Writing a letter to a property owner to convince them to sell to me.

[fpjeepy]

What are some do's and don'ts?

There are 30 properties. I only need one to say yes.

[nereo]

Why do you want to go this route?

[GilesMM]

Do be sincere and touch their heart.   


Don't sound like a kook, a flake or a hustler.

[fpjeepy]

Why do you want to go this route?

I found a community that I like but there are no homes for sale. If I can convince someone to sell me their property, there is a chance of me getting waterfront property within 30 minutes of my work for under $300. Outside of this community, it's not gonna happen.

[fpjeepy]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

[GilesMM]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

Just draft bullet points and iterate with ChatGPT until the text looks good.

[fpjeepy]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

Just draft bullet points and iterate with ChatGPT until the text looks good.

Been doing that. So hard to not sound like a robot with ChatGPT

[GilesMM]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

Just draft bullet points and iterate with ChatGPT until the text looks good.

Been doing that. So hard to not sound like a robot with ChatGPT

I hope this letter finds you well. I wanted to take a moment to share a little bit about myself and why your home has captured my heart in such a profound way.


From the moment I first saw your home, I felt an inexplicable connection to it. There's a warmth and charm that radiates from every corner, a sense of history and love that I can only hope to carry forward. Your home isn't just a house to me; it's a place where I envision building a life filled with cherished memories, laughter, and love.


I grew up in a small, tight-knit community where everyone knew each other, and the sense of belonging was palpable. Our home was always filled with love and laughter, especially around the holidays when family and friends would gather. I remember my grandmother’s kitchen, where she taught me how to bake cookies and shared stories of our family history. When I stepped into your home, I was instantly reminded of those warm, comforting memories. I felt that same sense of belonging and could see myself creating similar cherished moments.


I've always dreamed of finding a place where I can truly settle down, and your home embodies that dream. The cozy kitchen where I can imagine cooking meals for my family, the living room where we could gather around the fireplace during the holidays, and the garden where I envision planting flowers and watching them bloom year after year—every part of your home speaks to me in a way that's hard to put into words.


My own journey has been filled with ups and downs, but through it all, I’ve always held onto the hope of finding a place that feels like home. Your home represents that hope for me. It's not just the physical structure, but the feeling it evokes—a feeling of warmth, safety, and endless possibilities.


I understand that selling a home is a deeply personal decision, one that involves many emotions and considerations. I want you to know that I respect and honor the memories and experiences you've had in this beautiful space. My intention is to build upon that foundation with the same love and care that you have shown.


If you choose to sell your home to me, I promise to preserve its spirit and continue its legacy. I see this house not just as a property, but as a home where I can grow, dream, and thrive. It would mean the world to me to have the opportunity to create my future within its walls.


Thank you for considering my heartfelt request. I would be incredibly grateful for the chance to make your home my own and to fill it with new stories and joyful moments. Please feel free to reach out to me if you would like to discuss this further or if there is anything more you would like to know about me.


With sincere gratitude,

[fpjeepy]

I hope this letter finds you well. I wanted to take a moment to share a little bit about myself and why your home has captured my heart in such a profound way.


From the moment I first saw your home, I felt an inexplicable connection to it. There's a warmth and charm that radiates from every corner, a sense of history and love that I can only hope to carry forward. Your home isn't just a house to me; it's a place where I envision building a life filled with cherished memories, laughter, and love.


I grew up in a small, tight-knit community where everyone knew each other, and the sense of belonging was palpable. Our home was always filled with love and laughter, especially around the holidays when family and friends would gather. I remember my grandmother’s kitchen, where she taught me how to bake cookies and shared stories of our family history. When I stepped into your home, I was instantly reminded of those warm, comforting memories. I felt that same sense of belonging and could see myself creating similar cherished moments.


I've always dreamed of finding a place where I can truly settle down, and your home embodies that dream. The cozy kitchen where I can imagine cooking meals for my family, the living room where we could gather around the fireplace during the holidays, and the garden where I envision planting flowers and watching them bloom year after year—every part of your home speaks to me in a way that's hard to put into words.


My own journey has been filled with ups and downs, but through it all, I’ve always held onto the hope of finding a place that feels like home. Your home represents that hope for me. It's not just the physical structure, but the feeling it evokes—a feeling of warmth, safety, and endless possibilities.


I understand that selling a home is a deeply personal decision, one that involves many emotions and considerations. I want you to know that I respect and honor the memories and experiences you've had in this beautiful space. My intention is to build upon that foundation with the same love and care that you have shown.


If you choose to sell your home to me, I promise to preserve its spirit and continue its legacy. I see this house not just as a property, but as a home where I can grow, dream, and thrive. It would mean the world to me to have the opportunity to create my future within its walls.


