Q:

How do you find abandoned properties for sale?

A:

Quick Answer

To find abandoned properties for sale, locate any abandoned property of interest and visit the county recorder's office to search for the name of the owner or lien holder. Contact that person, business or bank and inquire if the property is for sale. If it is, ask for a price and any terms to buy.

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Full Answer

Locate listed abandoned properties in classifieds or online real estate sites. These properties typically say "below market price" or ask for a fast sale. Contact local lenders, real estate offices or a local tax collector's office for properties not listed. Occasionally, one may happen upon abandoned properties without searching for one. These require research to locate a point of contact, so write down any pertinent information for reference.

If possible, locate the owner and negotiate an outright sale. Many times, the property is in foreclosure and the buyer may need to attend proceedings to be eligible to purchase. Occasionally, the property is up for auction, which requires the help of a real estate attorney. It is easiest to purchase the property in cash, but it is not always possible. If the buyer needs to obtain a mortgage loan, the buyer must have the property appraised, have a plan of action for making the property habitable, and be eligible for financing.

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