Buying REO with previous owners in Arizona

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Buying REO with previous owners in Arizona

Paul Bojinov
Investor · San Diego, CA · Member since 2015 · 36 posts · 21 votes

I was looking into some REOs around Phoenix and some have the previous owners still in the house. 

I know evicting renters in AZ is a simple process, but has anyone had experience evicting previous owners?

I will of course hire an attorney if cash for keys does not work. Trying to account for the worst case scenario as far as time and cost.

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  • Richard C.
    Rental Property Investor · Orange County, CA · Member since 2014 · 49 posts · 80 votes
    9y

    @Paul Bojinov If you proceed with the REO and acquire the property, the previous owners are just that... previous owners. You should both negotiate with the current occupants (previous owners) to leave immediately and begin the eviction process simultaneously. Ive found that being kind but firm to the previous owners results in the least amount of damage and rapid recovery of your property. DO NOT lease the property back to the previous owners.

    Good Luck!

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