Beyond Bending Tell You How
When it comes to real estate, finding the right properties can be a challenge, especially if you’re dealing with a large number of leads. Skip tracing is an effective technique for finding property owners and leads that have been difficult to locate. In this guide, we’ll explore what skip tracing is, how it works, and how it can be used in real estate.
First, let’s define what skip tracing is. Skip tracing is the process of locating someone who has “skipped town,” or left their last known address. This can be useful in a variety of situations, including tracking down debtors, finding missing persons, or in our case, locating property owners who are difficult to reach.
How Skip Tracing Works
The process of skip tracing involves using a variety of techniques and tools to locate a person’s current address or location. These can include:
| Technique/Tool | Description |
|---|---|
| Public Records | Searches of public records such as property deeds, marriage licenses, and voting records can provide clues to a person’s current location. |
| Utility Bills | Utility bills can provide a current address for the person in question, as they often include the name and address of the account holder. |
| Social Media | Social media profiles can provide information about a person’s current location, as well as their interests and activities. |
| Private Investigators | Private investigators can use a variety of techniques, including surveillance and interviews with friends and family members, to locate a person’s current address. |
Once the current address or location of the person in question has been identified, the skip tracer can then contact them and attempt to gather more information about the property in question.
Using Skip Tracing in Real Estate
Skip tracing can be a valuable tool for real estate investors and agents. Here are some of the ways it can be used:
Finding Distressed Properties
Distressed properties, such as those in foreclosure or those that have been abandoned, can be difficult to locate. Skip tracing can help real estate investors and agents find these properties and potentially purchase them at a discount.
Locating Absentee Property Owners
Some property owners may be difficult to reach, especially if they live out of state or have multiple properties. Skip tracing can help locate these absentee property owners and potentially lead to new real estate deals.
Verifying Property Information
Sometimes, the information provided on a property listing may not be accurate or up-to-date. Skip tracing can help verify property ownership, as well as provide more information about the property’s current condition and status.
Legal Considerations
It’s important to note that skip tracing is a legal process, but there are certain regulations that must be followed. In particular, skip tracers must follow the Fair Credit Reporting Act (FCRA), which regulates the collection, dissemination, and use of consumer information, including credit reports and other personal information.
Additionally, some states have their own laws regulating skip tracing and other forms of investigative work. It’s important to consult with an attorney to ensure that you are following all applicable laws and regulations.
Conclusion
Skip tracing can be a powerful tool for real estate investors and agents, allowing them to locate hard-to-find property owners and potentially uncover new real estate deals. By understanding the techniques and tools involved in skip tracing, as well as the legal considerations, you can use this technique to your advantage and grow your real estate business.
People Also Ask
What is the purpose of skip tracing in real estate?
Skip tracing can be used in real estate to find distressed properties, locate absentee property owners, and verify property information.
Is skip tracing legal?
Yes, skip tracing is a legal process, but it is important to follow all applicable laws and regulations, including the Fair Credit Reporting Act and state laws regulating investigative work.
What are some tools used in skip tracing?
Tools used in skip tracing can include public records searches, utility bills, social media, and private investigators.
