Issue with renters from foreclosure auction

[John Beese]

My wife and I recently purchased a foreclosure from a Judicial sales auction. We purchased the property file from the county and made sure the property was free of any liens and all was well. We get the deed to the property at the end of the month when the court case clears the last hurdle. We knew people lived in it still so we sent a simple letter explaining we bought the house and wanted to talk. we received a call from a shook up renter. after a few text messages between the renter and my wife they decided they didn't want to talk anymore until after they got a lawyer. we found out they have been long term tenants and wish not to move. we originally got the property to owner occupy. however we have changed our minds and are willing to let them stay. Should we contact them to talk about a possible lease or wait for them to contact us. The last time we talked was about 5 days ago.

[Steve Babiak]

Long term renters doesn't always mean long term PAYING renters. The landlord did not make mortgage payments; was that because tenants did not pay rent? Before allowing them to remain as tenants, you want to see some proof of their performance as PAYING renters. Proof in a form like cancelled checks, money order receipts, automatic bank drafts showing on bank statements, etc.