How To Oust The Owner After Buying A Foreclosure
I am planning on bidding at a foreclosure sale today and need to know how you get the old owners out of the house after you take ownership. Any help appreciated. What is the cost and time frame to do this? thanks dana
The recommendation is to "Catch more flies with HONEY instead of VINEGAR."
"Hello, I am the new owner, and want to work with you to create a smooth and timely moving transition for your family. I am offering the following rewards assuming their is NO damage to the property.
Suggestions:
A. Offer to pay $300 for the moving truck
B. $300 to be paid directly to your next landlord for the security deposit (due to unfavorable credit history)
C. 2 Round trip Southwest Airline tickets
Lastly, you could also state you can all of the above can be received if you leave the home within 10 days.
Your goal is to TRY the sweet approach because legal fees, combined with major repairs costs (mainly water damage) will exceed your reward costs.
Good luck,
Eric & Rosa
[addsig]
If all else fails, you would have to evict.
Yippee I won the property. thanks for the advice. I am happy to do all three but will start with one. thanks serge and dana. I really did appreciate the advice as legal was scaring me.
Even if you are going to offer cash for keys, I would strongly recommend starting the official eviction process.
The eviction time clock will only begin when you file, no sense delaying. Also the "incentive" will look more appealing if they know the free rent will end in 30 days.
I don't get it. If he is the new owner of the house, then the old owners shouldn't have legal access to the house should they? can't you just change the locks and say see ya? Imean it isn't like they had a rental agreement that the new owner has to honor right?
The foreclosure action terminates their ownership rights and the eviction terminates the right of possession (occupancy). Unless they leave voluntarily you'll have to complete the eviction action.
So why do foreclosed people stay? Free rent. They haven't had to pay for housing and they typically don't have money to move or rent an apartment. In IL you can live almost a full year from your last mortgage pymnt to the final eviction in a foreclosure.