Bought Foreclosure, now what???

3 Replies

I purchased a foreclosure via auction this morning. A trust company facilitated the transaction. I spoke with a few neighbors and learned it was a divorce. I'm now waiting for a deed (up to 10 days to receive). It appears to neighbors and self that nobody is there.

I'd like to start renovating, but what if the previous owners have been going back and forth to the property over time to pickup things in lieu of the auction? 

Question 1: If the original owners are accessing at random times to get their belongings, does this mean it's occupied in TN? I want to start renovating but afraid to show up, change locks, and then learn after the fact that the original owner(s) have been there on/off. I don't want to violate any of their rights, yet want to get this house flipped!

Any thoughts on this is greatly appreciated.

Are there still personal possessions in the house?  Are the utilities on and in the previous owners name?  Is your attorney representing you at the closing?  Maybe talk to the previous owner and see what their plan is. 

You might have to do an eviction if the owner is still living there.  If you can get access to the inside tomorrow morning before closing I would take pictures and ask the attorney at closing what they suggest. From what I have read here on BP Tennessee is a LL friendly state and you should be ok if you follow the rules.  Don't self help evict and you will be ok.

I don't think you own it until the closing of the transaction, until you have a filed deed in your name. Until then, do nothing. 

Thanks for the responses. I won the auction bid yesterday (paid for it) and spoke to the Law Firm handling the sale through Auction.com. They said I'll get the deed within 10 days.

The house had a few random things thrown around the floor, but nothing major to make me think someone was living there. Power and Gas was disconnected on 4/15/15.

Can someone come back, after being away, and state they've been there all along? Will I then have to go through Eviction process or is there protection for the new owner?