Question About Inheriting Tenants From Tax Sale

[Zach D.]

Hey Everybody!

I am a new investor in Pennsylvania. I recently purchased a property at the local tax sale. The property is occupied by what I am pretty sure is a tenant. My question is when I approach the tenant should I write them or approach in person? When I approach them should I have a deed on hand and offer to see my ID so they do not perceive it as a scam? Also I am pretty sure the guy has just a verbal lease should I ask him do you have an agreement currently? Should I ask him if its written and verbal? If it is verbal will it hold up in court? Should I have him fill out an estoppel first before asking him anything? I want to get a written month to month rental agreement signed, if he refuses to sign how would you handle it? What if he indicates he gave the previous owner a security deposit am I legally bound to return what he says it was if it is just verbal? I am not worried about the condition of the property I bought it at a price point where I could do a complete to stud rehab if needed.

Thank You Everyone!

[Jessica Bridges]

When we pick up an occupied property from a tax/foreclosure sale we do just as you said. Bring the deed and our ID, let them know that we are the new owner of the home and ask for a lease. If they do not have one and you are wanting them to stay, have them sign a lease with you. If they don't want to id give them notice of non-renewal and have them vacate. They will need to contact the previous owner for their deposit.