I found a vacant house a few months back and decided to dig for more info. Tax collectors said they still have tax bill going to the property but the probate office has a recorded date of 9/10 assigning the Financial freedom senior funding loan to Federal National Mortgage association. Back taxes are owed for 09 and 2010, does this mean the house was taken back by the bank and if so whats my next step?
You may have to do a bit more digging to find out but Federal Nat. Mortgage Assoc. is Fannie Mae and they may in fact have taken the property back on its books. Is the property currently listed for sale or are you just inquiring due to it being vacant? As for the taxes, you’d need to plan on bringing them current in order to purchase.
Hope that helps…
No the house is not listed and theres no sign in I found it driving through the neighborhood a few months back. Who do I call and what do i say?
I’d find out specifically who owns it and contact whoever that may be. You should be able to find out through the most current tax records through the city/county. If owned by the bank, contact them (or that dept) to discuss purchasing it. Some banks require you go through their agent if they have one assigned to that property.
If this would be your first time going through all this, you can also find an agent that has experience dealing w/ these types of properties/situations. Its no cost to you and they may have the connections to get your offer on the table. You could also knock on the doors of the neighborhoods to find additional information.
With it being vacant, especially if its been sitting a long time, you’ll definitely want to get in inside to check for any plumbing leaks, damages, etc that may have occurred before putting in an offer.
Hope that helps…
FWIW - we keep a list of vacant houses that we or someone who works for us found that we have been maintaining for about 3 years and that currently has about 500 properties on (I’m sure many of those have been sold, but until we know for sure it stays on the list and they get a postcard every month or 2).
If this were me, I’d stick one of my flyers in the door and move on. I wouldn’t even mail to them. We want to talk to real people with real problems and that isn’t someone working at fannie mae or a bank. You may learn a thing or two by trying to track this down, but I’d rather spend the time finding other vacants or putting up signs. I’m willing to bet that within 5 blocks of this house there’s another 10 vacant houses - minimum.