Buying & Selling Real Estate Discussion

User Stats

6
Posts
0
Votes

Found a Property Trying to Buy

Posted Jun 30 2022, 08:17

Hey everyone, 

So, I am trying to buy my first property and have been looking on and off the market. I found a property in my neighborhood that is in rough shape. I was able to find out who the owner is and that they are in fact delinquent on their taxes (confirmed through the county tax records) and in a hurry to get out. I was also able to chat with a neighbor who happened to be outside when I drove by. They told me that the owner is still around and back and forth moving their stuff out. 

My question is - now that I have found this property and confirmed they are in a situation where I'm assuming they would like to get rid of it, or face foreclosure. What steps do I take next? 

Thanks,

Upstate New York, New York

User Stats

45
Posts
31
Votes
Dalton King
  • Real Estate Agent
  • Melbourne, FL
31
Votes |
45
Posts
Dalton King
  • Real Estate Agent
  • Melbourne, FL
Replied Jun 30 2022, 08:27

If you haven't reached out to them yet I would say that is your next step. If catching them at the property to talk is hard because they aren't always there you could send a mailer or ask give the neighbor your info and see if they will relay your message and info to them. 

Are you planning on just buying to live there or as rental/flip? 

User Stats

6
Posts
0
Votes
Replied Jul 1 2022, 08:32

I want to Fix and Flip. And I have left my information with the neighbor but I don't have any contact information for the seller and it's now vacant. 

User Stats

22
Posts
14
Votes
Kyle Miller
  • Colorado Springs, CO
14
Votes |
22
Posts
Kyle Miller
  • Colorado Springs, CO
Replied Jul 10 2022, 11:35
Quote from @Matthew Cabic:

I want to Fix and Flip. And I have left my information with the neighbor but I don't have any contact information for the seller and it's now vacant. 

Any luck getting in touch with the owner? You could look up the tax address online and go knock if it’s another residence. Couldn’t hurt.

User Stats

6
Posts
0
Votes
Replied Jul 10 2022, 11:42
Quote from @Kyle Miller:
Quote from @Matthew Cabic:

I want to Fix and Flip. And I have left my information with the neighbor but I don't have any contact information for the seller and it's now vacant. 

Any luck getting in touch with the owner? You could look up the tax address online and go knock if it’s another residence. Couldn’t hurt.

Yes. I ended up getting in touch with the daughter of the owner by catching them at the property. I was able to express my interest and they were willing to hear me out and work together. However, as the story developed and more details came to light. It was the mother who was the owner and she died without a while and there was no legal records to indicate the transfer of ownership to the daughter who I was speaking too. In addition to that there was a very short notice (24 hours) from when I got in touch with the daughter to pay the back taxes before it would be officially in foreclosure. So, to wrap it the daughter didn’t have any legal rights to sell the property and we missed the window of becoming whole on the property had she actually had any rights. 

Still on the hunt for my first one but, consider this a win that I’m having the conversations and learning.