This is a very brief example of how to identify, research, and make an informed decision regarding bargain online real estate investment properties.
- Drive by the home and compare current condition to the provided photos
- Contact previous buyers and ask for their feedback regarding working with the seller
- Many sellers who do purchase in bulk have not seen the property. Find photos of the inside of the home (or attempt to view the inside when driving by the property). With a quit claim deed, there is no guarantee that the property is in livable condition, let alone a wise investment.
- Contact the county assessor and deed record office to confirm the liens, current owner, deed holder, and verify the property is actually for sale.
- Contact people who have been involved with any other previous property transfers with the same company (find pre-existing deed transfer records for other properties in the same area).
- Contact the seller listed on the tax record by phone to speak with them directly.
- Contact the business owner (if any) and confirm that they are currently selling the property.
- Speak with neighbors near the potential home and gather their thoughts on neighborhood activity, vacancy rates, and safety (for example).
- Contact a real estate agent or appraisal office to determine potential value.
- Follow up accordingly based on your findings through supplemental research.
- Establish an action plan of what you will do with the property. Are you going to fix and flip, straight flip, rent out, or live in the home yourself?
- Have your cash or payment lined up for yourself after detailed communication with the selling property.
Hopefully these tips and tricks will help you along the way in your next potential property investment purchase from eBay or any other online auction site. Remember to always Know the Home Before You Buy with a Home Fax Report from Nationwide Home Fax! Then don’t forget your home inspection from Home Fax Inspections. See how else we can help you in your next purchase, investment, or rental property today.