Need Advice
I have recently found a property in a nice area. It is a new construction home that was never finished. Basment, base exterior and 1st floor walls have been studded. All comps in the area are selling for 200,000+. I talked to some neighbors and they told me the property was being built by a young contractor, who has seemed to ditch the project due to money problems. No one has been their to build in over year I was told. In my research I have found that the permits have expired, the name to who the property/land was sold to. But the person who bought the property is not the one who is paying the taxes. The taxes are paid up to date, but the person paying them lives 250+ miles away. I'm figuring maybe a relative of the original owner. I have acquired the address of the person who is paying the taxes, I would like to write him a letter inquiring about the property to see if he is interested in selling. What do you or what should I include in this letter?
The neighbors also told me that there has been many interested buyers(even some of the neighbors themselves), but it seems the original property owner is eluding all contact of any proposals.
Could the current property tax holder have bought the lien from the state?
IIs there any way I could find out if this is the case?
House details:
Property/Land price-$32,500
Work Done-$25,000
Repairs needed from neglect-$5000
Offer(est.)-$45,000
ARV-$200,000
My family business is in rehab contracting.
Any info and insight will be greatly appreciated.
Thank You
Do a reverse phone lookup on the address and/or name and phone the person. You can follow-up with a letter, but a phone call is more powerful.
Hi, is this Mr Smith. Mr Smith, my name is Mr Jones. I am calling regarding the property at 123 main street. I have an interest in possibly purchasing it. Do you own the property? ...
Brenda