The Unclaimed property market is in a frenzy as more and more people turn to online sellers who sell property without paying taxes.
As of April 1, the average sale price of an unclaimed home in the U.S. was $1.9 million, up 20% from last year.
The median price of a single-family home is $1 million.
For some, that is a good deal.
But the reality is that there are only a few people who actually own unclaimed homes and many of them don’t even know they are owned.
And for many, buying one is a daunting prospect.
Read more: What to do if your unclaimed or unregistered property is missing property taxesIn the US, there are roughly 10 million unclaimed properties in the United States, according to the U-Haul Association.
Most are in the state of New York, where a lot of unclaimed owners live.
There are also lots of unowned properties that don’t belong to the person who owns them, but they aren’t really owned by them either.
“The reality is, there’s only a very small percentage of people who own the property, and many don’t know they own it,” says Chris Pernell, a real estate agent in Los Angeles.
“They don’t think it’s their property, they just think it is.”
It is not easy to find an unowned property.
If you look at the Uptown Los Angeles real estate listings on the site Unclaimedproperty.com, you can see that most of the listings are in areas that have historically been known for housing and therefore are relatively new to the market.
And many are located in places that are not well served by the internet or by real estate agents.
There are, however, a handful of places that still have a significant amount of un-owned property in Los Santos, Los Angeles County, and the city of Long Beach.
Many of the properties listed are in neighborhoods that have been historically underused by realtors and realtents, including the East Village, Westside, Chinatown, North Beach, Westwood, and Central City.
“You don’t have to go far to find a lot that has been used by the homeless,” says Pernill.
“You just need to go down the street and look for people who are homeless and then you can start looking for them.”
The unclaimed market is fueled by people wanting to sell their properties.
There is an online platform that helps people find properties that have already been sold.
And the UnclaimedProperty.com website offers a free service for unclaimed real estate.
For some, unclaimed land in the city is the best option.
“It’s the only place that I can get real estate,” says Kevin Kornel, a former real estate broker in South Orange, New Jersey.
It’s a great location.”
Many of the unclaimed buildings are in older parts of the city, but there are a few more that are in newer neighborhoods.
Kornell’s office in Long Beach, Long Beach’s most upscale neighborhood, has been unoccupied since the early 2000s.
It is currently being renovated and now houses a loft, but Kornelt says he will be selling the building when the renovation is completed.
For those who don’t live near a vacant building, there is another option.
The Unsold property website has listings for homes that were purchased in the 1970s and 1980s, but are still under construction.
For a few of these, the land is owned by the seller and not the buyer.
In some cases, the owner is a non-residential real estate developer.
“A lot of these properties are very, very, long and the owner doesn’t really own the building,” Kornelle says.
“If you have a lot to sell and you don’t own the house and you want to sell, the property is yours,” says Kornelli.
“But you have to get the land, which is an investment, and get it up on the market.”
And if you want the house, there may not be much that you can do to get it.
If a building that is owned and occupied by the person selling it has gone on the National Register of Historic Places, you may be able to legally buy the house.
But Korneli says that is not necessarily a viable option.
Auctions can be a useful way to get your hands on an unoccupied property, but that is usually not the best strategy.
“If you’re trying to sell your home, it may be better to find someone who has a lot, but doesn’t own it and just buy the property,” Kinkley says.
“Or it may make sense to find somebody who has lots of properties but doesn to be able afford the fees associated with selling them.”
For those seeking to sell the property in a hurry, there can