How to Find Distressed Properties in Indiana

Distressed properties sell for far less than fair market value, making them an ideal investment opportunity. Many are in great shape and only distressed due to the owner's financial issues. When a homeowner cannot pay their mortgage, taxes, or creditors, the lienholder forecloses and sells the house at auction. Often, these properties sell for the outstanding loan balance or taxes, making them profitable from day one. You can find these properties using many government and public sources like county, city, state, and law enforcement websites. Sometimes, tax offices and the courts have helpful information. You can also find them through the newspapers, auction websites, law firms, realtors, and others. Use the extensive list of resources below to find distressed properties in Indiana.

Most distressed property ends up in foreclosure. Even if the auction never happens, there is a period before it called pre-foreclosure, during which the owner has some time to fix the problem and pay off the debts. That is an ideal time to approach the property owner with a fair offer to take the property off their hands and help them get out of trouble. When searching for foreclosure and pre-foreclosure homes, public records are the place to look. Use the sources below to find foreclosure homes for sale.

Although most property owners have a mortgage lien, when a property has multiple liens, it usually indicates the homeowner is in financial trouble. Tax, judgment, and mechanic's liens are big red flags. They also suggest that the person may be headed toward foreclosure or bankruptcy and might be willing to sell. You can find properties in Indiana with liens and then approach the owner with an offer. Some ways to find these properties include:

County Recorder's Offices

Since a few types of liens are filed with the county recorder's office, that's a great place to start. You can contact the office and request records in writing; you can also visit them in person, but you may have to pay a small per-page fee. You can also search online through the county recorder's website. Many of them have search portals. Use the links below to get you started.

• Adams County Search
• Allen County Recorder Request Records
• Clark County Document Search
• DeKalb County Property Search
• Dearborn County Document Search
• Delaware County Record Search
• Hamilton County Records Search
• Lake County Recorder Records Search
• St. Joseph County Land Records Search

Indiana Department of Revenue

The Indiana Department of Revenue oversees all local tax officials. When a county imposes a lien on a property due to unpaid taxes, the Department of Revenue gets a copy. You can find lien records and check lien balances through the Indiana Department of Revenue website.

Indiana Courts

Judgment liens are ordered through the Indiana court system. You can check the local Indiana circuit court. Most of these local courts have search portals where you can find cases easily. You may have to enter some information like the case ID, homeowner's name, etc. Try these court websites to begin.

• Boone County Circuit Court
• Clark County Circuit Court
• Clay County Court Clerk
• Hancock County Circuit Court
• Marion County Circuit Court
• Newton County Circuit Court
• Orange County Circuit Court
• St. Joseph County Circuit Court

Indiana Secretary of State

The Indiana Secretary of State is another government agency that carries public property records. They have copies of mortgage, tax, and other types of liens. You can contact this office in person, by phone, or check their website for records. Ask for a list of recently filed tax liens. That can be an excellent resource for finding distressed property.

Use a Title Company or Real Estate Attorney

During the transfer of real estate, the title company or real estate attorney handling the case will run a thorough property title search, looking for any title defects, ownership disputes, legal problems, liens, or other encumbrances that need to be resolved before the sale can close. Check with local Indiana title companies or real estate attorneys to see if they can run these searches to help you find distressed property for sale.

Indiana Title Companies

• Enterprise Title
• Indiana Title and Closing Services LLC
• Indiana Title Insurance Company
• Indiana Title Network Co.
• Investors Title Services Inc.
• Southeast Indiana Title Inc.
• Victory Title Inc.

Indiana Real Estate Attorneys

• Attorney Janet Davis Hocker
• Berkshire Law LLC
• David C. Hiestand, Attorney-at-Law
• Michael D. Kvachkoff Attorney at Law
• Rollins Law Group
• Striebeck Law PC
• Terry Legal Group LLC
• Webster & Garino LLC

Third-Party Online Databases

Another option for searching for distressed properties is to use third-party online databases like PropertyChecker. These databases sometimes allow you to download detailed property records, including lien information.

