Advice Needed on Vacant House

[Justin S.]

Recently, I was driving for dollars, so to speak, and stumbled on a vacant house that I had not seen in the past. It is well kept and there clearly has been some property preservation occurring. The utility service had been removed but furniture was visible through the windows which lead me to believe that it was likely a probate property. 

I searched the tax records and located the owner's name and determined that all real estate taxes were current. I then searched the local obituaries and, sure enough, the owner had passed away approximately three years earlier.  So, somebody had been paying the taxes and maintaining the real estate in decent condition. At that point, my thought process was either an absentee family member or a lienholder were ensuring the paid taxes and integrity of the house. 

I went back to the obituary and the gentleman left only one child. I contacted the child and he let me know that he had nothing to do with the house, that no estate had been opened and that there was a mortgage, albeit not much of one, with one of the largest financial institutions in the Country. I confirmed with the Probate Court that no estate had been opened and now.........

1. What's my next step?

2 What is the potential game plan of the lienholder for holding on for over three years, paying taxes and maintaining the real estate?

3. Is it possible that this financial institution has simply overlooked this property?

Any insight would be greatly appreciated.  Thank you  

JWS