Prospecting a lot

Discussion in 'Buying & Selling Real Estate' started by Corzhens, Aug 27, 2015.

  1. Corzhens

    Corzhens Senior Investor

    Joined:
    May 2015
    Posts:
    933
    Likes Received:
    0
    Beside our property are 2 vacant lots both measuring 250 square meters. Although we are not in a good financial position to buy it, we are dreaming that we would buy it someday and build a bigger place for us, not really the house but a vast yard where we can plant what we want including exotic trees. However, we cannot trace where the owner of that lots is - those 2 lots are owned by just 1 person. Maybe when I retire, we would have the funds to purchase that.
     
  2. Rainman

    Rainman Senior Investor

    Joined:
    Jun 2014
    Posts:
    1,587
    Likes Received:
    4
    The easy way to find out who owns the land which you are interested in is visiting your local land registry offices. They'll have the information you need. Finding the owner however might prove to be a little trickier but once you have the name it does make it all relatively easier. Question though is, will s/he be willing to sell?
     
  3. Corzhens

    Corzhens Senior Investor

    Joined:
    May 2015
    Posts:
    933
    Likes Received:
    0
    We did that. Unfortunately, the information in the assessor's office in the municipal hall is not updated. Worse, the name of the owner is surnamed Dy, a very common family name. Our only chance to meet the owner is when she comes to visit the lot. But according to some neighbors, the owner is rich so she might not be interested in selling the lot or maybe had already forgotten all about it. That lot would make our property not only bigger but also better in terms of the garden that we are planning.
     
  4. baudwalk

    baudwalk Senior Investor

    Joined:
    May 2015
    Posts:
    1,459
    Likes Received:
    13
    I assume a person or a company pays taxes on the property, otherwise the local jurisdiction would seize and sell the land at auction. The tax assessor or office should have the current information. No?
     
  5. kgord

    kgord Senior Investor

    Joined:
    Aug 2015
    Posts:
    617
    Likes Received:
    1
    Well, maybe you could start to put a few dollars away towards that end. it is often easier to save if you know what you are saving for and what you want to with it. It always helps to have a goal in mind or a object to make saving worthwhile. I think that the deed to the property must be registered somewhere. Here it would probably be in the land records section of the local courthouse. When you know, you might find out what they bought it for and what you should offer.
     
  6. Corzhens

    Corzhens Senior Investor

    Joined:
    May 2015
    Posts:
    933
    Likes Received:
    0
    Thanks for the comments. Right now we are still at a loss on the owner of those 2 lots. But hopefully, we can ask someone to touch base with people in the land registration. That's the way here to make gathering information easier, tap a person with connections otherwise you would suffer a waste of time by waiting and waiting in government offices. And since we still do not have the cash, if the owner would sell it then we probably would take a bank loan for that.
     

Share This Page