Thank you for considering my heartfelt request. I would be incredibly grateful for the chance to make your home my own and to fill it with new stories and joyful moments. Please feel free to reach out to me if you would like to discuss this further or if there is anything more you would like to know about me.


With sincere gratitude,

If I don't feel that way then it's inauthentic. I feel like if I sense someone is being fake I'd throw the letter in the trash.

[Villanelle]

IF you send the same letter to 30 people, saying their home captured your heart/attention, it's going to seem pretty insincere if one neighbor happens to mention it to their neighbor over the fence, who got an identical letter.  Also, mentioning specifics like the great layout or the charming primary bedroom is going to seem either 1)creepy because how the heck do you know what the inside of their house is like--they don't want to think about that info being available and some weirdo finding that on the internet or 2) you don't actually know it's charming and are just blowing smoke.

So, I'd stay away from details about the home and stick to talking about the neighborhood, unless you want to customize the letter for each recipient, and mention something specific, and then I'd just go with the outside, so it's less creepy.

They are probably all still going to throw it n the trash without reading, but maybe you'll get lucky.

[Freedomin5]

If it’s not a gated community, and there are only 30 homes, and no one ever moves out of the community, and you’re allowed to walk around the neighborhood and enjoy the lakefront views, I’d just start taking walks in the neighborhood. Eventually, you’ll meet someone who lives there and then you can comment on how you love the community feel and are wanting to move there, and then you can ask about how it’s like living there and if they know anyone who might be interested in selling. Then, maybe you talk to Joe, and he knows that Fred down the street is thinking of downsizing, and he can let Fred know you’re looking, or you can give Fred the letter and tell him that Joe up the street had mentioned that he was looking to move and would he be willing to sell you his house.

[nereo]

Let’s look at this another way. There are 30 properties, and the median length of time a homeowner stays in a home is about 12 years. Even if this neighborhood is an outlier and families stay there much longer than average, odds are at least a couple will go on the market sometime in the next few years.

Alternative strategy: contact a realtor that has recently sold homes in that neighborhood and tell them you are only interesting in listings in that spot should one come up.  They should know when a person is preparing to sell before it ever goes on the market.

[lhamo]

If it’s not a gated community, and there are only 30 homes, and no one ever moves out of the community, and you’re allowed to walk around the neighborhood and enjoy the lakefront views, I’d just start taking walks in the neighborhood. Eventually, you’ll meet someone who lives there and then you can comment on how you love the community feel and are wanting to move there, and then you can ask about how it’s like living there and if they know anyone who might be interested in selling. Then, maybe you talk to Joe, and he knows that Fred down the street is thinking of downsizing, and he can let Fred know you’re looking, or you can give Fred the letter and tell him that Joe up the street had mentioned that he was looking to move and would he be willing to sell you his house.

This.  So much this.

I grew up in a lakefront community that back in the day was probably much like the one you are looking to buy into -- it is less than an hour from Seattle so now the houses are all over $1mill each and it doesn't have the same vibe.  But you had better believe that if everybody on the lake got the same letter word would get around in about 5 minutes and you would pretty much be ignored at best, maybe shut out for good.

If you really want to buy there, start hanging out as @Freedomin5 suggests.  Make friends with people in the community -- not in a scammy way, legitimately.  See if there are older people who are starting to find their houses to be too much for them.  If they don't have kids/nieces/nephews/grandkids they plan to leave the house to you might be able to work out a deal with them. Or support them staying in the house in exchange for a right of first refusal when they do want/need to sell.

Hidden benefit of getting to know people in the community:  you will get the scuttlebutt on who the problem people/houses are.  Avoid buying the house next to the guy with the dogs that bark all night, or the one where they scream at each other all hours, or where the SIL is in jail (but soon to be out on parole) for dealing meth out of the garage.  Cheap waterfront communities usually come with their share of these issues and are not nearly as idyllic as you are imagining.... 

[fpjeepy]

If it’s not a gated community, and there are only 30 homes, and no one ever moves out of the community, and you’re allowed to walk around the neighborhood and enjoy the lakefront views, I’d just start taking walks in the neighborhood. Eventually, you’ll meet someone who lives there and then you can comment on how you love the community feel and are wanting to move there, and then you can ask about how it’s like living there and if they know anyone who might be interested in selling. Then, maybe you talk to Joe, and he knows that Fred down the street is thinking of downsizing, and he can let Fred know you’re looking, or you can give Fred the letter and tell him that Joe up the street had mentioned that he was looking to move and would he be willing to sell you his house.