PropertyChecker is an excellent option for quickly and easily obtaining a complete property report, including value, taxes, liens, foreclosures, and other essential data. You can quickly search using the property address to see if it is in pre-foreclosure or has liens that may lead to foreclosure. You can also search by zip code to view all the pre-foreclosure homes in a specific area.

People in desperate financial trouble often use bankruptcy as a way to fix the problem. Bankruptcy is a last resort process that is handled through the courts. A court-appointed manager will help the person design a plan to repay all their debts. In some cases, this involves selling off property to free up cash. You can find bankruptcy records that may point you in the direction of distressed property. Use the following resources to find bankruptcy cases and lien property sales in Indiana.

Search Federal Bankruptcy Court Records

PACER (Public Access to Court Electronic Records) is a federal records system where you can search for bankruptcies, liens, and other federal court filings. To use the system:

• Visit pacer.uscourts.gov.
• Register for a PACER account to access federal bankruptcy filings.
• Search for bankruptcies in Indiana with the U.S. Bankruptcy Court.
• Review the results and refine your search if necessary.
• Find and download what you need.
• Contact the property owner and see if they are interested in selling.

* PACER may charge you a fee to download documents.

Local Bankruptcy Court in Indiana

Although bankruptcy is a federal court process, each state has local bankruptcy courts divided into districts. You can visit these courts in person to ask for public bankruptcy records or use the websites to search for bankruptcy cases. Use the links below:

• Northern District of Indiana Bankruptcy Court
• Southern District of Indiana Bankruptcy Court

Indiana Department of Revenue

When the state or counties impose tax liens on property, the Department of Revenue gets a copy. Lien property sales are found through the Indiana Department of Revenue. Call them to request a list of recently filed tax liens or property auctions held within the state.

County & City Websites

Counties foreclose on property for unpaid taxes. After a certain amount of time, they will hold an auction and sell the property to the highest bidder. You can find these lien property sales by regularly checking county websites. They will post the property address (sometimes a picture) and the auction date, time, and location. You can sometimes even register to attend through the website. Some county notices of lien property sales include:

• City of Evansville Tax Sale
• Delaware County Tax Sale
• Hamilton County Real Property Tax Sales
• Hendricks County Tax Sale
• Johnson County Tax Sale
• Lake County Treasurer Tax Sale
• Monroe County Tax Sale
• St. Joseph County Tax Sale Notice
• Tippecanoe County Tax Sales

Multi-Court Voice Case Information System (McVCIS)

You can also call the self-help voice line, Voice Case Information System, at 1-866-222-8029 to get basic information on filings.

Lien Sale Notices in Local Newspapers

Look in local newspapers for ads about bankruptcy properties or tax lien sales. You can use the list of newspapers above or look for your own. You can also tap into special tax lien notice websites like those listed below:

• Graph Assets
• GUTS - Tax Sales
• Indiana Exchange
• Revise
• Sullivan Daily Times Tax Sales

How to Monitor Public Notices for Auctions and Sales

• Bookmark your favorite newspaper, auction, or county websites.
• Check them every day for notice of any upcoming tax lien auctions.
• Review the rules of the auction.
• Prepare your finances and have the cash ready.
• Register early.
• Attend the auction.
• Bid and hopefully win.

Attend Public Auctions and Sheriff's Sales

Public auctions and sheriff's sales are another fabulous way to find distressed property cheap. Use the list further down to find public auctions, register for as many as possible, attend, and bid as high as you can to win. You can also find sheriff's sales posted on local sheriff's websites and other places. Use the list below to find and register for some.

• Allen County Sheriff Sale
• City of Huntington Sheriff Sales
• Hamilton County Sheriff Sales
• Hancock County Sheriff's Sales
• Indiana Sheriff's Sales
• Johnson County Sheriff Sales
• Lake County Sheriff Sale Listing
• Sheriff Mortgage Foreclosure Sales
• Tippecanoe County Sheriff Sales

Find Information on Upcoming Property Auctions:

• Check out sheriff's office websites, county websites, or local newspapers looking for tax lien sales and auctions.
• Mark your calendar.
• Register online or using the instructions provided.
• Bring cash and attend the tax sale.
• Bid & win.

