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Updated over 9 years ago on . Most recent reply

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Mark Cruse
  • Investor
  • Fort Washington, MD
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Occupied property

Mark Cruse
  • Investor
  • Fort Washington, MD
Posted

I’m taking possession of a property next week that is occupied. It was foreclosed on and the owners appear to have rented it out to others. I drove by many times and see no evidence of them planning a move. I will make contact after I own it. It’s in Prince Georges County and I’m trying to figure out the best approach. A friend of mine said if they are not moving anytime soon or have a lease that I must honor I should offer them cash to move immediately. That sounds like it can work because I want to move on it quick. Are there any other suggestions? I know others have come up upon this.

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Ned Carey
  • Investor
  • Baltimore, MD
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

I think cash for keys is your best choice. However be aware tenants in a foreclosure situation have rights. You may have to honor their existing lease. Check with an attorney. 

  • Ned Carey
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