Absentee Owner and Vacant Properties
We have written this article keeping the absentee owner and as well as the real estate investor in mind.
We can help out both parties so read for more information on this topic.
What is an Absentee Homeowner?
An absentee homeowner, or absentee property owner is someone who does not personally manage the property they own. They do not live in it nor do they rent it out to anyone. Basically, it is a vacant property. Absentee owners do not live in the area or community where the property is located, hence the use of the term ‘absentee’.
We here at Home Solutions FLA, work in a unique way. When you contact us and provide us the needed details about your home through the form (available below), we will evaluate your property with our 20 Minute Professional Property Evaluation and give you a direct cash offer within the first 24 hours of you contacting us. The best thing… we’re ready to close the deal whenever you are.
Everything is up to you.
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Buying a Vacant Property from absentee owner
Many times real estate investors just overlook any house whose owners are do not reside in that city or area. But, what most of the amateur investors don’t know is that one of the most profitable real estate investment is of houses or properties with absentee owners. There are several reasons for that
- Most of the times, property owners cannot find suitable buyers and are stuck with a property they do not want. They have to pay property taxes and pay for its maintenance and upkeep. In that case, they will want to get rid of this property as soon as possible because it is just draining their pockets. Which is why they will be willing to sell you the property quickly and at a discounted price just so they could get it off their hands.
- If the property owner is not residing in the house, they probably have no emotional attachment to it. This happens in the case of many older abandoned houses. Unless the house owner is paying for the maintenance of the place, it will probably be a bit of a fixer upper. And fixer uppers cost less than other houses. So that is yet another reason why absentee owners’ houses would be a good investment for you.
- Some people inherit houses from far off relatives because they are the next of kin. But if they already have a good house to live in and cannot find the right buyer to sell the inherited one, they are also good examples of absentee property owners who just want to sell their vacant property.
- There are some amateur landlords who buy a place as a rental property and cannot run it properly due to lack of experience or substantial funds. Or they simply panic about handling such a huge responsibility and leave their project in the middle and disappear off to do something else. These are also people who want to get rid of their property and will be willing to meet with potential buyers who can quickly take the property off their hands. You can then try your hands at making that into a rental property again if that is what you have in mind.
These are some good reasons why absentee owners of properties would be willing to sell those properties. There are also many reasons why this is a good market for you to invest in.
The absentee owners’ real estate market is untapped. There are many investors out there who just do not realize that they can really profit from this investment. If you start marketing to this group of potential sellers, you can have a successful real estate business. Because many investor do not know what a jackpot this, they don’t know how to effectively market to absentee owners. This is where you come in. With our help you can find these absentee owners and send them letters to convince them why it is in their benefit to sell to you. Many absentee owners just want to get the property off their hands and that is a huge advantage to investors like yourself. This means they will be willing to sell the property at a price lower than the market value so they can get done with it. The paperwork for such an investment is also pretty simple. All you have to do is convince the seller and get a contract. Soon the property will be in your name.
Simple as it sounds, finding these absentee owners is not that easy. You will have to do mail A LOT of letters in order to find those owners who will be willing to sell their properties. You can and will end up marketing to some owners who are just not going to sell the property. To improve your chances with this investment, just make sure the conditions are in your favor, such as:
- The market is flat or steady. If there is too much fluctuation or uncertainty, the sellers will be hesitant.
- The interest rates are high
- Rental rates are low and there is a greater number of rental vacancies. If the rental business is not doing well, the owners might be convinced to sell off their failed venture.
We want to help you in any way we can and if that unwanted property is causing you stress, we’ll handle it for you! We will offer you an honest, fair and fast deal that you can’t really refuse.
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Absentee owners list
So how do you find these absentee owners? The first thing you do is decide where you want to invest. You can invest anywhere in the U.S. Since the owners doesn’t live on the property you don’t have to worry about finding a property far from where you live. Of course it will be harder to go back and forth to finalize everything and you even after you buy the property you will have to go back and forth for it, unless you want to be another absentee owner!
