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Updated over 11 years ago on . Most recent reply

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Marcus B.
  • Real Estate Investor
  • Chicago, IL
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Evicting previous owner?

Marcus B.
  • Real Estate Investor
  • Chicago, IL
Posted

Im thinking about buying a townhouse(foreclosure), but the previous owner still lives in the home. She upset that she lost home. Should I buy home?

Most Popular Reply

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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Still some information needed to really give you sound advice.

You're calling this a "foreclosure", but often people use that term loosely, so defining some more specific things about this opportunity could get you some other info.

So, is this already owned by the bank? Is this property going to be bought at the "courthouse steps" type auction? If the former, let getting the occupants to leave be the bank's problem. If the latter, you are buying it with all the problems that are in place, and getting occupants out becomes your problem.

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