This sounds like good advice. But not really the advice I was hoping for. The batch mailing of the letter seemed like a faster method, and/or it's easier to view my activities making and mailing the letters as productive. Driving over there and walking around is only slightly creepy but would likely be a much more organic introduction and a more effective one.

I've actually done this a little. I've driven through the neighborhood 3 times. I've also driven my boat through the water portion of the neighborhood a couple of times. The first time I met a man Miles Wiggins who was pushing a wheelbarrow across the street. Super friendly and told me the whole history of the community. I told him I was moving to the area and I was interested in buying a piece of property. He told me when I was moved and ready to buy to "drive by and honk." No phone number, email, just a car horn. He pointed out the properties that he owned and would sell me, but the two he would sell weren't on the water. I haven't seen him since and I feel funny honking my horn in his driveway.

I know where he works. I might be able to get his phone number. Or I can sack up and start honking my horn.

There are at least 3-4 dilapidated properties. I think those are probably my best shot. No one lives there. I have the hunting app OnX so I have the names and addresses of the owners. The one I like most, the owner's address is Mississippi. I can live out of a van while I rebuild/build the house.

[fpjeepy]

Hidden benefit of getting to know people in the community:  you will get the scuttlebutt on who the problem people/houses are.  Avoid buying the house next to the guy with the dogs that bark all night, or the one where they scream at each other all hours, or where the SIL is in jail (but soon to be out on parole) for dealing meth out of the garage.  Cheap waterfront communities usually come with their share of these issues and are not nearly as idyllic as you are imagining....

Agreed. The community is in the process of 'neighborhood revitalization.' It is in one of the country's fastest-growing counties. As the grocery stores, gas stations, better schools, etc., are getting closer, the value of the properties is increasing and people are buying and building little mansions in the community.

That being said the meth dealers and hoarders are on full display, but it's down to maybe 1 out of 5 homes maybe less.

[lhamo]

Why be so fixated on getting waterfront to start with?  Buy one of the cheaper houses from Mr. Wiggens and get yourself established in the community.  You can turn that one into a rental once the waterfront property opens up.

Definitely send letters to the owners of the abandoned properties.  Might consider using Ancestry or something similar to track down relatives -- you might be able to find out the back story from someone connected to them. 

And go honk at Miles.  Have some cold beer and a non-alcoholic alternative in your trunk.  Spend some time on his porch. He's your key into this community, and probably a nice guy to get to know.

[fpjeepy]

Why be so fixated on getting waterfront to start with?  Buy one of the cheaper houses from Mr. Wiggens and get yourself established in the community.  You can turn that one into a rental once the waterfront property opens up.

Definitely send letters to the owners of the abandoned properties.  Might consider using Ancestry or something similar to track down relatives -- you might be able to find out the back story from someone connected to them. 

And go honk at Miles.  Have some cold beer and a non-alcoholic alternative in your trunk.  Spend some time on his porch. He's your key into this community, and probably a nice guy to get to know.

Partly, I am impatient. Partly I am a boatbuilder and I like being on the water. I am hoping to commute to work by water. It would be a 15-minute commute by water versus a 30-minute commute by car. Maybe Miles would like me to use his dock, but maybe he moves in a few years and I don't have a way to commute to work anymore. In that sense, I would be a little safer if I had the dock on my property.

I like the Ancestry trick. Thanks for that.

And I'll go honk at Miles.

[lhamo]

Why be so fixated on getting waterfront to start with?  Buy one of the cheaper houses from Mr. Wiggens and get yourself established in the community.  You can turn that one into a rental once the waterfront property opens up.

Definitely send letters to the owners of the abandoned properties.  Might consider using Ancestry or something similar to track down relatives -- you might be able to find out the back story from someone connected to them. 

And go honk at Miles.  Have some cold beer and a non-alcoholic alternative in your trunk.  Spend some time on his porch. He's your key into this community, and probably a nice guy to get to know.

Partly, I am impatient. Partly I am a boatbuilder and I like being on the water. I am hoping to commute to work by water. It would be a 15-minute commute by water versus a 30-minute commute by car. Maybe Miles would like me to use his dock, but maybe he moves in a few years and I don't have a way to commute to work anymore. In that sense, I would be a little safer if I had the dock on my property.

I like the Ancestry trick. Thanks for that.

And I'll go honk at Miles.

Take the long view.  With 30 properties, it shouldn't be too hard to find somebody who would LOVE to be connected to a boat builder and willing to trade moorage/dock useage for some work on their boats, or at least rent you a slip for a reasonable price.  Become the "boat guy" for the community.  You'd probably get regular house/dock sitting gigs pretty quickly.  And be the first in line when somebody is thinking about selling.