Use Social Media or Online Platforms

Those in charge of holding lien property sales or bankruptcy auctions may advertise them in a variety of ways, including on social media. Realtors, attorneys, title companies, auction houses, and even government agencies may use social media to get the word out about a real property auction. Check your favorite social media outlets and look for players in the real estate world; follow them so you get notified when they post something new. You can also follow specialty groups like the one advertising distressed property in Marion County on Facebook.

Consult Real Estate Agents and Brokers

When governments seize property for foreclosure, they often hire real estate agents or brokers to advertise the property and other aspects of the sale. These professionals may also handle the documentation and ads and post real estate online. You can contact these individuals or firms to inquire about tax lien sales or bankruptcy properties for sale.

Specialty Websites - Distressed Properties

Another often overlooked resource is specialty websites, where you can find distressed property or off-market leads that don't exist anywhere else. Search for "tax lien properties" or "distressed property in Indiana," and see what comes up. Use some of the sites below to get started.

• RealtyBid
• ServiceLink Auctions
• SRI Services
• Xome

Hire a Real Estate Attorney

You can also hire a real estate attorney to perform searches and tap into their network of realty contacts to find tax lien properties and auctions. They may know clients desperate to sell and can make connections for you. Use the list above of real estate attorneys in Indiana and call as many as you can.

When a person gets in over their head financially and cannot pay their mortgage, the lender will send them a foreclosure notice. This begins a process that may eventually end in a real estate auction and the loss of the home. The lender can offer some mitigation options before it gets to the auction, and one is a short sale. This is when the lender helps the homeowner out by paying for advertising, realtors, marketing, and closing fees to help sell the property quickly. The lender wants to get paid what they are owed, so the house usually sells for the outstanding amount of the loan plus interest and fees. Short sales can be in great shape and a perfect way to invest in distressed property. Use the following resources to find short sales in Indiana.

Check Out Bank and Lender REO Listings

Since banks and mortgage companies are the lienholders for these types of houses, they are the ones to check when looking for short sales. You should contact the REO or real estate departments of local banks and ask if they have any bank-owned property or any short sales in the works. When banks repossess a property and hold an auction, if they are the highest bidder, the property becomes real estate owned (REO), and they can then sell it privately or through a new auction. Some banks to check out in Indiana include:

• Centier Bank
• Community First Bank of Indiana
• Home Bank
• Merchants Bank
• Old National Bank
• Owen County State Bank
• STAR Financial Bank
• The National Bank of Indianapolis

You should also contact a few mortgage companies in Indiana to ask about any bank-owned property. Some to check out include:

• Approved Mortgage
• First Option Mortgage
• Grandview Lending Inc.
• Indiana Mortgage Company Inc.
• MJW Mortgage
• Royal United Mortgage LLC
• Ruoff Mortgage
• The Mortgage Company of Southeast Indiana

Find Real Estate Owned (REO) Properties

• Contact one of the banks near you and ask for the real estate or REO department.
• Inquire if there are any available properties for sale.
• If so, make an offer.
• Close the deal.
• Alternatively, you can go online and search realty platforms, auction houses, and HUDHomesUSA.com for bank-owned properties and inquire there.

