When it comes to vacant properties, is the glass half empty or half full?
Real estate practitioners and investors can find motivated sellers in the form of owners of vacant properties who are facing mounting expenses such as taxes, insurance, and maintenance if not code violations because the property looks like an eyesore.
Not to mention squatters, a growing problem that has sparked outrage when parasitic guests have taken over homes with bogus documentation and false claims of a tenancy with the police taking no action because it is deemed a civil matter.
Unlike other real estate transactions where the sellers have some sort of emotional attachment to the home that can complicate negotiation, the decision of the owner to part ways with a vacant property should be based on a business decision.
Since the owner does not live on the premises, they can typically be shown to potential buyers more easily because the scheduling doesn’t revolve around the owner’s life. This accessibility can speed up the sales process. Moreover, there is considerably less competition for unlisted, under-marketed properties.
For savvy fix and flip investors looking to do a complete makeover, vacancy property lists can be particularly intriguing.
