Chicago Tenant in foreclosed property

[Alex N.]

Hi all and thanks so much for all the helpful advice posted on here. We are under contract on an REO (Freddie Mac) and it looks like there's a tenant inside still who has been totally non-responsive. Our thought is that they have been living there without rent and probably don't want to move--any advice on how to handle this?

Much appreciated.

[Crystal Smith]

@Alex N. We've had similar circumstances on REO & non REO properties. If it was a multifamily property then dealing with a squatter wasn't much of a risk. But if it's a Single Family we would counter offer the seller with a closing date based on the seller removing the squatter or providing us w/ some kind of compensation for the risk we were taking w/ a squatter. Sometimes it worked, sometimes it didn't. When it didn't work we cancelled the deal because of Illinois squatter friendly laws.