When a person dies in Indiana, their estate will end up in probate, which is a court-centered process where a judge-appointed executor settles the deceased's estate. They pay off debts and distribute assets to the proper beneficiaries. If the person dies with a lot of debt, the court may decide to sell the property to pay off the debts. Sometimes, the family who inherits the property will sell it to free up cash or because they don't need or want it. Probate properties can be a good investment because they often sell for far less than fair market value. Some ways to find probate records and related property are:

Indiana Circuit or Superior Courts

In Indiana, probate is handled by circuit and superior courts. You can contact these courts and ask for publicly filed probate records. You can then discretely approach the family to see if they want to sell. If the court is handling the sale of property, you can make an offer directly to the estate executor. Some courts to check are:

• Adams County Probate Court
• Allen Superior Court Probate Division
• City of Huntington Probate Circuit Court
• Dearborn County Circuit Probate Court
• Hamilton County Probate
• Lake County Circuit Probate Court
• Miami County Probate
• St. Joseph County Probate Court

Local Obituaries

Another way to find probate properties is to check local obituaries regularly. These will talk about the deceased person and their remaining family. You can then marry that information with other public records and approach the family with an offer. Some local obituary sources to try are:

• Current Obituary
• IndyStar
• Indiana Gazette Obituaries
• Journal & Courier
• Legacy
• Seymour Tribune
• South Bend Tribune Obituaries
• The Republic News
• The Star Press Obituaries

Check local funeral homes for obituaries also. These companies usually post them right on the home page for all to see. Some to check out are:

• Dignity Memorial Obituaries
• Flanner Buchanan
• Legacy Cremation and Funeral Services
• Scott Funeral Home

Local Funeral Homes

Local funeral homes are another great asset when looking for probate properties. They work closely with families to memorialize, bury, and cremate loved ones. They get to know these families and may know of off-market deals for you. Partner with local funeral homes like those below to get inside leads of possible probate properties:

• Armes-Hunt Funeral Home
• Ballard & Sons Funeral Home and Crematory
• Indiana Funeral Care
• Integrity Funeral Care
• Family & Friends Funeral Home
• Loose Funeral Homes & Crematory
• Needham-Story-Wampner Funeral & Cremation Service
• West & Parrish & Pedigo Funeral Home

Local Private Estate Auctions

When a family member dies, they may hold their own private estate auction to sell off the property and the person's belongings. You can find these private estate auctions advertised on social media, in newspapers, and online through realty websites and others. Check these sources and attend as many as possible. Often, these properties are in great shape.

Local Realtors & Lawyers

Local Indiana realtors and attorneys work with families of the deceased to settle estates and deal with assets. Contact some local Indiana realty firms and lawyers to see if they have any tips on finding probate properties or know of families looking to sell off-market deals.

How to Buy Probate Properties

• Locate a probate property and contact the seller or executor of the estate.
• Make an offer for the property.
• If the seller/executor accepts the offer, you must petition the court for approval.
• Appear in court for the hearing.
• Work with the court-appointed real estate agent on purchase details, inspections, appraisals, etc.
• You can close and take possession once the court approves the sale.

Since most distressed property is sold through real estate auctions, that is the place to be. You can find these auctions in many different ways. They are usually advertised on state, county, and city websites and through public auction houses, realtors, and other online platforms. You can even find them through social media outlets. Use the resources below to find public real estate auctions, register, and attend as many as possible to increase your chances of finding some good investments.

Private Auction Houses

Private auction houses handle everything from advertising the auction, collecting registrations, holding the event, posting rules and regulations, and managing the transfer of funds and property. You can find these companies online and through other means. Contact these local Indiana auction houses and ask if they have any upcoming auctions with a property that interests you.

• Beckort Auctions, LLC
• Curran Miller Auction & Realty
• Hahn Realty & Auction
• Harmeyer Auction & Appraisal
• Krueckeberg Auction & Realty
• Schrader Auction
• Scheerer McCullough Auctioneers Inc.
• Sohn & Associates Ltd.
• Wagner Auction & Realty

State or City Resources

State, city, and county resources advertise distressed property auctions on their websites. The Indy.gov website has information on how often these auctions are held and the specific rules and regulations. Use the links above to check out county, city, and state resources that provide information and schedules for upcoming real estate auctions.

