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Real Estate
Reply to "Why do abandoned houses exist? What’s the usual reason people just leave and never return? "
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[quote=Anonymous]Foreign investors will buy properties in hot areas to park money. Criminals will use real estate to launder money. In the past two years, there has been more scrutiny of high end real estate purchased by LLCs so they are focusing on less high end properties. Elderly going into nursing homes or dying without a good executor. Properties that were paid off but are in such a state of disrepair that the cost to get up to being a rental or being sold isn't worth more than the annual property taxes. It takes several years of unpaid property tax for a home to be taken over by the state or county. [/quote]
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