Disposing of unwanted property

[Mark Yuschak]

This past summer one of my rental properties burned down. I worked through the claim process with the insurance company and properly had the house demolitioned to meet City codes. So, now I have a vacant lot in an urban area.

I quit paying the property taxes on it and owe about $650 to the City. At the end of the year when it's reassessed the taxes will go down to $11 a year.

What are some things you guys have done to get rid of unwanted properties? I'd like to donate it to get the tax write off, but have been unsuccessful so far. Here's what I've tried:

Contacted the neighbors to see if they want it
Contacted all the local churches to see if a parishoner wants it
Contacted Habitat for Humanity
Contacted the City to see if they just want it back (before tax foreclosure hits)
Contacted the Land Bank (charitable orginazation in the area that helps reduce blight in the City)

None of them have interest in it because it's not in any of their revitalization zones. (The parcel of land is in a nicer part of town).

So, all this being said, what do the bulk REO people do to get rid of their junk properties?

I never thought it would be this hard to give away real estate. lol

[Jim Wineinger]

Go to your county office that conducts the tax sales and find a way to pull a list of several of prior years tax sales.

This list should be public information as far as name, parcel, and sales amount.

Then advertise your property to the names that come up several times on those list as a "pre-tax sale" sale.

You should at least be able to find some local investors to add to your potential buyers list even if you get no takers on your property.