Can You Invest in Condemned Properties? Should You?

Abstract

A house is condemned when a government entity deems it unsafe or no longer fit to live in. Most condemned homes are only condemned after they have already been abandoned and the owners or residents stop maintaining the property. The length of time necessary to condemn a home depends heavily on its condition and why it’s being condemned. If you don’t want to sell, you can choose a few important things to keep Buyers. Buyers will have a difficult time getting a mortgage lender to approve a loan for a property that contains a house that is a condemned. If you can get a loan to buy a home that has a condemned, you may have better luck Selling to a buyer with cash or an investor who has the backing of a hard money lender. If possible, buy the property in cash. You can also borrow from aHard money lender like Kiavi or Patch Lending, but you’ll