Won my first auction! When can I take possession?

6 Replies

I won my first auction on Friday afternoon. I still have to go through the process of getting the trustee the final payment before 5pm on Monday, recording the deed, etc. My question is, when can I take possession? I ran by the property and it looks vacant. Also, do I bring a locksmith with me to open the place up? Thanks for your answers!

I suspect if its vacant yes you show up with your recipet that you bought it and a lock smith and change the locks. at least that's what I would do.

What kind of auction was it? If it was a foreclosure auction although you technically shouldn't get in right away you certainly can but you won't get the deed or even legal possession for at the very least a few weeks. In our state the law firm representing the bank sets a court date usually at least 2 weeks out. Then the judge automatically give them a 30 day extension even if it is vacant. You can get around that by filing a motion for immediate possession if it truly is vacant which will speed the process up. 

@Hunter Fitch congrats. we too won our auction 7 weeks ago. We received our deed last week. We had to record it with the city, changed water and sewer over. Judge gave them 30 day eviction which will be up on the 26th. We cannot legally, according to the company who held deed. cannot be in contact or on property until then.

Probably depends on city and state.