All Forum Posts by: Gary C.

Ok, Thanks for taking time to share your experiences.  In asking I was just curious if there was anything I might have not been aware of that may have shortened the eviction process if they backed out on a cash for keys agreement. Also, Jesse I appreciate you sharing the cash for keys approach that's worked for you in past. It makes sense to make it clear you'll get them out one way or another & working together would be more beneficial to them.

Thanks.

So the bank actually foreclosed on this property back in 2014 & they (the occupant & his family) are still in there.

So in your opinion, am I right in thinking if I now bought this property that I would have to start the eviction process from square one ? Or where, if I now bought, would there be a legal argument the occupant was unlawfully detaining my property ?

CASH FOR KEYS

In a scenario where a property is being auctioned online & occupied by a former owner/current occupant with two small kids…what is the best way to get that occupant out of that property as quickly as possible ?

Because if an investor (myself), used hard money to purchase that REO then the investor cannot afford to be tied up 3-12 months trying to evict thru judicial eviction process (and associated delays),

because the interest you’d be paying on hard money while not being able to move forward on repairs during eviction delays would eat up any profits.

Is there a legal contract an investor could sign with occupant in presence of attorney offering occupant cash in return for keys & a final agreed upon move out date whereby if the occupant renegged on agreement the investor could go to a judge & get an eviction within 30 days or even same week ?

Are there stipulations you could include in such a contract such as:

“by signing Mr.occupant agrees if does not abide this contract gives investor the right to move all occupant belongings out of address”?

If anyone has encountered a similar situation please share your thoughts.