Do you know what is an abandoned property such as a house? And, how to get the abandoned property for free? Well, the abandoned houses are vacant properties because of bankruptcy, foreclosure, and legal or financial reasons. Mostly, the reason for abandoned houses is financial reasons. Then, the house of course needs renovation more because it has run down. Then, it can be a great chance for investors to get it free or even with a big discount. Yeah, usually, the owners will sell the house at a perfectly lower cost than the price of the market. Well, do the following tips to get it!
Finding an abandoned property/house
The first thing you should do is to find the abandoned house. To find it, you may do some ways:
- Searching houses that seem abandoned. An abandoned house has common signs such as overgrown weeds and grass, faded or chipped paint, no car or motorcycle in the house’s driveway, and also other structural damages.
- Coming to the office of the county clerk. Generally, the government must have various records on the ownership of property. So, you may visit the office and get information about the abandoned home.
- Looking at the auctions of property in the nearest area.
- Calling a local realtor and also inquiring about an abandoned home. Asking a bank if having the home lists under foreclosure. A homeowner facing foreclosure or bankruptcy sometimes will abandon his/her house. If it has happened, the legal case/process will need a long time. So, this way is good for you.
Tracking down who is the real owner of the property then contacting them
How to know the property’s owner easily? One of the easiest ways is that you can check your assessor’s website of the county’s tax. But, you need to pay some. Don’t worry! This way is well worth it. Though you do not get the real abandoned property for free, at least, you can get a special discount or profit by making a special offer.
Inspecting the house and making an offer
You should inspect before you decide to buy, even if it is about that abandoned house. You may not know clearly why the owner abandons the house. Sometimes, it is because of foundation issues, structural damage, or other reasons. So, you should account in detail the cost of its renovation. It is to ensure that you will get a good profit when you buy that house. When you have decided to buy the house and accounted for the cost, you take the time to have an offer. You can deal with the house’s owner, government, or bank.
This is some information about the abandoned property for free or a great discount.