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Updated over 1 year ago on . Most recent reply
Foreclosure with past owner living there
Single family bank foreclosure with past owner still living there. RE listing agent said I would have to do the eviction or work out a rental agreement if I purchased the home. In addition, there are no showings and I'd have to buy sight unseen (although she suggested I knock on the door even though the listing clearly states not to). Property is attractively priced.
I haven't bought a bank property in many years. Is it common to not evict before listing? I do plan to meet with occupant to determine if he is a good rental candidate. I do not want to buy and evict (it's in my neighborhood) so using as a rental and rehabbing later would be my plan. I am open to thoughts and suggestions please.
Most Popular Reply

@Ron K.
As someone who buys mortgage loans, I would say if the property was foreclosed upon it would be difficult to see that person as a good renter. There mortgage payment was probably close to the rental payment and to foreclose in Pennsylvania is a lengthy process so they must have been way behind
If I bought it I would get an attorney and have them handle the eviction or offer cash for keys
- Chris Seveney
