Won Property @ Sherriff Sale now what

[Matt Laird]

Went to a Sherriff Sale and was the highest bidder on a Commercial building w/ acreage. I was under the impression I would take possession after to confirmation hearing. Is this correct? What do I need to do about evicting the owner and also did I buy the contents or do I have to give him a certain amount of time to vacate with the company's belongings? Any help will be appreciated thanks.. BTW the property is in Oklahoma..

[Mike H.]

Just so you know, you have clearly won the contest for jumping in with both feet first.

You bought a commercial building at an auction and are only now asking what you can do with it in terms of what it comes with and how to get the tenant out?

And I thought I was a risk taker. :-)

Some questions I'd be asking: Were there any liens on the property that are not getting wiped out as part of the auction? Any back taxes that need to be paid? How do you secure the property? What are the eviction rules/laws for commercial property vs residential? 

Typically, its much easier to get someone out of a commercial building than it is residential. But I would definitely get myself an attorney real quick to find out what my next steps were.

Still. Congratulations on the new building. Can you share the details of the deal?
1) How much did you get it for?

2) What do you think its worth?

3) How much do you think you can get for rent(s)?

4) Taxes, Insurance, etc

5) How big is it and what kind of commercial building is it? Warehouse? Storage, etc?