Obtaining possession of the property

6 Replies

Hello!

Do someone have experience buying a property that said  "Buyer will be responsible for obtaining possession of the property upon closing", how easy is to do that? 

I do like the property and believe could be a great investment opportunity but not in the mood for taking out people and dealing with them.

Thanks!

Originally posted by @Claudia Bonaudo :

Hello!

Do someone have experience buying a property that said  "Buyer will be responsible for obtaining possession of the property upon closing", how easy is to do that? 

I do like the property and believe could be a great investment opportunity but not in the mood for taking out people and dealing with them.

Thanks!

 What state is the property in?  In PA or IL that can take a year.  In HI that can take a lifetime.  AZ and TX are fairly quick.   If you don't want a hassle then don't buy an occupied property. 

Buy the property if its a good investment. Knock on the door and let the occupants know you own it. Ask them if you could pay them to leave early. If they don't. Ask them if they have a lease. You are entitled to a copy of the lease if they have one. If it's a legitimate lease, you have to honor the terms of the lease. If they don't have one, won't give you one, you have to give them 90 days to vacate the premises. Smile, walk away and hire an eviction services firm to kick them out.

And to add to @Ron S. 's advice, if they are interested in a cash-for-keys offer, be sure you put it in writing with the date of move-out on that agreement. Everyone signs. They don't get any money until they return the keys and have all their items moved out.