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Updated about 10 years ago on . Most recent reply

Claiming abandon distress properties
I have recently stumbled upon a property, which seem to be abandon and has gone through fire damage. Now i have done the due diligence of trying to track down the homeowner which in the title search seem as if they mite be deceased. Question is how do i go about trying to claim this property when it appears the homeowner is unreachable with no surviving relatives. What would be the process or steps needed in order claim this properties. Any advice or suggestion would be much appreciated.
Most Popular Reply

OK first thing to do is check the property taxes, being paid and current? if so someone is doing something with the property, an heir or someone is out there.
Taxes not being paid, then check for liens. I had a few cases where I bought the liens and foreclosed. no one ever showed up except for some bidders at the sale. another had no liens except the property taxes and I knew a young struggling couple and suggested they move in pay the taxes in installments like a low rent and hold themselves out to be the owners. In California it only takes 5 years to take over a property, check out your state. This couple stills owns this property 20 years later as a rental. They keep it as a reminder of where they were and never want to be again.
Are the owners dead, could be and no known heirs to handle things and it is just sitting there, the burn out due to squatters. Check the death records with the state, ask the neighbors when was the last time someone lived there. Turn into a private eye. The good news is other investors give up quickly on a property like this and you will probably be the only one working on it.