The next part is how you contact these absentee owners? Once you know where you are going to invest, you can order you list of absentee owners from an investment company. It is better to do this over the phone because you need to confirm a few things on the list, such as:
- Only houses that were built after 1950 should be included and are at least 10 years old.
- What is the size of property that you want? Don’t look for something too small or something too big because you don’t want a sprawling property on your hand that you cannot look after.
- Property should have at least 3 bedrooms.
- Do not get any condos. Get single family houses, town houses etc.
- Have at least 2000 absentee owners’ names on that list. The more names you have the better chances you have of closing.
You can order an absentee home owners’ list from home buying real estate investors like us as well at very reasonable rates.
If you can manage it, you can also make your own absentee home owner’s list but you will have to do a lot of work and research on your own. You will have to look through public address and find people whose residential address is different from the address of the property they own and see if the property really is vacant. Then visit the properties one by one to see if it fits all of your requirements. After you have to find out the mailing addresses of all the property owners. And there is a very good chance that many of the mailing addresses are incorrect or not up to date.
Absentee owners’ letters
Once you have your list, you need to start contacting the absentee owners. You can do this by writing absentee owners letters. The letter is not something difficult to write. You don’t want to beat around the bush so as soon as you introduce yourself in the letter, ask them what they have mind with regards to their property and give the address of the property. This is important because they might have other properties you do not know about. You can try to convince them but not aggressively. You can only suggest that they think about selling their property. One way to create an interest in selling for them is to talk about how the market’s is a buyer’s market right now in that particular area, if that really is the case. Don’t say that if that isn’t true because they could very well do this kind of research on their own. A good buyer’s market might pique their interest.
Tell them you understand if they do not want to sell right now but if they do have something in mind with regards to their property, you would be happy to have a conversation with them. Leave you contact number so they can get back to you and sign off.
Sell Your House Fast Today! Call Us Now! 561-370-8335
How to sell house by owner?
Now that we have discussed the options a buyer has, we can turn to the absentee home owners themselves and the sellers. If you are one of those people whose house or property has been sitting empty for a while now and you cannot sell it, we can help you. If this were a perfect world you would have sold off your property by now and moved on! Unfortunately, things do not always go as smoothly in the real world. If you haven’t been contacted by the likes of the real estate investors we mentioned above, we can give some ideas on how to sell an empty house fast so you can close that chapter of your life.
Fix it up
While fixer uppers are pretty popular, it is always in the interest of the seller to fix up the house. What you really need to do is make the property look like a house that someone will want to live. It may be a beautiful house but potential buyers need to see themselves living in the house. Also if the place has been empty for a while it might have attracted some vandalizer’s. This gives an unsafe look to the property and makes it harder to sell it off. So you need to spruce it up!
Repaint the house: Check to see which one looks worse off, the exterior or the interior and then paint that one if you do not have the budget or time to paint both inside and outside. It will really brighten up the place.
Clean it up: cobwebs aside, the place might have some stray animals or rodents inside, living or dead. Either way you don’t want a rodent running across the floor when a potential buyer is looking at the place. So get it washed and scrubbed and clean out the corners. Put some traps to keep rodents at bay.
Clear out your mess: if the house has some of your old mess in it you haven’t discarded yet, do it now. Potential buyers don’t want to see someone else’s things.
Contact your neighbors: if you cannot visit your property as often you’d like to, it is time to start contacting some neighbors. You just have to ask them to keep an eye out on the property and contact you if there are any vandalizer’s damaging the place.
Secure all possible entrances: since your house is vacant, you need to make sure that you lock the place up as securely. It’s a small thing that many vacant home owners miss. Vandals know when a place is empty so you need to lock up every possible entrance. Make sure all the windows are locked, including the attic and basement ones.
Keep a light on: you don’t need to do some heavy lighting. Just keep one or two small lights on. You can get those lights that switch on automatically when it gets dark. This is so our house has an impression of being occupied and the vandals stay away. Keeping the vandals is extremely important if you really want to sell your property.
Curb appeal: this is important because if the outside of your house looks bad, good luck trying to get your potential buyers to come inside. Hire a gardener or caretaker to come in a few times a week to clean up from the outside and maintain a few flowers and plants if you have those.
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