Missing person property

3 Replies

Evening !

So I have a weird situation and would like some feedback in regards to it. So I was looking for some properties this evening and I found a potential. I research the property and find that the owner has not paid taxes since 2013ish and the property is now in the state of being foreclosed due to that. I then began to look for the owner to do a cold call and also send a mailer. As I'm looking for him his name pops up in WebSleuth as a missing person since 2018. I see he has relatives, should I reach out to them or should I leave it alone? I drove by the house and it is really, really run down.

At this point would it even be possible to get the home, since he might not have a power of attorney seeing as he is missing?

Thoughts, ideas?

it's in a good town where I live, it has unpaid taxes on it around 30k it could easily have an ARV of 130k. I say really bad only cause it sticks out like a sore thumb, I've only seen the outside and the vegetation has taken over.

On a property like that, I usually try to walk around and peer through the windows. (a small step ladder is helpful for that.)

The taxes are delinquent that long and just now they're taking action? You said something about "foreclosure", did you mean a tax sale/auction for the back taxes or is there a bank foreclosure involved?

If it's going to be a tax sale, I'd say to go ahead and try to buy it at the auction. Then the family will likely get in touch with you to redeem it. In most municipalities, there is a redemption period where they can get it back from you so you wouldn't be able to work on it (or wouldn't want to) Those periods vary from maybe 6 to 12 months but you'd have to find out what your local rules are on that. (in Georgia, it's 12 months, 6 months in CT) You would still financially benefit, just wouldn't wind up with the property. The back taxes may be more than the property is worth in its present condition.