How To Find Information On Unlisted Vacant Land...
Hi Group,
I had a quick question. I live in NYC, and there are vacant lots that do not have signs for sale, nor do they have any viewable construction intentions. I would like to possibly place an offer on the lot.
I'm wondering where I could go to find information on specific lots?
-Angel
You can try the courthouse. Or look-up the tax number. All property information is made public. Ther ought to be a NY county website with the listing.
Good luck!
swagman
method 1)
find out who owns it...
if it doesnt have an address, look up an address nearby in the tax roles, and see what the legal description is. You MAY be able to infer from that legal description what the one nearby's legal description is... sometimes they are simple "block 1, platte 2 bla bla bla", sometimes they are exceedingly complex, and only make sense to a surveyor.
If u can find it, you can then write the owner.
Method 2)
Put a for sale by owner sign on it, with your phone number. and when he calls you to ask you who the heck you are , explain to him you want to buy it. LOL
Has anyone tried method two before?
A good source to approach for control of land on a run a way up market. Like today.
I merely note down the addresses of the houses on either side. I call the Title Company and they give me the owners name and address (where the deed was sent or where the tax bills go). I then contact them and they tell me the enormous sum they want for the land.
I agree that it is possible. I then attempt a close on a 99 year lease. Small yearly or monthly payments. I now control the land. I also include with the lease an option to purchase. Generaly at a price over the present market. My game plan is of course if market goes up I have a profit. If market goes down, I will negotiate with them for future sale at of course that new market price which may be, so sad, for less money.
I may build on site borrowing the money on a leasehold interest. Or I may have the ultimate buyer negotiate for the loan to build the house on which I will of course make a profit. I will charge him a land lease payment per month slightly more then what I have to pay and I will of course have executed a sandwich lease to him for say 45 years. His loan may run for 30 years and then he has 15 more years to enjoy the house having paid for it. He of course continues the lease payments and at the end of his lease all improvements of course revert back to the leaseholder which is me. I will of course probably refinance and buy the property. Win Win Win. Of course there is one rather large problem. I shall not be here for all these years. But my grandchildren and their children will be here and with this type of income they can all become Art Majors, take PhD's in Art History and turn up their noses at all us poor slobs trying to make money.
My children now that they are propertied and have steady incomes, have a tendency to turn up their noses at such crass investment oriented persons like me. I sometimes think I am listening to a lecture from an "Annie Besant" in Metaphysics, as they give me book and verse on the horrors of a money oriented view point toward life.
Nothing like a well stuffed checkbook to give you time to examine the world and embrase new artistic and philosophical concepts
And thats the way it goes. Cheers Lucius
Well Angel, I don't have any creative suggestions like redbloodhound (though I like his #2 suggestion very much let me know how it works) so I shall just give you the mundane answer.
In every county there are two government officials who's job it is to keep track of who owns what property. The county recorder of deeds can tell you who last recorded a document saying that they purchased, mortgaged, sold or otherwise encumbered the lot in question.
The county collector can tell you who he sends the tax bill to and where it goes.
Either of these officials will need an adaquate description of what parcel you are interested in. The recorder probably uses a very old system known as the legal description. Someplace in his office there will be an index for moving from the street address to the legal description. Ultimately he also has a series of maps (called plat maps) which describe each lot and list its legal description.
The Tax collector probably uses a more modern system called a Property Identification Number or something like that. He will, likewise have an index which allows you to translate the street address to a PIN number.
Great plan Lucius, give 'em anything they want for a price as long as you get it back inthe terms.
Re: More information on 99-Year lease?
Hi Group,
Wondering about where I could find more information on securing properties via a 99-year lease agreement.
thanks,
Angel