Have you ever wondered who owns the distressed property down the block from your house? Has the idea of snapping it up for a small price ever crossed your mind? Then you are not alone. In fact, many real estate investors employ skip tracing to identify the owner of an investment property or home before making a purchase offer. But what is skip tracing in real estate? And how to find out who owns a property? This article will provide you with a detailed guide on skip tracing for real estate investors and teach you how to leverage it to land profitable real estate deals.
Determining property ownership is an essential step for real estate investors who are looking to buy an income property that is not on the market. In certain cases, these owners are ready to sell but are simply not willing or not able to work with real estate agents or go through the process of putting their property on the market. These absentee property owners often have other investments or more urgent matters to tend to. Needless to say, this presents a valuable opportunity for any real estate investor who can zero in on properties that meet these criteria. This is where skip tracing comes in handy.
Now that we have gone over the basics of skip tracing, let’s delve into how this process works.
How to Do Skip Tracing
Generally speaking, there are three approaches to skip tracing. You can either do it yourself by checking the county’s public records, retain the services of a professional, or use online specialized tools that are designed to find out who owns a property. Here is a brief overview of all three methods.
1- The DIY Approach
The first option is the most hands-on approach to skip tracing. Taking on this process requires sifting through local records to unearth property owner information.