Online Auction Platforms

You can use online auction platforms to find distressed property. Most of them have filters for foreclosures or bank-owned realty. You can narrow your search using these tools and find just what you need. Try some of these auction sites to start:

• Auction.com
• AuctionZip
• Christy's of Indiana
• Hubzu
• RealtyBid
• ServiceLink Auctions
• SRI Services
• Xome

Local Newspaper Auction Ads

Local Indiana newspapers are another great way to find real estate auctions. You can find these ads in the classifieds, real estate, or public notice sections. You can also find them in the online versions of the paper. For example:

• Indiana Exchange
• Journal & Courier
• Kokomo Tribune
• Farm-Word Newspaper
• Pharos-Tribune

Real Estate Agents

Real estate agents in Indiana handle many different aspects of the selling process, including arranging auctions. They can be a great source of information when looking for auctions to attend. Contact local Indiana real estate agents and ask if they know of any upcoming auctions or off-market properties. Try these below:

• 1 Percent Lists Indiana Real Estate
• Berkshire Hathaway Home Services
• Evelo Team
• Hoosiers Realty
• Indiana Realty Pros
• Steve Lew Real Estate Group
• The Hardie Group Real Estate Company
• White Stag Realty

Most distressed properties are sold to recover some outstanding debt or loan balance. Even at a discount, selling the house can recoup the losses the bank, county, or creditor has suffered. People who need to move quickly for a job, to join the military, or to flee the country may sell their property for less. Couples who are divorcing and those who are floundering under the weight of a heavy mortgage or other debts may also consider letting their house go for less than market value. Some properties are sold after the owner dies or cannot keep up with the regular maintenance.

Although distressed properties can be a great investment, they involve some additional risks, such as:

• Hidden Flaws
• Expensive Repairs
• Legal Issues (title issues, unpaid liens, taxes, etc.)
• Complex Negotiations
• Long Wait Times to Close
• Cumbersome Paperwork

Many real estate buyers will not consider distressed properties due to the property's condition, circumstances, or complexities with the buying process. However, some people actually seek out distressed properties for good reasons. Those who most often buy distressed property in Indiana include:

Real Estate Investors

Real estate investors see the value in distressed property and are unafraid of the hassles that come with buying it. These professionals make a living by finding great deals, fixing them up, and turning them around for a profit. You can partner with other real estate investors to share tips and information on hot deals. Some Indiana real estate investors include:

• BAM Capital
• Gray Capital
• Heritage Cash Home Buyers
• Holdfolio
• Invest NWI
• LTD Property Group
• Realty Wealth Advisors
• Tyler Lingle-Roots Realty
• Wilmoth Group

First Time Homebuyers

First-time homebuyers are another group of individuals that buy distressed property. These people typically have limited funds to buy their first home. Buying distressed offers them the ability to buy a larger, nicer home in a better neighborhood for less. It comes with the price of having to fix things up a bit or make upgrades, but it can be worth it.

Nonprofits

Indiana has roughly 46,845 nonprofit organizations, each on a mission to improve the world or living circumstances for a specific group. These companies work off limited budgets that don't leave a lot of excess for real estate. When they need space for operations or to house people, they look to distressed property to stretch their dollar further. Even if their commercial space needs a little TLC, it can still save them money.

Developers

Land and real estate developers also buy distressed property for many reasons. Some buy multiple properties to revamp and increase neighborhood values. Others may purchase property to bulldoze and use the land. Still, others may buy distressed property to fix up and flip. Land developers can be a great way to find distressed property. Some to consider in Indiana include:

• Browning Rep
• BWI, LLC
• Flaherty & Collins Properties
• Greater Fort Wayne, Inc.
• Scannell Properties
• The Garrett Companies
• TWG Development

Wholesale Companies

Real estate wholesale companies find people in financial trouble and offer them cash for their homes. Although the offer may be pennies on the dollar, some people will jump at the chance to get out of debt without fixing anything up or making any upgrades. These wholesalers buy properties cheaply, fix them up, and sell them for a profit. Some in Indiana include:

• Ark7
• Bigger Pockets
• House Cashin
• Indy Wholesale Invest
• New Western
• Richr
• Real Estate Bees
• REI Transactional