REO/Auction.com occupied sfh

REO/Auction.com occupied sfh

Concord, NC · Member since 2016 · 62 posts · 20 votes

Quick question for the Dayton crowd:  I'm looking at an auction on auction.com.  The site says the home is occupied. Obviously, if true, that presents a complication. Do you have any experience or second hand stories of how complicated this 'typically' can be in ohio/greene county area?

Thanks!

Steve Schoon

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Darrin CareyPro Member
Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
9y

As always, it depends. 

  • Is that status still accurate?
  • If they are there, and cooperative, they may answer the door, and show you around.
  • They also may move voluntarily afterward.

If not, you'll have to do an eviction. Typically takes about 4 weeks to do an eviction, and about $400.

Anecdotally, it seems to be about 50/50 whether you'll need to take the eviction route if they are still there.

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  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    9y

    As always, it depends. 

    • Is that status still accurate?
    • If they are there, and cooperative, they may answer the door, and show you around.
    • They also may move voluntarily afterward.

    If not, you'll have to do an eviction. Typically takes about 4 weeks to do an eviction, and about $400.

    Anecdotally, it seems to be about 50/50 whether you'll need to take the eviction route if they are still there.

  • Concord, NC · Member since 2016 · 62 posts · 20 votes
    9y

    Hypothetically, given that a good/great deal was avail at an online auction, would the fact that its occupied deter you, @Darrin Carey? or would you just move ahead with eviction if necessary?  in this kind of scenario, historically in this area, what have you seen with regards to 'tenants' trashing the place during eviction?

  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    9y

    So far, I've personally bought two that were still occupied. Both times we were able to communicate with them while the sale was in progress, and they left after the sale without an eviction; neither did deliberate damage. Others I know have had similar experiences when they had to do evictions. Say a total sample size of two dozen properties where they were occupied. I'm only talking about DELIBERATE damage. More than 1/2 of those houses were in poor condition already.

    I've seen many houses that were deliberately trashed by the occupant, but they were long gone before the sale.

    That said, it's always a risk. 

    Frequently there's no access to the property interior for any Sheriff's sale or some of the Auction.com sales whether they are occupied or not. So to me, it's one and the same. The same people that would deliberately trash it will do it when they leave, whether you have already bought it or not.

  • Concord, NC · Member since 2016 · 62 posts · 20 votes
    9y

    Makes sense.  Thanks so much for your time, @Darrin Carey. I appreciate all the time you put into these forums (ive read a lot of your posts here in the dayton forum) and hope to see you at one of your rei meetings when I finally move back to the Dayton area!

  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    9y

    @Stephen Schoon You're welcome. Glad you've enjoyed the posts. Maybe we'll meet at COREE or the OREIA Convention if you go to any of those before you get to Dayton.

  • Woodstock, MD · Member since 2016 · 44 posts · 14 votes
    7y

    Thanks @Stephen Schoon and @Darrin Carey, I just won an occupied property on Auction.com. I hope the status is no more accurate and if they are still here, I pray they are cooperative and willing to move voluntarily. But one question: "When you can legally access the property?" 

  • Flipper/Rehabber · Maumee, OH · Member since 2017 · 39 posts · 23 votes
    7y

    I just drove by 5 Auction.com properties yesterday, all of which said they were occupied.  2/5 were, the rest were vacated.  If you can, have someone do a drive by and look in a window if no one looks home.

    Also, look up the County's residential eviction process.  It usually doesn't cost much to file and the Sheriff will boot them 30 days after you do (you have to move their belongings out to the curb on that day).  I'm in Ohio too.  It's not a bad process legally (DIY).

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