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Updated about 8 years ago on . Most recent reply

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Don Spafford
  • Investor
  • Idaho Falls, ID
624
Votes |
908
Posts

Obtaining Possession after winning auction?

Don Spafford
  • Investor
  • Idaho Falls, ID
Posted

I am still new to REI and am looking at some auctions that really look to be great deals if I can get them at the right price. The problem is that the information says the house is currently occupied and the winner will be responsible for taking possession. Does anyone have experience with this and can educate me on what to expect? Would I just simply knock on the door and ask them to leave or pay rent, or should I bring the police to forcibly remove from the property? I would hate to win the auction and then get into a quarrel with the person living there and cause them to destroy it while moving out. I don't know if the people living there are the owners or somebody renting it. The auction website says not to disturb the occupants.

Also, if there is something that says "total estimated debt" would that be debt that I would be assuming with the win? Or is that just info saying how much is currently owed on the property but has nothing to do with the final winning bid amount?

Thanks for any help/suggestions on this.

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