Tax Foreclosure Acquisition, Previous Owner Eviction, Investment Protection
Hello! We are closing on a North Carolina county tax foreclosure auction purchase. I am seeking some advise for our particular situation.
The previous owner that was foreclosed on is still living in the property. He has barricaded the long steep driveway (on a mountain) with a barrier of 4 vehicles. It is clear that he has no intention of leaving any time soon. Satellite imagery and camera footage show that this may be a hoarder situation, as there is garbage all around the yard. He has a long history of being sued over the last 15 years by other people for what we suspect was shady mechanic work. We suspect he may not be in the best mental state.
We are considering offering keys for cash, to see if that will speed up the process of getting him out without having to go through the eviction process. We don't want to be heartless to his situation and don't mind offering something. But we also do not want to make the situation worse when maybe we should just go straight to the legal process. What are your thoughts on offering cash for keys vs going straight to eviction filing?
We have purchased several foreclosures in the past, but this is the first where the original owner is still living there, so this will be a new experience.
My understanding in NC is that we have to give 30 day written notice to vacate, then file for formal eviction? Is that correct? Or can we file for writ of possession? There was nothing in the foreclosure case that specifically stated we could forego that eviction process. I know in some NC foreclosures, they do explicitly state that that particular case could skip that process and immediately evict with writ of posession. Our case had no mention of that. Is my understanding here correct?
Have any of you filed for evictions yourselves in NC? Represented yourselves? If so, how was it?
We are also concerned about severe damage he may do to the home to be spiteful (burn it down or something crazy) before we can get him out. That is another reason we thought cash for keys might be good incentive to not make him feel vengeful. Are there any ways to protect/insure the property from the point it is legally ours, to the point that we can get him out? Are there any high risk policies or anything like that? Since he has the drive barricaded and has dogs, I do not think an insurance assessor could get up there to start a policy. Anyone have experience with this?
Any other words of wisdom for us? Thank you in advance!!
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I always say that "Buying property at Tax Sales is the most dangerous way to buy real estate."