Community, man.  It means something in places like this.  A lot more than money.  If we had been in a position to live more rurally when the owners passed, I could have gotten quite a few nice waterfront places for below market in my old home community.  Because I grew up with people's grandkids and that meant something.  My brother sold my mom's place to friends of the people who bought my sister's place (next door) without putting it on the market because it was easy, he liked them and he didn't need the extra 100-200k he would have gotten in a bidding war. 

[clarkfan1979]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

Just draft bullet points and iterate with ChatGPT until the text looks good.

Been doing that. So hard to not sound like a robot with ChatGPT

I hope this letter finds you well. I wanted to take a moment to share a little bit about myself and why your home has captured my heart in such a profound way.


From the moment I first saw your home, I felt an inexplicable connection to it. There's a warmth and charm that radiates from every corner, a sense of history and love that I can only hope to carry forward. Your home isn't just a house to me; it's a place where I envision building a life filled with cherished memories, laughter, and love.


I grew up in a small, tight-knit community where everyone knew each other, and the sense of belonging was palpable. Our home was always filled with love and laughter, especially around the holidays when family and friends would gather. I remember my grandmother’s kitchen, where she taught me how to bake cookies and shared stories of our family history. When I stepped into your home, I was instantly reminded of those warm, comforting memories. I felt that same sense of belonging and could see myself creating similar cherished moments.


I've always dreamed of finding a place where I can truly settle down, and your home embodies that dream. The cozy kitchen where I can imagine cooking meals for my family, the living room where we could gather around the fireplace during the holidays, and the garden where I envision planting flowers and watching them bloom year after year—every part of your home speaks to me in a way that's hard to put into words.


My own journey has been filled with ups and downs, but through it all, I’ve always held onto the hope of finding a place that feels like home. Your home represents that hope for me. It's not just the physical structure, but the feeling it evokes—a feeling of warmth, safety, and endless possibilities.


I understand that selling a home is a deeply personal decision, one that involves many emotions and considerations. I want you to know that I respect and honor the memories and experiences you've had in this beautiful space. My intention is to build upon that foundation with the same love and care that you have shown.


If you choose to sell your home to me, I promise to preserve its spirit and continue its legacy. I see this house not just as a property, but as a home where I can grow, dream, and thrive. It would mean the world to me to have the opportunity to create my future within its walls.


Thank you for considering my heartfelt request. I would be incredibly grateful for the chance to make your home my own and to fill it with new stories and joyful moments. Please feel free to reach out to me if you would like to discuss this further or if there is anything more you would like to know about me.


With sincere gratitude,

This language is so vague it comes off as spam. I would throw it right in the trash.

I would do individual research on all 30 homes and only the pick the one's that you would legitimately buy. In the letter talk about the renovations you would like to do specific to that property. That would make it very personal, that you did your homework and are sincere. 

My mom and step-dad did this 25 years ago. The lake probably had 50-75 homes. I think it took over a year to get something. Probably paid 5-10% over market value to get it.

My uncle and aunt did this with a small number of homes in different neighborhoods, not lakefront. "If you ever decide to sell, please contact us first." They eventually got one, about 10 years later.

[sonofsven]

If you must do it, I would just send a simple form letter, with no flowery language, saying that you are looking to buy and live in a waterfront property and if they are interested or know somebody that is, to contact you.
Sometimes all it takes is a little push.
And I wouldn't settle for a non waterfront unless it was a dirt cheap fixer and I figured I could repair and live there and sell when something better showed up.
There's no comparison to waterfront property.

[partgypsy]

Do be sincere and touch their heart.   



Don't sound like a kook, a flake or a hustler.

I have a realtor that will do the paperwork for a flat fee. Good incentive for them and as professional as I know how to be. Don't think I'll come across as a hustler. I am a little bit of a dreamer so maybe I hold back on that. A little to not come across too flaky.

Just draft bullet points and iterate with ChatGPT until the text looks good.

Been doing that. So hard to not sound like a robot with ChatGPT

I hope this letter finds you well. I wanted to take a moment to share a little bit about myself and why your home has captured my heart in such a profound way.


From the moment I first saw your home, I felt an inexplicable connection to it. There's a warmth and charm that radiates from every corner, a sense of history and love that I can only hope to carry forward. Your home isn't just a house to me; it's a place where I envision building a life filled with cherished memories, laughter, and love.


I grew up in a small, tight-knit community where everyone knew each other, and the sense of belonging was palpable. Our home was always filled with love and laughter, especially around the holidays when family and friends would gather. I remember my grandmother’s kitchen, where she taught me how to bake cookies and shared stories of our family history. When I stepped into your home, I was instantly reminded of those warm, comforting memories. I felt that same sense of belonging and could see myself creating similar cherished moments.


