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Updated almost 2 years ago on . Most recent reply

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127
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Huso Akaratovic
  • Flipper/Rehabber
  • Newport News, VA
54
Votes |
127
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Auction Purchase...Evil Tenants= HELP!!

Huso Akaratovic
  • Flipper/Rehabber
  • Newport News, VA
Posted

Greetings, 

I purchased a property sight unseen at the court house Auction in Virginia. I went to introduce myself and discovered that the people living there are not the owners. According to the information they gave me, the son in law was the owner of the unit, and of course they are at shock that he did this to them. The unit is in an excellent shape, they lived there for the last 8 years and took great care of the property. The problem is they're only paying $850 per month. I asked if there were any leases in place, and they said no.  When I initially went to introduce myself 2 days ago, they told me they would move out, but were not sure where to go since they were caught off guard. I felt bad for them and told them that they can stay there, but the rent was going to be now $1400, which that's what the market rent is. Today they come back to me and say, you can't make us leave, because we have a lease in place that runs from January-January, and according to the law you have to honor the lease.  He told me that's what his lawyer told him. I asked who the lawyer was and he did not want to disclose that. I'm caught off guard and to inpatient to wait until Monday before I can talk to some attorneys. In the meantime, does anyone have any suggestions or advice? 

Most Popular Reply

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Tom Gimer
  • DMV
3,417
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Tom Gimer
  • DMV
Replied

The lease, if one truly exists, was not the result of an arms-length transaction. Likely executed within the past few days and backdated. The definition of bona fide tenant/lease also includes reference to market value. Is 60% fair market value? Hardly... the tenants and their lawyer are playing games.

Were I the auction purchaser in such a situation I would leave emotion out of it, give the appropriate notice to quit, and on the first possible day file to evict and obtain possession.

  • Tom Gimer
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Eastern Title & Settlement
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