Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

61
Posts
18
Votes
Christopher Kolasa
  • Rental Property Investor
  • Boston, MA
18
Votes |
61
Posts

REO property with two tenants

Christopher Kolasa
  • Rental Property Investor
  • Boston, MA
Posted

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

Loading replies...