![]() With no way to check the water, electricity, gas, heating and cooling systems, or appliances, even a professional home inspector will be unable to thoroughly evaluate the house. One major risk? Abandoned homes usually have had their utilities turned off. ![]() Due to months (or years) of neglect, a lack of maintenance, and overall aging, vacant homes are far from pristine. Risks involved with buying abandoned propertyĪbandoned homes will almost always have issues. If the property has had liens or tax problems, the owners might be more willing to sell. You could then try tracking down the owners and asking them to sell their property. It will have information about the homeowners, the home’s current appraised value, liens, or tax problems. If you find an interesting unclaimed property like this, visit your county clerk’s office. ![]() You might also check into the laws regarding unclaimed property and whether there is a statute of limitations on its return. Some properties may look abandoned, but are not listed for sale. Real estate agents will usually have valuable knowledge of abandoned properties in the area and the law relating to claiming them, and can provide you with a selection of homes about to be foreclosed on by the bank. Various lists of abandoned properties or unclaimed properties are available.Ĭheck for listings of homes for sale with certain phrases that may indicate an abandoned property, such as “immediate possession,” “must sell,” “below market value,” or “under appraisal.” Most abandoned homes for sale are on their way to foreclosure, but the bank has not yet initiated the process.
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