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Updated 12 months ago on . Most recent reply
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Getting liability insurance on auction property before previous owner is evicted
Hi All,
I have not gone down the path of auctions in the past and there is one near me that is currently occupied and will be auctioned off in the next few weeks. I am interested in bidding on it and as a part of my research I have seen a lot on what process it would take to get the previous owner out of the house. I'd start with cash for keys but if that didn't work, seems like it may take 3-4 months to evict a person, my big question is getting liability insurance on the property.
I get that there isn't much I can do preventing the previous owner from trashing the place (she is 60+ so I doubt she's taking a hammer to the place) but I do worry that if she or someone else were to get hurt prior to an eviction and sues me.
Can you get insurance on a property under these conditions?
another question - anything stopping a person from leaving the water running, not nessesarilly to dammage the property but to run up a bill?
thanks in advance for your advice
Most Popular Reply
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this situation seems to be working out for me. I went and tried to talk to her again and she was much more lucid. She agreed to cash for keys but wanted a bit more time, my attorney worked with the bank and was able to push out the close.
Today I went to present the contract the the lawyer drew up for cash for keys and the person now wants to get out earlier and is looking to push the date up.
a good friend of mine had a saying, every now and again the sun shines on a Dog's A$$.
it was sunny today.........