Newbie Question_interested In Rehab Property But Cannot Locate Owner Yet
Hello Forum.
Thank you in advance for any info you can provide.
I live across the street from an abandoned property that has been in that condition for almost two years
I have been unable to locate the owner yet but the local buzz (nosy neighbors) indicate that the owner has a 40K tax lien on the house
?-Does it make since to perform a title search now to ascertain if any other liens are on the house? (for all I know he may not be interested in selling and now I'm out of title search fees)
Same with an appraisal and/or rehab www.estimates.I would like to do the due diligence on the house and find out what the it is worth before and after repairs.
?-Should I also do that before I'm able to contact the owner that way I can make a reasonable counter offer? (if he's even selling)
Similar houses in the area are valued around $110K.
This will not be a flip. I plan to rehab and rent one floor and live in the other for a year or two.
Thanks for any help
"...locate the owner..."
Do you know the owner's name, and can't find him/her?
Or are you unable to identify the owner's name?
Do your own title search, i.e., the deed registration and liens are public records. Go to the recorder's office at the county court house. You should be able to get access to the deed book, etc, if you have the address.
In Wake County NC, much of that information is online, and I can ID owners, including addresses and property account numbers, see delinquencies on tax bills, photos of homes, aerial photos of the properties, and plot maps. (We have NO privacy. LOL )
I love seeing photos of homes, as I rule out some properties that do not meet my admittedly subjective criteria.
Gets me a head start.
You may have some information on line, on your county or municipal Web Site.
None of that is substitute for a formal title search and insurance prior to purchase, but information is strength.
[addsig]
On a similar posting on this site, the website: www.deadleads.com
was recommended. I think they charge $25.
I'd contact the owner first. No need to be out of money for an appraisal, etc. Besides for appraisal, and accurate repair quote you would need access to the property. It would be nice to have the owners permission. He/she would understand that you would want to look at it before presenting a formal offer.
Good Luck!
just go to the tax collectors office and they get you the apn# and that will help you seach county records for liens.
Thank you all for your reply.
I have been reading posts on how to search titles and it is still a bit confusing for me.
But I think this would be a good first deal for me so I will put forth the effort to find out everything.
Thanks again