It depends on your appetite and financial ability to carry out the post-purchase fight. There are legal and extra legal ways to get rid of the squatters.
Are they advertised as having squatters? What sort of discount (dollars and percent) are you getting for the squatter properties?
To me this sounds like an incredible opportunity with tremendous negotiating potential. It's essential to get all the information you can about the squatter: did they ever have a contract with the owner, how long have they been there, how many are there, has anyone told authorities, do they have access to any utilities you'll have to pay for, etc. Once you get as many details as you can on the squatters feel free to PM me for ideas on how to get rid of them.
It depends on your appetite and financial ability to carry out the post-purchase fight. There are legal and extra legal ways to get rid of the squatters.
Are they advertised as having squatters? What sort of discount (dollars and percent) are you getting for the squatter properties?
To me this sounds like an incredible opportunity with tremendous negotiating potential. It's essential to get all the information you can about the squatter: did they ever have a contract with the owner, how long have they been there, how many are there, has anyone told authorities, do they have access to any utilities you'll have to pay for, etc. Once you get as many details as you can on the squatters feel free to PM me for ideas on how to get rid of them.
If they are squatters you will have to go through an ejectment which is lengthier and more expensive than an eviction. That's why its usually more cost effective to pay them to leave if possible. Unfortunately many are knowledgeable and use this to their advantage. Whether it is worth the time and expense is going to be dependent on the quality of the deal. However from my observations the squatter occupied properties tend to be in lower barrier markets and I wouldn't personally want to spend my time and effort trying to create value in such neighborhoods.
@Autumn Kim There are certainly a done of deals on the MLS that look great until you read the remarks and see "no access, do not approach, squatter occupied", etc. In Philadelphia I would check with the seller or agent if they have a lease, if they do a standard eviction can take anywhere from 3-6 months to go through the great court system we have. If not you will need to go through an ejectment which can take anywhere from 6-9 months from my experience. Like @Stuart Udis said, most of the time its more cost and time effective to do cash for keys and throw a few grand to hopefully vacate so you can change the locks.
The cost and timeframe for evicting squatters can vary depending on various factors, including the complexity of the case, local legal procedures, and the squatters' cooperation. It's essential to budget for potential legal fees, court costs, and other expenses associated with the eviction process.