Reseach information on a property

Find out if your County has their property appraisers information and the clerks information online.

I run my own title searches and research everything I need right at home.

If not, I would start at the tax office or property appraisers office.

All you should need is the address.

Things I look for:

When was the house built?
Square footage?
# of bedroom/baths/garages
What is the appraised value?
When was it last sold?
The dollar amount of the last sale?
The owners name and address.

Then at the clerks office: (you will need the owners name)

Any leins on the property?
$ amount of the mortgage (can't find out what is owed only how much was originally borrowed)
Any judgements on the property?

Good luck!

It sounds like Revans gave you some great advice about researching the information you may need on this property. This sounds like a great opportunity to learn how the system works in your local area. So even if you do not get this property, you will gather some valuable information on how the process works for future potential deals. Good luck. Believe and Achieve! - Joe

Will try very soon whenever I can put my 2 pricess in lock down .

The online research tips are great! However, some of us live in areas that the public offices are not online (this really bums me out), so gumshoe-type tips are so very welcomed!

Just my two cents in. If the house is two years old or the community is still developing, then there's not much equity in the house to work with. I don't know about you, but i look for homes are at least 8-20 years old which should have some equity in it. The best source of info is go directily to the homeower if the house is FSBO. The owner may sell the house for various reasons. One, he/she may sell it to safe $$ from paying a realtor, or the maybe the house was listed with a realtor and it was never sold, etc, etc. Ask questions such as why are you selling it? How long have you lived here? Where are you relocating, etc, etc. The more questions you ask, the better you will be informed, and the more you informed, the better prepared you are. It's only a suggestion, but you do what you have to do, but i think it's much easier to go directly to the source (owner) then to make any unnecessary running around. You only go the court house or tax assessor if you don't know any info about the owner and the property. Now, go close a deal and remember "Faith without work is Dead! With little work on your part, you can go a long way!

Lloyd

I agree on the ammount of equity is very important for the reason that I'm doing. The owner job got relocated and his wife is a teacher and school start soon for her. They finally got a realtor involve, and it still sitting there. I call their realtor and they ask for $125 full price. Which I think is very unreasonable for this market and in a new communitry, where you can get the same house for the same ammount. They did install a new backyard deck and all new light fixture. Which is nice but not $125k Nice. So I am hoping that that they will drop the realtor after the contract it end. Then maybe they will be more desperate for more open option.

My goal in real estate investing is to profit at least of $15 - 20k on each deal and more is a plus . If not then it is not worth it. Do you think my goal is reasonable?