Properties become abandoned and distressed for a variety of reasons. Sometimes, the owner passes away and heirs are uncertain what to do with the property. Others are simply abandoned with little effort to sell the property, if the owner has no equity.
A REALTOR, like myself, can check a variety of sources and attempt to find owner information and explore the possibilities for rental or ownership of the house. Find an agent that has listed or sold several homes in the area close to the house. They can solicit the owner for you and see if they can arrange a mutually beneficial transaction for a sale or lease.
They can also check to see if the property has been through a foreclosure and is now owned by a bank or loan guarantee program like HUD, VA, Freddie Mac, etc. These home often are sold at an auction. If you have the means to have it done, or can do the work yourself, you may pick up a bargain, trading your work to rehab for a substantial equity in the home, once the remodeling work is done.... more