It’s very important that you know what to do next specially after getting a tax deed property.
This topic is so basic yet, if we fail to do it the property might be at stake.
WHAT ARE THE THINGS TO DO:
There are lot of things that comes to mind right after buying a property, like thinking about any rehab to be done, look for ways how to market the property, or finding a good buyer.
But sometimes we forget the very basic which is securing the property. It is very important. It should be your first priority.
The previous owner or somebody might have copies of the old keys, and I’m pretty sure you don’t want them to get into your house without your knowledge. To prevent this, better change your locks!
This is also to avoid any possible security problem that you may encounter in the future.
Know If The Property Is Vacant Or Occupied
Before doing anything in the house it’s also pertinent to distinguish if the house is vacant or occupied. If it’s vacant, it’s easier for you to start your game plan, from changing the locks to doing rehabs if necessary, and finally selling it. But obviously if there are still occupants in the house you need to negotiate first. You don’t want to be harsh with them, right?
Just try to be sympathetic if needed because there are some that they just don’t have any choice in selling their house. Some were just forced because they can’t afford to pay the taxes anymore, and some are just trying to get rid of any lonely memories and have to leave the house.
There’s also times that it’s challenging on your part as a new owner because some occupants are so demanding or should I say hard to deal with. All these things and others are part of the process in buying a property.
Check For The Water
There are times that the previous owner forgets to turn the water off and it can cause flood in the area. And you don’t want it to happen to you. Right? So it’s also a necessity to check for the water.
Once it’s off you can start calling for your water and electricity to be turned on.
Also, know any overdue bills, and if there are try to negotiate to the previous owner to pay for it. Make sure no more needs to be taken cared of by the buyer.
Try To Look For Investor
Try to look for investors who are interested to buy a quick claim deed property, or buying the house as is. This is an easier tasks on your part.
Get Title insurance
Make sure your property is protected from whatever things that might badly happen in the future.
Cleaned Out The Property
Make sure that the property is presentable to the buyer. If you need to declutter, or do some staging go ahead, do it! Take away that grass and other unnecessary things around. Make sure that the buyer feels comfortable right away when they take their first glance on the house.
Get the best angles, and let the photos speak how adorable the house is. This will help you move the property fast.
Get It Listed
Put your property online. This will help you get a big market and potential buyers. Internet nowadays is the easiest and fastest way to fo business.
These are the most basic yet important things to know and do after buying a tax deed property.
If you have any questions about how get ready in tax lien and deed investing, make sure to shoot us a message.
Talk to you soon,
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