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Updated almost 6 years ago on . Most recent reply

User Stats

12
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3
Votes
Kim Rosinski
3
Votes |
12
Posts

Abandoned Properties/Deceased Owners

Kim Rosinski
Posted

I've stumbled on 3 abandoned homes recently near me. One home the husband passed, I did find the wife and asked if we can talk about the home, she offered it to me for full price?! After research she owes $5500 in back taxes. This time I sent message (she won't answer by phone but I get a response via social media) and shot her a price. NO answer. Waiting a few weeks and again, same price, no answer. 2nd home has black mold warnings on the front door, owner has passed. I called and sent a letter to the owners daughter, no reply. 3rd property, same area. Owner deceased, found 2 daughters and just sent them a message with my phone number since my letter went unanswered for this one. Are any of these worth pursuing? All homes worth $150-175k range (sorry, I'm new to this so don't know the proper terminology.) The market in this area is VERY hot right now. Illinois taxes have risen dramatically and a lot of people rushing my way (Indiana, 30 min south of Chicago) It sounds like there's a lot of legalities and it's a long shot getting these homes if there's no estate and on the last 2, I don't believe there is. Thoughts? Advice? Or anyone with experience interested in buying referrals? Ha ha.

Most Popular Reply

User Stats

549
Posts
411
Votes
Geordy Rostad
  • Real Estate Broker
  • Kirkland, WA
411
Votes |
549
Posts
Geordy Rostad
  • Real Estate Broker
  • Kirkland, WA
Replied

@Kim Rosinski

You can't really twist anyone's arm in a situation like this. They are either interested in selling or they are happy to let it rot while thinking they are sitting on a goldmine.

I have some advice.

1) Keep doing what you are doing and be persistent. 

2) Go talk to the neighbors of the homes. The neighbors will definitely want to see these properties move to new hands and be cared for again. The neighbors will have lots of valuable insight and once they figure out that you are there to help solve a problem they have, they will be glad to tell you everything they know in most cases.

When I was a baby broker just learning the ropes, one of my trainers said something that stuck with me for all these years:

SW SW SW

(Some will, some won't, so what)

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