Updated over 9 years ago on . Most recent reply
Auction.com purchase,needs advise
I bought an occupied house at the auction.com and after signing the purchasese agreement ,I went to the house and asked the occupants politely to vacate the house in a week and they happily agreed and did vacate the house and now we changed the locks etc. and have the possession of the property but the closing in in about 2 weeks as told by auction.com,So my question is should be go ahead and start working on it or should we wait for the closing.
Most Popular Reply
@Kay Kay Singh You should wait for closing. The tenants didn't need to leave, you weren't even the owner, but it is good that you were able to convince them.
However, I really doubt your purchase agreement said that you had the right to take possession of the house before closing. It isn't your property, you don't have the right to possession. You probably shouldn't have changed the locks.
I would hold off on working on the property until you close on it and it is actually yours. Until then, you are taking a lot of risks working on the bank's property without their permission.