Buying auction property which is occupied can be tricky but a little good will and some creative ideas get people out or paying you while saving the equity in the property.
This WORKS! Present a copy of the conveyance to the occupant and inform them that you are the new owner.
Offer to pay them $300 and to relocate their belongings to a storage facility where you will pay 1 month of rent.
Give them a few days to prepare for the move.
$300 dollars is more than they will get for the items in the house, so they aren't mysteriously missing when you return.
By presenting this offer the tenants are less inclined to do vandalize and steal but if this doesn't work then you will have little choice other than to have them removed unless a creative solution is found.
Tenant Removal If the occupants are removed by force expect broken windows, holes in the doors, damaged drywall, missing appliances, missing fixtures, kitchen cabinets pulled from the walls and no a/c.
If these things are not done at the time of being forcibly removed then expect it shortly thereafter.
Creative Tip Many times the occupants are prior owners who just became distraught with mortgages, encumbrances, court notices, letters from the Clerk, and life but want to remain in the home.
Many times the occupants do have jobs or pensions but just could not keep up with their obligations and with their mortgage upside down there was no way for them to borrow against it.
With the home now free of the mortgage it creates great leverage for them to stay.
We have had owners rent the property from us with an option to purchase.
Some prior owners elect to buy the property back from us which was less than he owed previously on the mortgage which equated to a substantial savings for him and nice profits for us without doing much of anything.
Creative Tip The man who occupied the home was a renter whom had lost his job as a roofer.
We are always looking for people to do roofing and labor so we agreed to let him stay in the house for 2 months for free in exchange for working on the house and another we owned nearby.
He ended up staying in the house for the two months, worked on the house, found another job, and rented a house from us.
A definite win for everyone.
To Toss Or Not You can toss them out or find creative ways to save your dollars.
There is never a happy ending in every story as many occupants will be prior renters with no interest in an amicable solution that you will have to toss to the curb.
These will be the occupants that cost you money as they will not answer the door and avoid all contact, forcing you to remove them.
These unfortunately are the occupants who will do thousands in damage to the property.
Fortunately we have had many great successes by creating options rather than threats.
This WORKS! Present a copy of the conveyance to the occupant and inform them that you are the new owner.
Offer to pay them $300 and to relocate their belongings to a storage facility where you will pay 1 month of rent.
Give them a few days to prepare for the move.
$300 dollars is more than they will get for the items in the house, so they aren't mysteriously missing when you return.
By presenting this offer the tenants are less inclined to do vandalize and steal but if this doesn't work then you will have little choice other than to have them removed unless a creative solution is found.
Tenant Removal If the occupants are removed by force expect broken windows, holes in the doors, damaged drywall, missing appliances, missing fixtures, kitchen cabinets pulled from the walls and no a/c.
If these things are not done at the time of being forcibly removed then expect it shortly thereafter.
Creative Tip Many times the occupants are prior owners who just became distraught with mortgages, encumbrances, court notices, letters from the Clerk, and life but want to remain in the home.
Many times the occupants do have jobs or pensions but just could not keep up with their obligations and with their mortgage upside down there was no way for them to borrow against it.
With the home now free of the mortgage it creates great leverage for them to stay.
We have had owners rent the property from us with an option to purchase.
Some prior owners elect to buy the property back from us which was less than he owed previously on the mortgage which equated to a substantial savings for him and nice profits for us without doing much of anything.
Creative Tip The man who occupied the home was a renter whom had lost his job as a roofer.
We are always looking for people to do roofing and labor so we agreed to let him stay in the house for 2 months for free in exchange for working on the house and another we owned nearby.
He ended up staying in the house for the two months, worked on the house, found another job, and rented a house from us.
A definite win for everyone.
To Toss Or Not You can toss them out or find creative ways to save your dollars.
There is never a happy ending in every story as many occupants will be prior renters with no interest in an amicable solution that you will have to toss to the curb.
These will be the occupants that cost you money as they will not answer the door and avoid all contact, forcing you to remove them.
These unfortunately are the occupants who will do thousands in damage to the property.
Fortunately we have had many great successes by creating options rather than threats.