Is everything truly for sale

[Michael W. Murray]

Have a look at 854 Rosecrans St., San Diego, CA 92106. It is a shack sitting on top of a gold mine (figuratively). I pass this home every day. I have never knocked on the door, but I have been close enough to see, among other travesties, bees swarming in and out of the walls of this home. The location, however, is a million dollar piece of real estate. What are the best resources to use for investigating this (or any) property to determine why a dilapidated shack sits atop prime real estate? Will a visit to a tax office reveal problems with the land such as zoning or poor foundation? Will trip to the courthouse reveal that rival siblings inherited the home and can’t agree on terms for selling the property? I feel as though I have found a buried treasure but I don’t have a shovel to dig it up. Please help.

[Frank Wong]

Hi Michael,

1. Are you ready and capable of buying such property?  Are you ready to make a cash offer?  If not why waste the time.

2. You can start by pulling up public records and see who the owner is.  

3. It's not a buried treasure its an old house sitting in a million dollar neighborhood.  You are not the first one to drive by it or see it and have these thoughts.  I am sure a developer has approached the owner. Look at the street it's on.  All homes developed. 

Now I think you can certainly try but I think you need to be well prepared prior to the attempt. Prepared meaning do your homework and have finance lined up.