Unveiling Zombie Properties: Considerations Before Making a Purchase

Do you want to invest in single-family rental properties? If this is the case, you should be aware of the “zombie property” (also known as a “zombie foreclosure”) phenomena. A zombie property is one that has been abandoned by the owner but has not yet been formally foreclosed on. Potential buyers may face additional challenges because of this. This article will describe a “zombie property” and go over what must be done to get one.

What is a zombie foreclosure?

A zombie foreclosure occurs when a homeowner abandons a property before the foreclosure process is completed. If a homeowner defaults on their mortgage, they may believe they must vacate immediately, even if a foreclosure has not yet occurred. They may also leave the property for many different reasons. Because the foreclosure procedure has not been completed, the homeowner still owns this zombie property, not the bank or lender. These properties are frequently left abandoned for extended periods of time, deteriorating and posing safety and property value hazards for the entire community. Furthermore, the owner’s financial responsibilities for the home continue to mount, from property taxes to Owners Association levies and fines – and beyond.

How can I purchase a zombie property?

As you can expect, this scenario can make purchasing a zombie property difficult. While this does not rule out the possibility of purchasing zombie properties, you need to be alert to the dangers and take further precautions to protect your capital. Here are some things to consider before purchasing a home with a zombie population:

1. Do your research: Before you make an offer on a zombie property, you need to know exactly what you’re getting into. This includes investigating the property, the surrounding area, and the current market conditions. If you are unfamiliar with the area, you should contact a local property management business that specializes in investment property transactions.
2. Get a good home inspector: A professional home inspection is even more important when you’re considering a zombie property. Be sure to hire a qualified inspector who can identify any and all potential problems with the property.
3. Have realistic expectations: It’s important to remember that a zombie property is, by definition, a distressed property. This means that it will likely need both repairs and renovations and may not be up to your usual standards. Be sure to factor this into your offer price.
4. Get expert help: Buying a zombie property can be complicated, so it’s important to have an experienced real estate agent, property management company, and an advocate in the courtroom. They will aid you in navigating the system and will look out for your best interests.

If you’re considering buying a zombie property, remember to do your research and get expert help. With some extra care and attention, you can turn a zombie property into a thriving investment.

Investors in rental properties can rely on Real Property Management Faith to help them locate and evaluate suitable properties for purchase. Our local market experts can assist you in conducting a comprehensive market analysis, determining fair rental prices, and maximizing your return on investment. For additional information, visit or call a local branch of Real Property Management.