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Updated over 9 years ago, 07/25/2015
Buying an auction house with tenants in place in Virginia. Need to evict
So this investor supposedly went bankrupt and they are auctioning off a bunch of his properties here in Virginia. I wish to put a bid on a property but it currently has tenants in place.
My question is if I win the auction and get the house, what is the best way to evict the tenants. I HAVE to live in this property since I will be using a first time homebuyer incentive. Not sure if using that incentive if I need to move in immediately or if tenant can finish off their lease, etc. I have heard cash for keys and I would obviously try working something out before I have to fork over any cash.
I plan on asking the auctioneer if they currently have a lease agreement. I have read numerous things and am looking for Virginia Law as they seem to be different everywhere.
Any input or stories would be helpful. Maybe a step by step process on what I should do would be great too. My plan was win the bid, close on property than try to meet with tenant. I wish to get pictures of the inside just in case. Ask them to leave, offer cash for keys if I have to and if nothing else works evict them.
Thanks guys....and girls of course!