Foreclosure Purchase & Bonus Rental
Hi All!
I’ve got a brother currently under contract purchasing a foreclosure property in the small town we grew up in. The property is owned by Bank of America and has a fixer upper home in the front with a mobile home in the back of the property that has been rented for an unknown amount of time.
Both a survey and title search have revealed that the mobile home is on the property and has been detitled and joined with the property.
Has anyone has run into this type of scenario before and have any tips or advice to give? Any ideas on the best way to find out about the mobile home disturbing tenants as little as possible or how to find out what tenants are currently paying to rent from Bank of America—if anything?
Thank you in advance!