Don't Get It.
There are a number of vacant properties in my area that I have been researching. I don't understand why someone owns/inherits a property, continues to pay taxes on it and lets it sit vacant and rot. I have sent out letters to a couple owners and am awaiting responses. Anyone have any luck with these or gain any insight as to why people do this?
The new owners could live too far away to manage the rehab, they could be elderly & ill, maybe the just don't care. I would try to continue contacting them if you can - I think one day you'll get yourself a piece of property that way! Good Luck!
Just keep cracking. I have used this approach before. It takes a little patience. Just remember its a numbers game, send out as many letters as possbile. Try to follow up with the assessors office. Some offices have the owners phone number available. If not try to look it up on switchboard or something. Call them. I start with the list of properties that are behind on taxes and set for auction in the next 6-12 months. These people are highly motivated especially when you tell them they have to come up with cash now to save thier property from auction, or sell to you subject to the taxes. Good luck!
If you can't afford upkeep, an inherited house can be a money-draining liability, not an asset.
We just bought a place like this-- inherited from the grandmother, but the kid couldn't afford taxes, repairs or upkeep. She hung onto it because it was Granny's House
Only the wolf was at the door eating away at the siding--
MB
I find that there is a reason that a house has been vacant for more than say two years. They are decent prospects, but not good prospects. The house has been vacant for more than one year, how many letters do you think they have already gotten, and still they do not sell it. I have better luck with newly vacant houses.