Occupied Bank Auctions?

[James W.]

Hi,

Recently I've come across several bank auctions that are occupied - by owner or tenants.

i believe the bank has foreclosed on them and taken possession , but the dweller has not vacated yet. So they do not have interior pictures in the listings, and also don't have financing option - they are cash only.

Since the deed must have been transferred to bank during possession - I also think the title of these properties is clear and free of any liens.

Does anyone know how hard is it to take occupation of such properties after winning the bid?

[Kevin Hill]

You have to go through the eviction process, which is a pain in the *** in New Jersey. I have 3 foreclosures I am dealing with, all 3 are occupied. The bank is offering all 3 of them cash for keys, because its less costly and more timely to do that then go through the eviction process here.