Won Foreclosure Auction! Now what?

[Robert Sorrels]

I put my 10% down, and am looking to insure the property while I deal with current owner residents. It is my understanding that this needs to be done asap since I am aquiring it as is where is..

How should I approach the current owner/tenant? They have until October 4th to try and hold on to it. Do I Call, Write a letter, Door Knock? 

1. Should I try to lease it to them? 

2. Cash for keys?

3. Sheriff Eviction? 

[Chad U.]

Quote from @Robert Sorrels:

I did not run title 😬. I shall do that on Monday while I’m looking for insurance. What’s the best way to contact for cash for keys? By mail? Is there a form letter you use? I do feel bad they are losing their home, and want to be sensitive to their situation, (and would like them to not trash the place.) what are the requirements for the cash, do they just have to get the big stuff? Leave whatever they want? Obviously each situation is different…

"I did not run title".  Famous last words before realizing one lost all their capital buying a Foreclosure.  Checking title before bidding is on the 1st page of Foreclosure Buying 101.