to disappear sometimes.
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Does it have a million dollars of liens on it?
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All vacant houses are vacant for a reason, sometimes not a good reason, but a reason after all. You can waste allot of time investigating such properties.
Re: Vacant for 3 Years - Posted by Laure
Posted by Laure on June 22, 2000 at 23:28:11:
Could be just a good deal. You have to do some digging, but make a formal offer, on paper, and get it SIGNED NOW ! Contingent on: Inspection, free of city violations, etc. Cover Your Assets. Go to city hall and see if there are known problems with the property. Call a Realtor and get a Current Market Analysis (ONLY after you have the property tied up) Ask Realtor how long it would take to close on the property when you list it for sale.
It could just be a great deal ! You never know. The sellers could just need the cash fast and not want to dick with the property anymore. Happens all the time.
My son just closed on a house today. Paid 19,200 and retail is 45-55k. Just needs paint and carpet. He hit it lucky on this one, for sure.
Good luck.
Laure 