My First Experiment
I wanted to find people who were 2-3 years behind on their property taxes. I figured that this would be a good indication of a posible distressed property. We have a public database here in Spokane County to look up tax accounts. The problem is that you can't query delinquent accounts. This lead me to try something. On my lunch break I went up and down 4 or 5 streets in a middle class neighborhood and wrote down every address that look suspicious ie.. dead lawn, uncut lawn, neglected landscaping, older cars, vacant. I found about 30. When I got back to work, I punched in the addresses and Bingo, I found a property that was three years behind on their property taxes. According to the most recent forclosere lists, the house has not been forclosed on. Also, I noticed from the info that the house was built in 1964 and It has never been sold. This could be the original owner with some sort of heartship. If it is the original owner I would assume that the mortgage has been paid way down since 1964. The house appraises for about 90,000 by the county. I went back to the house after work to see if I could talk to someone. The house seemed to be in above average shape. I rang the doorbell but nobody answered. I got a little spooked being there alone. It could be a meth lab or some deranged guy or something. I noticed that there was an AC running so there must be someone still living there. I would not have known what to say to them anyway. Could someone let me know what to do from here. Do i try to find a name or phone number? Do I just ask him if he want's to sell the house? Do I mention his tax problem and that the county forecloses on 3 years of delinquent taxes? If the guy is in trouble, I could maybe help him out and get a great deal on the house. Help!
i would knock then ask if he or she is willing to talk about some sort of deal win win maybe l/o if you could cause someone owned that long is attached and chances are they will sit until there is no more to sit on. hope this helps.
1. Leave a note on their door for them to get in touch with you.
2. Look up the owner's name in your local White Pages, maybe you can find a phone number and call them.
3. Find out how Tax Sales work in your area. Possibly you can pick the house up at the tax sale (or use it as a bargaining chip with the owner as to why he/she should sell to you).
I would tell the guy that you don't like bad things happening to good people. And then say all the things you mentioned, mention tax problems, has he/she thought about selling, how much would they want (let them mention numbers first, after 40 years, they might not know what the home is worth). If he/she gets the feeling that you are there moreso to "help them out" than to "steal their property", then they will open up to you.
Hope This Helps!
Mrs. Meltzer
Thanks for the repies. I will run up there today and try to get more info. I will leave a note and see what happens. I will keep you posted.
Does anybody know where I can find out the mortgage info on a property like this? Where would I start looking? Is there a magic place where I can type in the address and get the mortgage info? This info would be great to have before I talked to the guy.
I'm not sure which state you are in, since it's not listed in your profile. I'll assume Washington State ...
Start with the title company. Tell them you want a property profile. Ask if you can have it for free, because if you buy the house, then you will have them do your escrow and your title work!
Next, go to the county courthouse and ask the clerk how to find information on Real Estate.
Hope This Helps!
Mrs. Meltzer