Bidding question
What does this mean?
Buyer assumes responsibility of occupancy, DO NOT DISTURB OCCUPANT
If you win the bid what do you do if their is someone living in their? and when they say do not disturb does that mean while the bidding is going on? also while the bid is going are you legally aloud to visit the property from the outside and peak in the windows?
I assume you have read this thread
http://www.biggerpockets.com/forums/16/topics/77695-bidding-on-auctioncom-occupied-property
This exact subject is spoken about, albeit from a specific REO source, I'm guessing the information stands for other auction companies though.
If this is from the MLS stub, contact the agent and ask for clarification. The Agent who wrote this didn't really review it, before they placed it on the MLS. Most likely, I assume you should not disturb the occupant until you buy the property.
Simone Cole makes a good point. Calling the listing agent for clarification is the first step. The second is to find out if there is a binding lease agreement on the property. If that is the case, then the buyer will have to honor the lease agreement until it either expires or the tenants violate the agreement.
It is a two part thing that the agent could have spelled out better.
1.) Buyer assumes responsibility of occupancy: This means when you buy it the tenants will be yours to deal with.
2.) DO NOT DISTURB OCCUPANT: While in the process of purchasing the homes don’t disturb the tenant allow them to have quiet enjoyment.