When does the current owner of a house that is for sale at an tax deed auction have to move out? The day the auction start? The last day? Only if it is sold?
IF the place is sold…(and it is always “AS-IS”) and IF the tenant damages significantly the place when moving out (which would be after I inspected the place from outside)…then am I responsible for the NEW damages repair?
Hi,
You do realize of course that there are education programs for tax sales!
In most situations the original owner is gone or has been served by the government to get out! Most do, you may have 1 in 10 or something that have not been removed by the day of sale! In this case you will need to evict the party in possession of the property and if you now own it your responsible for any damages or sueing the party in possession of the property if you can prove they damaged the property!
I have bought hundreds of tax sale properties and I can’t remember ever having the owner or tenants in the property, I have however found many squatters in the property and had to secure them and change locks, but that’s to be expected at times!
GR
As much as possible don’t buy properties with tenants. Also make it a condition that they leave. It looks like the previous owner of the property want you to carry the problem. :cool
Having tenants or even owners remaining in the property after you receive can be either a huge headache or a possible good opportunity. Just remember, you can’t just kick them out…you have to follow local and state statutes on eviction (although in some states, it’s a quicker process thru receiving an quick writ of possession).
My advice would be to just contact whoever is in the property and get their story. I’ve run into the situation that the tenants in the property just didn’t know who to pay their rent to and you’ll start cash-flowing immediately. Or, you may need to get creative and find alternative ways to get them out of the property such as a “cash for keys” offer.