Some one suggest only buy vacant and/or owner occupied houses and no tenant occupied ones. Any Commend?


#1

I am beginner. Some one suggests me only buy vacant and/or owner occupied houses and no tenant occupied ones. Any Commend? Can I evict tenants after I buy at trustee sale if tenant can not make an agreement with me on Cash for Keys and pays no rent to me? Thank you.


#2

Hi Leo,
You can always evict the occupants when you buy a property at trustee sale and you can always try to negotiate a cash for keys. The catch is that if you buy a property with a tenant then you will need to give them 90 days notice as outlined in the Protecting Tenants in Foreclosure Act if they are on a month to month agreement and you may have to honor their lease if the lease was signed prior to the filing of the Notice of Default.


#3

Hi Leo,
If your looking for help with the Auction Properties I would love to help you. I work for Fidelity National Title and have over 18 years in the Title & Escrow business. I can explain all the documents and help you with any questions about the Title Process. Would love to help you in exchange for escrows. Call me when you get a chance. Smiles Shelly 916-708-2603


#4

Although you can always terminate a tenants contract, it is easier not having to deal with this problem. A lot of times you’ll have to call for legal actions or what a lot of people do is they buy out the tenants, cash for keys.


#5

HI John, Under the Protecting Tenants in Foreclosure Act if they have a valid lease you must honor the terms of the lease agreement. If they are on a month to month tenancy then you are obligated to give them 90 days notice. Be very careful when you assume that “you can always terminate a tenants contract”.