Learn how to screen property owners before foreclosure surprises you.
- Heather Holliday
- Feb 26
- 1 min read
Critical Screening Checklist for Property Owners
Mortgage Payments: Verify that the owner is current on their mortgage payments and not in default. Request proof of payment or obtain permission to communicate directly with their lender.
Association Assessments: If the property is part of an HOA or condo association, confirm that the owner is up to date on their dues and assessments. Contact the association management for confirmation.
Insurance Coverage: Ensure the owner maintains adequate liability insurance. Request a copy of the policy and verify that the property is listed as a rental.
Property Taxes: Check public records to confirm the owner is current on property tax payments. Unpaid taxes can lead to liens and legal issues.
This will also help in figuring out a seller’s net proceeds.
