Distressed properties are easy to buy but not easy to get. So, you have to make a plan and do some research to get those properties. However, you can take a look at these below guidelines to get an idea of how to find distressed properties. But don’t rush or bother the property owner.
Guide to Find Distressed Properties
You can use these ways to get distressed properties at a great deal.
Senior Citizens
A big property is hard to maintain even for adults, so it’s harder for elderly persons to take care of their property. That’s why most elderly persons sell their houses and move to smaller properties that are easier to maintain for them. Now, most of those elders consult with the direct marketing companies, so if you check on those companies, you will find those owners and distressed properties.
Listing
There is a possibility to find properties on MLS search, but depending on the market, it would be rare. However, the best way to find distressed properties would be searching on the sites that list homes that are for sale by owners. You can find them in newspapers as well by paying a little attention to them. These types of properties are easy to get since convincing the sellers is easy here.
House Sale Sign
You can drive around your neighborhood and take a good look if anyone has hanged a house sale sign on the yard. At the same time, you can also check on the FSBO websites for distressed properties.
These types of owners are motivated and willing to negotiate, and you will get the house at a great deal.
Bankruptcy or Divorce
You can say what divorce has to do with property selling. Well, in most cases, people who get divorced are highly motivated to property sale and leave the town as well as the people who bankrupted. Now, most of these people are going to liquidating their assets and won’t have the time to list and sell their homes in the traditional way. So, you will get the chance to buy their properties.
Bankruptcy and divorce notices are published in the legal section of the local newspaper, where you should pay attention. If you find them, send a handwritten letter with your proposal.
Purchasing Lead Lists
Getting a lead list can be a great investment to find a distressed property. The list contains information on an expired listing, foreclosure prospects, deaths, absentee owners, divorces, and another scenario that indicates the house owner will be motivated to sell the property.
Advertising
It’s an excellent way to get distressed properties. Ads will attract those owners who want to sell their properties. Now, if you have the money, expertise, and time, then you should advertise directly to homeowners. You can use some of the best marketing tools, such as billboards, radio ads, direct mail, and TV commercials.
On the other hand, you can also advertise through some uncommon marketing ideas that include social media. Further, you can just hire a person who will help you in marketing if you don’t have time or ability.
Attending Auctions
The auction will help you to get some properties that you are looking for. You can get those properties at a great deal. You only have to keep your eye on the newspaper for auction news. At the same time, you can also get auction properties on the lender websites, Multiple Listing Services, and government notices.
Country Assessors and Contracting City Offices
Most of the tax assessor offices have a list of properties in which back taxes are owed. You can get those properties by check on the Country Assessors and Contracting City offices. But, you must have to do your homework to get the best possible property for you.
Conclusion
These guidelines will help you to get distressed properties. So, you should try these ideas. But, make sure to do that in a good manner and don’t bother or annoy property owners at all; if you do, you won’t get any property.
