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9
Posts
4
Votes
Anton Filiptsov
Pro Member
  • Investor
  • Indianapolis
4
Votes |
9
Posts

Auction - Bank owned - Tenant occupied property with "NO VIEWINGS AT ALL".

Anton Filiptsov
Pro Member
  • Investor
  • Indianapolis
Posted Jun 30 2024, 00:37

Can someone please explain me, is there is any workaround?  There are no interior pictures on the listing - none and no viewings.
Price of property is pretty interesting though. ( I am not a fan of gambling )

How i can see inside of property ? Or why Bank does not allows viewings?
I saw plenty Bank Owned auctions listings which were open for viewing.

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Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
13,405
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15,985
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Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
Replied Jun 30 2024, 05:08

@Anton Filiptsov

They don’t allow anyone inside because it’s tenant occupied and tenant will not allow it and it’s not worth the banks efforts to get a court order

You can go knock on door and say hello and when they open door see the inside but also recognize you could get shot - who knows.

To answer the question you have to assume the entire interior needs 100% gut rehab

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7,250
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Bill B.#2 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
8,943
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Bill B.#2 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied Jun 30 2024, 09:58

@Anton Filiptsov 

Flip the script. You are renting and you get 40 or 50 requests for “buyers” to walk through your home every day for the next week while the house is auctioned off. Do you say sue, sounds good, I’ll take time off from work to make that happen and hope nothing gets stolen. 

This is only to your advantage. It will scare all the newbies who want to overpay away from the deal. It should save you more than enough to pay for any renovation. I don’t like your odds against the pros, but good luck. 

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