Purchasing on Auction.com Questions

[Jared R.]

What are the cost associated with obtaining possession of a home that is occupied that sells on Auction.com? Has anyone ever had any experience purchasing through Auction.com? If so, how did it go?

[Jeff West]

I have bought a house through auction.com There are many reasons that there are better ways to obtain a house at a discount, but I will answer the specific question you have. Assuming you pull the trigger and buy from them, you are responsible for taking possession, which means the possibility of conviction by going through the court system. Depending on what your strategy is and how quickly you need to gain actual possession, you may consider offering the occupants money to leave (read up on cash for keys)

There are a lot of little scams that can take place before a foreclosure, like the owners moving out and moving a tenant in last minute. States very in how they respond but in general, courts tend to protect tenants in foreclosed houses, meaning you could have someone living in it for up to a year if they have a lease. I have been able to get occupants out in a week, and have had to wait 2 months for them to vacate. Because I flip and time is money, I always did cash for keys to get them out as soon as possible.