I've always dreamed of finding a place where I can truly settle down, and your home embodies that dream. The cozy kitchen where I can imagine cooking meals for my family, the living room where we could gather around the fireplace during the holidays, and the garden where I envision planting flowers and watching them bloom year after year—every part of your home speaks to me in a way that's hard to put into words.


My own journey has been filled with ups and downs, but through it all, I’ve always held onto the hope of finding a place that feels like home. Your home represents that hope for me. It's not just the physical structure, but the feeling it evokes—a feeling of warmth, safety, and endless possibilities.


I understand that selling a home is a deeply personal decision, one that involves many emotions and considerations. I want you to know that I respect and honor the memories and experiences you've had in this beautiful space. My intention is to build upon that foundation with the same love and care that you have shown.


If you choose to sell your home to me, I promise to preserve its spirit and continue its legacy. I see this house not just as a property, but as a home where I can grow, dream, and thrive. It would mean the world to me to have the opportunity to create my future within its walls.


Thank you for considering my heartfelt request. I would be incredibly grateful for the chance to make your home my own and to fill it with new stories and joyful moments. Please feel free to reach out to me if you would like to discuss this further or if there is anything more you would like to know about me.


With sincere gratitude,

This language is so vague it comes off as spam. I would throw it right in the trash.

I would do individual research on all 30 homes and only the pick the one's that you would legitimately buy. In the letter talk about the renovations you would like to do specific to that property. That would make it very personal, that you did your homework and are sincere. 

My mom and step-dad did this 25 years ago. The lake probably had 50-75 homes. I think it took over a year to get something. Probably paid 5-10% over market value to get it.

My uncle and aunt did this with a small number of homes in different neighborhoods, not lakefront. "If you ever decide to sell, please contact us first." They eventually got one, about 10 years later.

I live in a neighborhood that used to be inexpensive but is gentrifying rapidly. I get letter, text at least once a month and just throw it in the trash. If I ever did sell I'd put it on the market as I would want the highest bidder. I agree tell an agent you want to buy in the neighborhood and are interested in foreclosures as well and wait. Or somehow befriend people in the neighborhood in some way (boat club?) so they will let you know if they hear of something. Maybe you will get lucky but I don't think you are going to find someone who will sell and not know it's actual worth. 

[fpjeepy]

Went for a drive over there today. Met Kadie and Miss Lu today. I believe Miss Lu is terminally ill and her daughter-in-law was driving her around the neighborhood on a golf cart. We chatted for a few minutes, they didn't know.of anything for sale. They also said "Everything is word-of-mouth." Miss Lu owns the 43 room bed and breakfast as the center of the neighborhood. Zillow estimates $2M. Out of my price range, but if it sells I'm sure it will shake things up in the area. We actually had the conversation in front for Miles' house. He has a lot of dogs (10+) that were barking the whole time. Kadie said "Miles is nice, but .." we drove away and he was standing in his front yard looking very grumpy so we didn't stop.

[partgypsy]

Like others say, if you do write a letter make it short and sweet. Introducing yourself, that you already live (or work) in the vicinity and are looking for a house in this neighborhood, in part because you build/sail boats and the neighborhood has water access. But yeah. Basically get to know people in the neighborhood. If it via dog walks boating etc build relationships. Rome was not built in a day.

[rothwem]

If it makes you feel better, we had similar goals with our current place.  Our neighborhood backs up to the national forest, so there are nearly infinite mountain bike trails accessible from our neighborhood with zero road travel.  Once I found out that our neighborhood existed, I started with asking people around work if they knew of anyone that lived there.  Once I found someone in the neighborhood that I worked with, I realized that one realtor basically sold all the houses in the neighborhood, so I got up with her and we looked at every house that came up for sale for ~9 months before we found one that we liked.

It was a process, but I'm really glad we did it.  We compromised a bit on the house itself, its a poorly done flip, but we have one of the best lots in the neighborhood, which I think helps to make the compromise worth it. 

[fpjeepy]

So there are only 30 properties on the water in this community. None of them for sale. Most haven't sold since the 80's. A couple sold 2016/2017. I don't think many if any will go on the market maybe ever, but not soon.

There is one property that is for sale on Facebook, but I don't see it listed anywhere else. It's not on the water, but I figure I might as well live there while I wait for one to come up for sale. The property has a building on it, but it will need to be torn done. According to Zillow the property sold at auction in 2022 for $18,000. The seller has it listed for $85,000. I asked if any improvements had been made since it was purchased and the owner said "No. It's a tax deed" I'm not sure what that means. I want to learn more and don't feel like getting scammed.

