You have found an attractive property that can help improve your investment portfolio. But you can’t figure out who owns it. You searched for any existing records from land administration agencies or business licensing offices in your region, but you still came up empty-handed.
If you’re interested in knowing and meeting your target property owner, you definitely need expert trace clerks to find the information you want. Many professionals such as lawyers, business owners, and accountants approach skip tracing agencies to find helpful information and credentials. Skip tracing is often used in businesses related to real estate and property management.
Overview of Skip Tracing in Real Estate
Real estate investors use skip tracing to determine the genuine owner of a prospective property. They use it to look for great investment opportunities, especially if they intend to rent or sell at a more competitive price. Its concept has similarities to finding people who have an existing subpoena or pending court case. However, for property investors and marketers, skip tracing is proven to be a reliable source of credible information for lead generation.
Properties in conflict with tax records or legal representation are often abandoned by owners or set aside to deal with the problem later. These owners can be motivated to find interested buyers or referral agents who can negotiate for a higher price. Real estate agents use batch skip tracing to look for high-value sellers. They are also contacted by real estate investors looking for potential properties which can be acquired in a better deal.
The primary goal of skip tracing is to find valuable details of the owner, including name, email address, current home location, and active contact numbers. Skip tracing makes it easier to find prospective property owners for clients. Suppose you don’t have extra time to browse the internet to look for potential owners. In that case, a skip tracing service can help you smoothen out the communication process between investors and owners as well as avoid being fooled by unscrupulous sales agents.
How to Use Skip Tracing?
Skip tracing can help a lot in your investment journey. You can use this process to search for a specific type of property or distressed properties, depending on your business objective. You can try many skip tracing methods, but you can start with typical white pages, directories, and social media for your leads. Social media sites and online directories are good enough to find targeted properties but expect them to be time-consuming.
Skip trace services provide different results depending on the level of information you’re looking for. For basic skip tracing, you can get your targeted property owner’s name, contact information, and home address. You can also get other pertinent property details, including mortgage data and sales acquisition details. But if you’re looking for high-level information, skip tracing services provide vehicle registration, criminal records, and tax fraud history.
If you plan to run a targeted sales or direct mail campaign, skip tracing services that deliver basic information are more than enough. You can call the property owner directly to get additional valuable details. This way, you can determine how much is the estimated equity of the owner, and from there, you will be able to negotiate with a competitive price.
But if what you’re looking for are family-owned properties or huge enterprises, you’ll need an in-depth skip tracing process. There’s a lot of information you should evaluate here, such as lease contract agreements, lot acquisition data, company registration, corporate tax records, non-liquidated assets, and more. In this situation, you need to find the business owners or Board of Trustees at the very least. There are chances that you will find highly sensitive information, and you need to verify it with lead government agencies.
Aside from social media and white pages, skip tracing service providers use relevant tools to locate information on the web quickly. Some programs are challenging to use, while others are designed for in-depth investigative purposes. Depending on the level of information you obtain, you can choose which marketing strategy is appropriate for your target property owner. You can send customized letters, make a call or create a listing for your direct mail campaign. It is vital in skip tracing that you efficiently generate leads to help you find prospective candidates.
Forms of Skip Tracing Services
You will find online service companies that offer skip tracing on public databases and will give you a detailed report of the gathered data. Even private investigators can provide you with skip tracing services. They can acquire valuable details which are not readily accessible online from public sources.
The amount you should pay for skip tracing tools depends on the type of data you need and the frequency of application. Every skip tracing tool has an individual pricing model corresponding to the sensitivity level of the information, a monthly fee of the service package, and hourly rates.
Skip tracing is proven beneficial for real estate investors, so the data you get from this process is relevant for the expansion of real estate businesses. You may now have options for bulk property details and individual searches using this essential lead-generating tool.