REO property with two tenants

[Christopher Kolasa]

Looking for my first deal..

Looked at a 3 family REO Homepath property in Middletown, Connecticut and there were two tenants still living there. This seems very odd as don't most banks evict tenants upon foreclosure? Tenants would likely need to be evicted for any work to be done on the units, they appear to be pack rats, there is a lot of junk that would need to be removed. Does this appear to be a situation to stay away from? There is a very high asking price and a ton of work would need to be done so I'm framing this as a hypothetical..

Possible to make a contingency to remove the tenants? How far can you negotiate down a Homepath home?

THANKS in advanced.

-Chris Kolasa