Chicago, IL · Member since 2015 · 3 posts · 0 votes
Happy Friday everyone!
So I'm finally closing on an REO property this Monday, the bank is selling it as an occupied property, the deed will be recorded under my name on Monday according to the closing agent. This is a Freddie Mac property.
I found out yesterday that the owners moved out of the place last week so the home is now empty.
My question is:
I’m I still required to fill an eviction order even though the former owners have moved out?
W Hartford, CT · Member since 2015 · 130 posts · 77 votes
10y
Their moving out is good news, but does not mean they've given up their possession or their window to possess. Owners sometimes move back in after they've abandoned it. Talk with your closing attorney and ask if there's a way in IL to avoid the foreclosure process or waiting period 30-90 days to acquire possession. Proof of abandonment may be all you need.
Chicago, IL · Member since 2015 · 3 posts · 0 votes
10y
Thanks for the quick replies,
The closing agent just sent me the city inspection report (which is required for tax transfer purposes) and it says that the property is "VACANT" so I'm going to ask my lawyer if this document is enough evidence to prove that when I took possession the property was unoccupied just in case a problem arises in the future.