How can we use this reality to find more houses to buy? Homeowners with code violations on their houses are very motivated sellers. Code violations are a great resource for finding motivated sellers.
What’s a Code Violation? Localities have minimum standards for housing that include safety, sanitation, and suitability. When a housing inspector finds a house that does not meet these minimum standards, it will be tagged with a code violation.
There are various levels of code violations. The most severe is building condemnation. When a house is condemned, it typically receives a large red sign attached to the front door. When driving through neighborhoods, look for houses that have been tagged. Homes can be tagged with violations for being unsafe, open to the public, or for a badly leaking roof. Code violations can also be for minor issues such as high grass. The infraction, it creates an uncomfortable situation for the homeowner. The code violation must be addressed, or the owner will face a judge in court and receive a fine.
Code violations are a great resource for finding motivated sellers. ForeclosursesDaily tracks down the owners. In most cases, the owners of the home are not intentionally neglecting their home, but simply cannot afford to keep up the with necessary repairs.
Marketing for code violators is another ForeclosuresDaily marketing technique for real estate investors. It is essentially motivated seller leads. This method works well for investors looking for rental properties to buy with seller financing, or flippers looking for discounted real estate that need work, and it works great for wholesalers looking for real estate.