I have a realtor that I am working with, I plan to ask her.

[uniwelder]

So there are only 30 properties on the water in this community. None of them for sale. Most haven't sold since the 80's. A couple sold 2016/2017. I don't think many if any will go on the market maybe ever, but not soon.

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

[nereo]

So there are only 30 properties on the water in this community. None of them for sale. Most haven't sold since the 80's. A couple sold 2016/2017. I don't think many if any will go on the market maybe ever, but not soon.

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I tend to agree - neighborhoods go thru cycles. If none have sold in several years and most not since the 80s the neighborhood is ripe for turnover. OR - it’s a de facto retirement community, in which case I’d repeat what other posters have said about being very careful whether this is actually a place you want to live, or a pipe dream with rose e glasses

[fpjeepy]

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I guess I'm also going off what Katie told me "Everything is word of mouth here."

[nereo]

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I guess I'm also going off what Katie told me "Everything is word of mouth here."

If no properties have sold, how can this be true?

[fpjeepy]

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I guess I'm also going off what Katie told me "Everything is word of mouth here."

If no properties have sold, how can this be true?

I took her to mean that properties don't often get listed. The owner finds a seller in the neighborhood and does the paperwork, no listing.

[uniwelder]

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I guess I'm also going off what Katie told me "Everything is word of mouth here."

If no properties have sold, how can this be true?

I took her to mean that properties don't often get listed. The owner finds a seller in the neighborhood and does the paperwork, no listing.

You (your agent) can look up the sales history of all the homes with the city/county GIS. It should tell you the names of the prior owners, dates of sale or transfer, and price.

[rothwem]

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

I guess I'm also going off what Katie told me "Everything is word of mouth here."

If no properties have sold, how can this be true?

I took her to mean that properties don't often get listed. The owner finds a seller in the neighborhood and does the paperwork, no listing.

This is how our neighborhood is. I bought my off-market. You need to find an “in”. I’d buy the property that the guy you mentioned earlier has, and then make friends with the people there and eventually get to a waterfront property.

[johnnyqnola]

So there are only 30 properties on the water in this community. None of them for sale. Most haven't sold since the 80's. A couple sold 2016/2017. I don't think many if any will go on the market maybe ever, but not soon.

There is one property that is for sale on Facebook, but I don't see it listed anywhere else. It's not on the water, but I figure I might as well live there while I wait for one to come up for sale. The property has a building on it, but it will need to be torn done. According to Zillow the property sold at auction in 2022 for $18,000. The seller has it listed for $85,000. I asked if any improvements had been made since it was purchased and the owner said "No. It's a tax deed" I'm not sure what that means. I want to learn more and don't feel like getting scammed.

I have a realtor that I am working with, I plan to ask her.

It was probably sold at auction for back taxes by the county to an investor. Often those tax deeds take a long time to finalize and clear all hurdles, redemption periods, etc. Some non-tax liens may still survive and be your responsibility. I'd seek advice from the county, a title company, or a lawyer on what the fine print entails, rather than a realtor, unless she has direct personal experience with these in your county.

[Villanelle]

So there are only 30 properties on the water in this community. None of them for sale. Most haven't sold since the 80's. A couple sold 2016/2017. I don't think many if any will go on the market maybe ever, but not soon.

I’m kinda thinking the opposite. It might mean all the owners are 70+ years old and perhaps they’ll all be changing hands over the next 10 years.

This was my thought as well.  Sure, it's possible the adult children (now probably 40-50 years old and established) will want to move in, but that seems somewhat unlikely because those people probably have lives and careers established elsewhere.  Maybe they keep it as a vacation home, but it doesn't sound like a super vacation-home-y location, despite the lake.  So when the long-time owner go (to live near kids and have help, to move to assisted living, to find low-maintenance condos, or to move to the cemetery), it seems pretty likely that at least most of those home will be sold. 


This is all the more reason to make connections and let it be known far and wide that you are looking to buy.  Often family members who inherit are happy for a quick sale, rather than going through the listing process for a few % more (much of which is eaten up by sales commissions anyway).  If Bob passes away and the neighbor tells his son or sister that FPJ is looking to buy, you could get the call before it even goes on the market. 

Like others, I'm also having trouble understanding how "almost nothing has sold for a long while" and "it's word-of-mouth" go together.  If nothing has sold, how is there a trend for how things sale?  But it sort of doesn't matter.  It can't hurt to spread the word and make the connections.  It will be much easier if dead-Bob's neighbor tells him about you than if you need to try to tactfully reach out to dead-Bob's son to let him know you are interested, while trying not to seem like a vulture. 

