How do you buy abandoned houses?


Quick Answer

Individuals who want to buy an abandoned house should approach the process in a similar manner to buying a more traditional piece of property by taking steps, such as planning for the purchase and getting pre-approved for a home loan working with a Realtor to make sure the purchase process runs smoothly, as stated by Realtor.com. In many cases, abandoned homes are in the foreclosure process, but are still in the hands of the owner, who may use phrases indicating urgency in a classified ad or other home sale listing.

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Full Answer

It is also possible to buy an abandoned home through observation. Houses that look unkempt and otherwise appear to not be inhabited may well be vacant, and it is possible for prospective buyers to find out who owns the house through a variety of different means, including going to a county clerk or other official office to inquire about home ownership records for a particular address. Asking neighbors or looking for addresses on mail (without removing the mail from the mailbox) can also be an effective way of finding out the owner's name, notes CREOnline.

After tracking down the home's owners, it is important to get the house appraised and inspected before purchasing. Abandoned homes may have structural deficiencies, tax liens or other financial baggage that should be assessed prior to purchase.

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