Posting for the first time after lurking for awhile.
I've been looking to purchase a new primary residence for myself in Montgomery County, PA and I'm considering bidding on a property in a Sheriff Sale.
I'd plan to pay for the deal in cash, pay for the renovations in cash, then turn around and "re"finance at the first opportunity. I believe that the property is currently occupied.
My questions are: how do evictions work? How much does the eviction process tend to cost? How long does the process tend to take? Is it even possible right now considering COVID laws?
I'd appreciate any and all thoughts. No input is too mundane or "obvious" as I'm plunging into a world of brand-new unknowns.
In PA, it's only an eviction when it involves a tenant that is supposed to be paying rent (reason for evicting a tenant does not have to be non-payment). After foreclosure, tenants have rights under the Protecting Tenants at Foreclosure Act, which is a federal law; that has nothing to do with COVID and was in place before COVID was even known. COVID restrictions offer protections too that can go beyond what the PTFA offers.
But most foreclosures are of owner occupants, and those people are not removed by eviction actions; instead, an ejectment must be performed. Ejectments are more expensive than evictions.
You are asking for some specific answers that are just uncertain at this time, due to COVID restrictions.