Managing Your Property
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Bought a house with people living in it
Hello,
I bought a house at the auction with people living in it. Are there any friendly strategies you would try first to ask them to leave before getting the lawyer involved?
You could try talking to them and posting a notice to vacate as you now own the home, but I wouldn't go alone and I doubt they will leave. Talk to the auction house and find out what they suggest as they will have had other buyers go through the same process and can recommend someone.
Thank you Theresa, sounds like a good idea to talk to auction house.
Quote from @Victoria Riggs:
Hello,
I bought a house at the auction with people living in it. Are there any friendly strategies you would try first to ask them to leave before getting the lawyer involved?
1. Ask nicely. You'll be amazed how many people are willing to comply.
2. Pay them to leave. Give them enough to cover first month's rent and deposit on a new place.
3. Start the eviction process and don't stop until they are gone. If you don't know how to do this, without mistakes, then hire an attorney.
Thank you Nathan, It definitely helps being nice and friendly with people.
If you do pay them to leave, do not hand over any money until they give you the keys and you have walked through the place.
Are you planning on putting new tenants in there? Or kicking them out to live in the entire house. You may always administer a rent raise if you are looking for higher income from the units. 30 day period after a year of renting, ect. Then work through paying them to leave/eviction ect.
Quote from @Victoria Riggs:
Hello,
I bought a house at the auction with people living in it. Are there any friendly strategies you would try first to ask them to leave before getting the lawyer involved?
1. Request that they leave. If they say no or do not leave
2. Cash for keys- Never give them the cash directly. Offer to make the deposit on their next home to avoid an eviction going on their record
3. Hire a gang members to scare them out. (Just kidding)
4. Go through the eviction process
-
Real Estate Agent Illinois (#475. 112189)
- The Smith Group
- 3126817487
- https://www.chicagodiscountproperties.com/
- Real Estate Broker
- Cape Coral, FL
- 805
- Votes |
- 1,463
- Posts
The first step is ALWAYS trying to have a conversation to understand their situation. They may or may not know about the sale - we just went through this. One of my investors bought a triplex and not even the current PM knew that the property sold. I had to prove to the PM that my investor owns it and that we now manage it.
That conversation will tell you what your next steps would be - wait it out, cash for keys, legal...