Ok Heres A Question About Def Owners
If you win a bid in new york city auctioning and the defulting owner refuses to leave what do you do?
Acually I also got a second one.
How many investors got into this situation?
This thought got me a little nervouse to bid. but i see so many people bidding and winning with plenty of equity.
In California you start an eviction procedure. You might check with an eviction service in your area if you have one. I believe in some states it may be a bit easier than out here.
Immediately start eviction,in N.Y. City it will probably take 3-6 months to evict the present www.tenants.My mother used to own rentals in N.Y.C. and some evictions would take up to a year.
Ok the owner who defualted got rights like a tenent? I think its tax leins for me unless i know the property is abandon. but i called the lwyers who represdented the banks about seeing inside the property and they said no. does any here go to the county court house and bid in nyc 5 boroughs? what has your experience been?
With foreclosure purchases occupied by tenants or owners you have to follow the law. In NY evictions take a long time and there's plenty of room or delays, and delays. I always use the carrot and stick approach. Meet the occupant. Try to come to an agreement on a date they will voluntarily vacated. Offer them inducements ($500-$2000) WHEN they have vacated the premises. Put it in escrow it necessary. At the same time file the eviction procedure Time it to start a few days after the "voluntary agreed up date of vacation". That's company policy.