Wholesaling Vacant Houses in Virginia

The short answer

Can you wholesale a vacant house in Virginia?

In most cases yes, once you confirm the owner, but Virginia licensing rules for assigning contracts can apply. Never enter or list a house you do not have a signed contract on.

A house that looks vacant may be owned by an estate, a bank or a family in dispute. Search the land records first, then contact the owner of record. Our owner lookup guide and heirs property guide show how.

Vacancy brings risks. Insurers often limit coverage for empty houses, and cities can cite owners for neglect. Read our vacant property insurance guide and code violation guide before you make offers.

The opportunity

Why vacant houses work in Virginia

Roanoke and the surrounding Western Virginia valleys have older homes at lower prices, which means a vacant house can cost more to carry than it earns. Owners who inherited a house in another state often want it gone. Searching by driving for dollars is a classic way to find these properties. Winters in the Roanoke Valley can be hard on empty houses. Frozen pipes, roof leaks and mold turn a small problem into a big one, so owners often feel relief when someone offers a clean exit. Notice utilities, too. A house with the power off for a long time may have more hidden damage, and you should budget repairs more carefully. Speak with neighbors politely, since they often know who owns the house and what happened.

Lead sources

Where to find vacant house leads in Virginia

• Drive the streets. Look for tall grass and stacked mail. See driving for dollars.
• Code enforcement. Cities track complaints. See code violation leads.
• Land records. The circuit court clerk’s records show deeds and liens.
• Tax records. Delinquent accounts hint at neglect. See tax delinquent lists.
• Skip tracing. Owners may be hard to find, so try skip tracing.

Your exit

Who buys vacant houses in Virginia

Rehabbers and landlords are typical buyers. Give them honest repair numbers, which our repair cost guide helps you build, and then match to a buy box.

Close with an investor-friendly title company and run a title search per our title search guide so liens do not surprise you. A vacant house with unpaid fines needs extra care. Share photos and a simple repair list with your buyer, and be honest about what you could not see. Surprises after closing damage your reputation, while accurate notes earn repeat buyers who will call you first on the next empty house.

Step by step

How to start wholesaling vacant houses in Virginia

1. Spot the house. Note the address and condition from the street.
2. Find the owner. Check land and tax records for the owner of record.
3. Reach out. Use a letter or call. See yellow letters.
4. Inspect with permission. Walk the property only with the owner’s consent.
5. Run the numbers. Use the ARV calculator and MAO calculator.
6. Sign and assign. See assignment of contract.
7. Close with title. Have the agent clear taxes and any city liens at settlement.

On a drive through Northwest Roanoke you notice a bungalow with a blue tarp and a mailbox stuffed with flyers. The land records list a woman in Raleigh who inherited it from an aunt. You write her a short letter.

She calls back. She has not been inside in a year and the city sent notices. You agree on $74,000, tell her in writing you may assign the deal, and walk the house with her permission. Your repair estimate is $38,000 and the ARV calculator supports the spread.

A local rehabber pays $82,500 through a title company. About $3,100 in taxes and fines is paid at settlement and she nets around $70,900. You verified licensing first. See our license guide.

Virginia rules to know

Blight, taxes and the broker rule

Virginia localities can cite and abate nuisances and derelict buildings, and unpaid liens can follow the property. Delinquent taxes on a condemned, derelict or blighted building can be sold on a shorter timeline than ordinary taxes. See Va. Code 58.1-3965. Condemned homes need extra checks, so read our condemned house guide.

Virginia’s broker definition in Va. Code 54.1-2100 can cover dealing in assignable contracts on two or more occasions in 12 months for pay. The owner exemption in 54.1-2103 generally covers owners acting on their own property. Check with DPOR or a lawyer. The standard seller disclosure form is generally a buyer-beware disclaimer. See our legality guide.

Learn it with a mentor

Turn empty houses into deals

Vacant leads take patience. Mentorship students send us their lists, and we help them rank the houses worth chasing.

FAQ

Vacant Houses in Virginia: common questions

Keep going

More Virginia wholesaling guides

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