Deceased neighbor with run down house-opportunity?

Deceased neighbor with run down house-opportunity?

Real Estate Agent · Lynchburg, VA · Member since 2017 · 14 posts · 7 votes

I have a neighbor whose house I have been eyeing for some time because of how run down the property is. I’ve never met him before, but I found out today that he recently passed away. If I was still interested in this property, how do I find out when or if it becomes available and who would sell it?

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Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
6y

@David Evans the advice @Karl B. gave can work well, In addition since you live next door I'd keep an eye on the house and introduce yourself to anyone that comes to pack up the items at the property (if the happens) get a sound strategy for approaching the family of the deceased, probate can be touchy based on the emotional state of the heirs. Here's a great article from The Balance that breaks down how to get probate lists

https://www.thebalance.com/loc...

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  • Rental Property Investor · Chesapeake, VA · Member since 2017 · 100 posts · 75 votes
    6y

    Hi David! I found this article that may be somewhat helpful in understanding the process that happens after someone dies. Good luck.

    https://retipster.com/deceased...

  • Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
    6y

    Look at his obituary to learn who his family is. Contact them (Facebook works well or you can try and locate their e-mail address(es)) and a week or so after the funeral send them a message. 

    Or if you see anyone at the property go over there and introduce yourself!

  • Real Estate Agent · Sacramento/Placer ~ San Francisco Bay Area counties · Member since 2012 · 1k+ posts · 743 votes
    6y

    Request a copy of the death certificate from city public offices. Whomever filed it out will be your first point of contact.

    If there is one on file research if administration for probate has started,,

  • Property Manager · NJ · Member since 2017 · 786 posts · 396 votes
    6y

    @David Evans the advice @Karl B. gave can work well, In addition since you live next door I'd keep an eye on the house and introduce yourself to anyone that comes to pack up the items at the property (if the happens) get a sound strategy for approaching the family of the deceased, probate can be touchy based on the emotional state of the heirs. Here's a great article from The Balance that breaks down how to get probate lists

    https://www.thebalance.com/loc...

  • Real Estate Agent · Lynchburg, VA · Member since 2017 · 14 posts · 7 votes
    6y

    @Vaughn Smith Thanks! That’s a good article with some good advice.

  • Real Estate Agent · Lynchburg, VA · Member since 2017 · 14 posts · 7 votes
    6y

    @Joshua Saunders Thank you!

  • Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
    6y

    “ I’m a neighbor you never met .Sorry about Dave I’d bet he was a great guy , hey by the way can I buy his house cheap ... cuz ..mean it is pretty run down and whatnot and let’s face it he won’t need it anymore “

  • Rental Property Investor · Olympia, WA · Member since 2012 · 543 posts · 311 votes
    6y

    @David Evans, the article posted above by @Vaughn Smith, titled "Buying Real Estate from Dead Persons"  does a good job of covering the typical scenarios.  In the very rare instances, where the relatives of the deceased owner(s) can not be found, it may also be possible to simply assume possession of the property and start using it as your own, as is discussed here.  

    https://www.biggerpockets.com/member-blogs/12388/86773-renting-real-estate-without-the-owners-consent-isn-t-that-fraud

    Do be aware that taking over real estate which has been abandoned is a highly specialized real estate activity.  Being successful requires considerable research.   Best wishes.

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