[sonofsven]

Both can be true: properties don't sell often, and when they do it's mostly word of mouth, meaning they aren't listed.
So they fly under the radar of most of the realtors.
This is common in some areas.

[uniwelder]

Both can be true: properties don't sell often, and when they do it's mostly word of mouth, meaning they aren't listed.
So they fly under the radar of most of the realtors.
This is common in some areas.

Certainly, but whether they've been sold in the last 20 or so years can easily be verified in a few minutes by looking up their addresses in the county GIS.  30 houses = 30 minutes of work.  OP's response has been confusing whether he means they haven't changed ownership or whether they haven't been listed on MLS.

[Villanelle]

Both can be true: properties don't sell often, and when they do it's mostly word of mouth, meaning they aren't listed.
So they fly under the radar of most of the realtors.
This is common in some areas.

Certainly, but whether they've been sold in the last 20 or so years can easily be verified in a few minutes by looking up their addresses in the county GIS.  30 houses = 30 minutes of work.  OP's response has been confusing whether he means they haven't changed ownership or whether they haven't been listed on MLS.

It varies by the area and how they record things, but in some places, you can enter an address on Zillow, scroll down, and see the dates it was sold, and sometimes even the amount for which they were sold. If that applies in this area, that would be 30 hours in about 10 minutes of work.   

[uniwelder]

Both can be true: properties don't sell often, and when they do it's mostly word of mouth, meaning they aren't listed.
So they fly under the radar of most of the realtors.
This is common in some areas.

Certainly, but whether they've been sold in the last 20 or so years can easily be verified in a few minutes by looking up their addresses in the county GIS.  30 houses = 30 minutes of work.  OP's response has been confusing whether he means they haven't changed ownership or whether they haven't been listed on MLS.

It varies by the area and how they record things, but in some places, you can enter an address on Zillow, scroll down, and see the dates it was sold, and sometimes even the amount for which they were sold. If that applies in this area, that would be 30 hours in about 10 minutes of work.

I never trust Zillow to give accurate information. It always seems to me that I have a 50/50 shot of finding something wrong or incomplete. It’s fun for casual browsing.

[fpjeepy]

County Delinquent Tax Deed Auctions

Can someone tell me a little bit about these? Is there a good book to read up on them? There is a property that might be for sale. It's only listed on FB I'm nervous it is a scam. The seller tells me it was purchased at a tax auction, but the county says it was not.

Thanks

[lhamo]

County Delinquent Tax Deed Auctions

Can someone tell me a little bit about these? Is there a good book to read up on them? There is a property that might be for sale. It's only listed on FB I'm nervous it is a scam. The seller tells me it was purchased at a tax auction, but the county says it was not.

Thanks

Major red flags.  I mean, worth looking into it a bit I guess but do NOT exchange any funds with anyone until you have concrete proof of ownership.

[Sibley]

County Delinquent Tax Deed Auctions

Can someone tell me a little bit about these? Is there a good book to read up on them? There is a property that might be for sale. It's only listed on FB I'm nervous it is a scam. The seller tells me it was purchased at a tax auction, but the county says it was not.

Thanks

And rock solid legit title insurance.

Major red flags.  I mean, worth looking into it a bit I guess but do NOT exchange any funds with anyone until you have concrete proof of ownership.

[fpjeepy]

I couldn't get any more information on that piece of property so all I can assume is that it was a scam.

Otherwise, no more updates. My car is down at the moment so I can't drive over there to try to run into Miles or anyone else.

I'm hopeful that there might be something at the delinquent tax auction in October. My friend suggested I get preapproved for a loan. Should I wait till interest rates go down or do it now? Does anyone have any lenders they would recommend or any they would stay clear of?

[Villanelle]

I couldn't get any more information on that piece of property so all I can assume is that it was a scam.

Otherwise, no more updates. My car is down at the moment so I can't drive over there to try to run into Miles or anyone else.

I'm hopeful that there might be something at the delinquent tax auction in October. My friend suggested I get preapproved for a loan. Should I wait till interest rates go down or do it now? Does anyone have any lenders they would recommend or any they would stay clear of?

In most cases, your pre-approval doesn't lock in rates, unless you specifically want to.  That said, I'm not sure how long a pre-approval is good for, but it's worth having a conversation with a mortgage broker to see. 

[Freedomin5]

I couldn't get any more information on that piece of property so all I can assume is that it was a scam.

Otherwise, no more updates. My car is down at the moment so I can't drive over there to try to run into Miles or anyone else.

I'm hopeful that there might be something at the delinquent tax auction in October. My friend suggested I get preapproved for a loan. Should I wait till interest rates go down or do it now? Does anyone have any lenders they would recommend or any they would stay clear of?

