The property I am looking at is said to be occupied. If the property does turn out to be occupied and they are unwilling to work with me ( cash for keys scenario) what type of options do I have and what dollar amount might my options carry with them?
Also what, if any, restrictions are there to renting the property during the redemption period?
If it makes any difference the property will come with a sheriffs deed in addition to a quit claim. On the description it says that "no title insurance offered at closing", does that mean I am unable to obtain it myself or is it just not available?
I actually think that what I have might be a note. If I am wrong someone please correct me, but I will be moving this topic over to the correct sub forum. If you have any input or experience in this type of deal please feel free to pm me.
Depending upon your state, you would likely start an eviction process if the property is still occupied.
Renting during redemption period may be a possibility, but you would have to fully disclose the situation to the tenant as the old owner could redeem and put them out before the lease is up.
For title insurance, you could obtain your own through a title company, or at least do an owner & encumbrances search.
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