What is an abandoned house?
An abandoned house is a vacant property due to foreclosure, bankruptcy, and financial or legal reasons. Since most homes are abandoned due to financial reasons, they are typically run down and need renovating. This makes abandoned homes attractive properties for investors, flippers and wholesalers because they sell lower than market price.
Whether you are looking to buy an abandoned home or would like to do something about one in your own neighborhood, we’ve created a resource for you.
Abandoned homes attract squatters and crime
Now, if you don’t like having neighbors, having an abandoned home next door might not seem like a big deal. But it is.
In addition to lowering the value of your house and ruining its curb appeal, abandoned homes are also notorious for attracting crime. According to the Association of Community Organization for Reform Now (ACORN), illegal activities associated with drugs and robberies occur more frequently in areas where abandoned homes are located. Vacant homes can be a target for squatters and even drug dealers.
Not only can this criminal activity drive down property values further, it can also put your home and family at risk.
The point is, abandoned homes are more than just an eyesore – they can be dangerous.
Steps you can take if there’s an abandoned home in your neighborhood
As stated, if the home has an owner on record with a mailing address that’s separate than the address of the house itself, you should attempt to reach out to them about the home.
Chances are, they simply aren’t aware that the house might be attracting criminal attention and would welcome the chance to prevent any damage to the home.
If there isn’t an owner, try looking at public records to see if there is a bank on file who owns a mortgage on the home. In this case, the bank is the new owner and the issue of taking care of the house falls on their shoulders.
It’s possible the home hasn’t gone through the full foreclosure process, so the bank may be unaware that it’s vacant. Try to get them to hire a property manager to maintain the home while they deal with finding a new family to move in.
You can also volunteer to take over some basic maintenance like mowing the lawn yourself while the bank tries to hire someone. Even something so simple can make a home appear lived in and discourage criminals from