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Updated over 8 years ago,
Buying an occupied property on Auction.com in MN...what now?
I'm picking up a town house via Auction.com that appears to be occupied by a tenant. I anticipate closing in June but the redemption doesn't end until July. I'm intending to do a quick flip as I'm buying it for $152k and the ARV is about $195k. I haven't seen the inside but these houses typically need about $5-10k to put them back to shape so there is a potential $20-$30k profit if I can get in and out quick. The property is in Woodbury, Minnesota.
My question is what's the best way to get the tenants out quickly? I've thought about knocking on the door and offering them $500 to leave. Other than that can I just evict immediately once the redemption expires? Do I just list "occupant" on the eviction? What if they have a valid lease? I'm just curious what others who have bought sheriff deeds have done when the property is occupied and the redemption is about to expire?
Thanks