valuable stuff left by prior owner(holdover owners after foreclosure)

Foreclosure Investing
1

The prior owner voluntarily moved out after we served 3 day notice. The big item furnitures were gone, however they left tons of other stuff including small electronic products (like dvd player, vacuum cleaner, toaster etc), pillows, rugs, some clothes, DVDs, cooking wares, magazines, bathroom products, and even a safety box, and the list of items can go a few more pages … We packed and stacked all these stuff in the garage. It takes almost all room of the 2-car garage.

It has been almost 10 days since they moved out. They have our numbers but they are not willing to call us. They also refused to take our calls. The cell phone line seems terminated. We posted the notice of belief of abandonment 7 days ago on the house and in the mail, and then changed the locks of the house. They must haven’t set up mail forwarding because the mail ended up in this house’s mailbox. We called his company to inform him that he can take the stuff anytime by giving us a call, but he evaded by letting his co-worker take a message.

What shall we do next? Could they be working on a lawsuit against us for taking the custodianship of their personal belongs?

2

Hi xxyy,
It is recommended that an 18 day notice be given (15 if served personally). The personal property should be inventoried, photographed and/or videotaped and stored on the premises or at a storage facility. After the time has expired and if the property has not been reclaimed (you can charge storage fees & costs) the personal property can be sold at a public auction. If done properly the whole process takes about 33 days. If the property is in a rent controlled city there could be other requirements also.

3

Thank you, Michelle. I’m considering to go to his workplace and ask if he still wants the items. If not, I’ll ask him to sign a release form to allow me dispose the left-over stuff at my discretion.

Do you foresee if I may get into any legal troubles for doing this way?

BTW, it seems they have took their mails last night because mails in the mailbox are all gone.

4

Situations like this are one of the reasons why investors (and banks) offer the cash for keys incentive. They get the keys to the property and a release to throw out anything left behind.