Obtaining Possession after winning auction?

Question

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.

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.

Account Closed · Answer

Find a realtor with experience in submitting offers on foreclosured property and ask your questions over coffee. Think the situation through and put yourself in the occupant's shoes, they might not want to leave. Some posters on BP with thick skin (like me) will tell you to knock on the door anyway. Tell them you're interested in the neighborhood and ask if they know of any homes for sale. You'll get a feel for what's ahead of you if you win the auction. Talk to the neighbors too just for practice, never know what you'll learn. Good luck in your new REI career.