Foreclosed Home & Fire Damage

4 Replies

Noticed a 3 family dwelling on my street just became foreclosed on and everyone already moved out of the home.  Went on the city site and it states that Wells Fargo has possess of the home.  How am I able to get more information regarding specific of the auction or when it will happen?  Also, as I was driving around the other night, I also found another 3 family dwelling that has fire damage to the first floor.  This home has been boarded up for quiet some time based on neighbors.  I did go on the city site and found the owners name but nothing else.  Tried doing a search online but didn't come up with anything.  How am I able to find out her current address to send marketing to her?  Any help would be appreciated. 

@Debbie Camara Since it sounds like they already foreclosed and it's now bank-owned, usually they're going to list it with an REO agent so it will hit the MLS eventually.

If you're really interested in that specific property, then ask a real estate agent who you're willing to make the offer through, to set up a "saved search" for that specific property so you'll get an email as soon as it hits the market.

Even if they sell it through an auction process, I believe they usually put it in the MLS anyway, just with a description pointing people to the site/terms of the auction.

As far as finding owners of vacant properties, you can look up the owner name and (usually) address on the tax assessor's page (which I find via since it has links to all the assessors) and send mail that way.

Even if it's vacant and the owner is listing as living there, it's worth sending something there, as there may be a mail forwarding in place (long shot I admit).

Another good strategy is to talk to neighbors and see if they might know where the owner went - sometimes even a state can be helpful. Another one is to look at past documents in the land evidence records (again, linked from and see if any other states/addresses are listed.

The topic of tracking down owners is a big one and chances are there are a number of good threads on the topic here on BP. For example I've heard people recommend "skip tracers" or private investigators. While I've never used either personally, it's good to know they exist in case you're especially interested in one particular property and willing to put out a little $ to track down the owner.

Hope this helps!

@Anthony Thompson

Thank you very much for the help.  I will continue to look further into both properties as I know both would be great for passive income given that they are both within walking distance from JWU.  But that also depends on selling price & repair costs....  

"Has possess of the home"? What does that mean? They (Wells Fargo) either own it on title or they don't. No such thing as having possession. If you mean, they own it, well, you'll have to wait until they sell it before you can ask anything about it.

if you can find owner's information on tax records, or a prelim, there is where you get the info to contact the owner.

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