Locating Individuals who have defaulted or have outstanding liens
Skip tracing can be used in the real estate industry to locate individuals who have defaulted on their mortgages or who have an outstanding property lien. In these cases, the lender or creditor will use skip tracing to locate the borrower and attempt to collect the debt or foreclose on the property.
The process of skip tracing for real estate typically begins with the lender or creditor gathering as much information as possible about the borrower, such as their full name, date of birth, Social Security number, and current and previous addresses. They would also gather any phone numbers and email addresses associated with the borrower, as well as any property records or vehicle registration information.
Once they have collected all the information they can, they would start searching for the borrower using a variety of online tools and resources. This can include social media platforms, search engines, and specialized databases. Many of these tools allow you to search for a person using their name or other identifying information, and can provide you with additional information such as their current location, contact information, and social connections.
Another important aspect of skip tracing for real estate is the use of public records. These can include court documents, criminal records, and bankruptcies. These records can provide valuable information about the borrower’s past and present, and can help the lender or creditor to narrow down their search.
It’s also important to remember to be creative and think outside the box when skip tracing for the real estate industry.
Skip tracing for leads in the real estate industry
Skip tracing can also be used in the real estate industry to locate potential leads for new properties or clients. Real estate agents and investors can use the technique to find individuals who may be interested in buying or selling a property, or who may be in a position to do so. The process of skip tracing for real estate leads is similar to that of skip tracing for defaulted mortgages, but the focus is on finding individuals who may be interested in a specific type of property or in a specific location.
The process typically begins with identifying the target market, such as individuals who are likely to be interested in a specific type of property or in a specific location. This can include information such as the individual’s age, income level, and occupation, as well as the type of property they are interested in, such as single-family homes, condos or rental properties.
Once the target market has been identified, the agent or investor will use various online tools and resources to find individuals who fit the target market. This can include searching social media platforms, search engines, and specialized databases for individuals who have recently moved to a specific area, or who have expressed interest in buying or selling a property.
Another important aspect of skip tracing for real estate leads is the use of public records. These can include property records, marriage and divorce records, and voting records. These records can provide valuable information about an individual’s current and past addresses, as well as their financial situation and their potential interest in real estate.
Skip tracing for real estate leads can be a time-consuming process, but it can be a valuable tool for real estate agents and investors who are looking to expand their client base or find new properties to invest in. It’s important to remember that the use of skip tracing should be done legally and ethically, and to respect the individual’s privacy rights.