Definitely check with your mortgage broker. It doesn't lock in rates. When we got pre-approved, our pre-approval was good for six months. We found a house within those six months, and the lender asked for a couple updated documents before finalizing the mortgage. The pre-approval simply expedited the final process and gave us a ballpark figure as to how much the bank was willing to lend us.

[theoverlook]

Getting pre-approved is a good idea, but a tax delinquency sale would not be possible with a mortgage. Most have no inspection period and require closing too quickly to get a mortgage. You pretty much have to be a cash buyer or have unsecured financing or have it secured by a different property you already own.

[fpjeepy]

I found it!

Three months ago, my girlfriend marked a property on her phone that she really liked. Now, it's on the docket for the delinquent tax auction in November! I believe God disguises His blessings in what others might call coincidences, but I won’t dive into that here.

The county requires full payment by 5 pm on the day of the auction, but I’m unsure how much I should expect to pay. Redfin estimates the property at $240k, while Zillow has it at $205k.

I can access about $115k easily, but anything beyond that will be a challenge. My parents are willing to lend me some of their retirement funds, but we’d need to transfer the money before the auction so I can get it the same day. I’d rather avoid using credit cards, though I could use a small amount temporarily if needed. Since I just started a new job, I can’t take out a loan against my old 401(k), and I’m still checking into the options with my new company.

I’d hate to miss out on this opportunity due to a lack of funds, but I also know there's a limit to how much I can realistically afford without taking on a loan.

[RWD]

This seems like it might be suitable for a short-term hard money loan. You should be able to borrow at 11% with the property as collateral (they usually won't loan more than 50% of the property value). You would then purchase the property, get a mortgage on it, and repay the hard money loan. Hopefully within the span of just a few months.

When I was dealing with these loans over a decade ago the loan period was for 2 years interest-only with balloon payment at the end, but it was expected that most people would want to pay it back ASAP to minimize the interest cost.

[franklin4]

If the house is in good shape inside and out and in a nice spot, or even two out of those three, most likely others will be looking into it as well so you would have competition. Unless you are a smooth talker and able to get inside to check it out you might be bidding on what turns out to be something in such awful condition it's not worth improving. And realize that someone probably lives there and wants to figure out a way to stay in their home instead of losing it for back taxes, and they probably have until the auction time to do that.

You could get it cheap, discover it's in fine shape and just needs updating, and everything works out wonderfully - or it could be much worse and be something you regret for years.

[fpjeepy]

This seems like it might be suitable for a short-term hard money loan. You should be able to borrow at 11% with the property as collateral (they usually won't loan more than 50% of the property value). You would then purchase the property, get a mortgage on it, and repay the hard money loan. Hopefully within the span of just a few months.

When I was dealing with these loans over a decade ago the loan period was for 2 years interest-only with balloon payment at the end, but it was expected that most people would want to pay it back ASAP to minimize the interest cost.

I don't know how I would get a loan before buying the property and I don't know that the bank would be able to act fast enough to hit the 5pm deadline.

If the house is in good shape inside and out and in a nice spot, or even two out of those three, most likely others will be looking into it as well so you would have competition. Unless you are a smooth talker and able to get inside to check it out you might be bidding on what turns out to be something in such awful condition it's not worth improving. And realize that someone probably lives there and wants to figure out a way to stay in their home instead of losing it for back taxes, and they probably have until the auction time to do that.

You could get it cheap, discover it's in fine shape and just needs updating, and everything works out wonderfully - or it could be much worse and be something you regret for years.

The house is not habitable. It will need to be torn down. No one lives there nor has anyone for a while by the looks of it. I am essentially buying the property. There may be septic and a well, but I am not counting on it.

[uniwelder]

If the house is in good shape inside and out and in a nice spot, or even two out of those three, most likely others will be looking into it as well so you would have competition. Unless you are a smooth talker and able to get inside to check it out you might be bidding on what turns out to be something in such awful condition it's not worth improving. And realize that someone probably lives there and wants to figure out a way to stay in their home instead of losing it for back taxes, and they probably have until the auction time to do that.

You could get it cheap, discover it's in fine shape and just needs updating, and everything works out wonderfully - or it could be much worse and be something you regret for years.

The house is not habitable. It will need to be torn down. No one lives there nor has anyone for a while by the looks of it. I am essentially buying the property. There may be septic and a well, but I am not counting on it.

OP, when this thread started, you talked about trying to find a house under 300k in this neighborhood.  If all this property ends up being is land with septic and a well, then you won't want to pay more than the 115k you have available in your account.