[JGatti]

My wife and I really want to buy on our vacation lake up in Gaylord. The problem is that there has only been 2 homes for sale on it in the last 3-4 years. People hold on to these homes like nothing you've ever seen. It's really strange because there are several houses that have not been used in 5-6 years and some even longer. I have been able to find the owners of some of the properties I am interested in but am thinking what now? Should I write a letter? Try to call them? The property I am interested in has a house on it that could not will not ever pass any inspection and is worth nothing. It has to be demolished. Because of design and size I know I could take care of it with a couple fires and a large dumpster. If that's even legal. The stories behind it is it was given to a son but the latest was it was given to a daughter who lives in Tennessee. But the owners are listed in Grand Blanc, so I'm not 100% a letter will get to the right person.
So I guess I am wondering how would you go about contacting the right people? Phone call or letter? Also I am not sure what kind of offer to make. The last house to sell was just a little cottage home, 900sqft but in perfect condition and it sold for either $169,000 or $189,000 depending on who you ask. I'd guess this lot with the shack could not be worth more than $100k. The lot on the one that sold was larger and cleaner as well, with a beach and 2 docks. The shack home has nothing. So with this limited info I'd like anyones best guess.
My friends parents live on this lake and it's amazing to hear the stories of the unused homes. One the womans husband died, she always hated the house so she sold it on a land contract to her dads friend who died inside a year. Now it's hers again and she has not been seen up there in 4 years but pays a company to check on it, clean it, maintain the lawn etc. Crazy. Another is a Dr who has a house in Gaylord, one in West Bloomfield and one on the lake. He has not been seen at the house on the lake in 3 years. It's all overgrown and has crap growing on the roof. Another is a California couple who used to come out 1 week a year. ( whats the point?) but not this year. Her yard is overgrown and the house looks terrible. There are 4 other homes just like this but I don't know the stories behind them. How crazy is it to own a home, pay the taxes yet let it go to crap and lose value. I watched how fast my dad's house fell apart when he died. These homes are fine now but for how long? That just makes no sense to me.

[belleislerunner]

1) A letter is the best route - you can often find out the address/owner by going to the local city's website and looking up the "tax assessor" - that will tell you the name/address of the party who owns the property, often even the amount of taxes and the last purchase price/assessed value. Tell them you are interested in making an offer for the property and to call you to discuss specifics. Don't include an "offer" in the letter - because often - you can learn more about what it should be - by having a phone converstation - gauging their interest/involvement in the land.

2) If you want a cheap demolition - often times you can have the fire department use it as a "training site" whereby they will burn it to the ground as part of their firefighter training - gets it off your hands, a little more legally - than torching it yourself.

[JGatti]

Does anyone know what it means on the tax records etc when it says trust? Does this mean it was left to someone by a relative that passed away?

[Huckleberry3911948]

i really ticked off a gentlemen who bought my grandfathers house. i wanted to buy it but i think he was insulted by my offer.

[jackmichigan]

Originally Posted by JGatti

Does anyone know what it means on the tax records etc when it says trust? Does this mean it was left to someone by a relative that passed away?

A trust has nothing to do with someone passing away. A trust is a legal mechanism many people use to avoid probate and for other reasons. Title to property is often transferred to a trust and the owners who granted the property to the trust usually become the trustees of the trust. They still control the property, but legally the title is held by this separate legal entity. So...just contact the people as if they own it as individuals. If you purchase property from a trust, though, you will need to confirm that the people executing any documents have the authority to do so. Make sure to get title insurance--the title company will verify everything before you close.

As to the best way to contact owners, I would recommend a letter followed up by a phone call. A word of caution: I would advise you not to be critical of the property or chastise them for letting it go. Some people can be very touchy about that and will not want to deal with you. Simply mention that you've noticed that people haven't been there very often, and you're wondering if they might be interested in selling, either now or at some point in the future. Friendliness goes a long way.

If you're not sure about values, you should do as much research as you can and also check with some local real estate agents. Good luck.