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HOW do I legally own a deedless abandoned home?
There is an abandoned home in our neighborhood that is a year behind in taxes, but the odd thing is there is no deed to the property. The owner lives out of state so we tried contacting them certified letter but have not receive any answer for over a week now. Is the property worth investing in or is it a pile of legal problems waiting to happen?
Please give some of your inputs on this matter. Thank you |
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Investigate the house and see if there is a mortgage due... If the house is going to be forclosed on by lender you can try and pick up the house at the owed price or even cheaper. My neighbor was forclosed on, he had a 5 bedroom 2 story house, he paid 360,000 and a dentist just picked it up for 290,000+/- . |
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Hello p: If you haven't heard from the owner, then you're not going to be investing... Problems?? Buying ANY real estate is problematical. I don't know why this would be any different... But, like I say. If the owner doesn't want to sell, then it doesn't matter what you want. excon |
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