Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on .

User Stats

18
Posts
0
Votes
Steven Lalonde
  • Castlegar BC, British Columbia
0
Votes |
18
Posts

Advice: Keeping current tenants in place or vacant possession?

Steven Lalonde
  • Castlegar BC, British Columbia
Posted

Hi BP,

A triplex deal I am working on involves one tenanted suite and two vacant suites. Made offer during pre-foreclosure, now bank is taking over the property as my offer is being considered. The property needs substantial renovations and I would like all suites vacant to do the rehab. My  realtor mentioned that it is not the bank's responsibility to give tenant notice to vacate property that once offer is accepted, due diligence period is complete and court stuff in done, during closing and possession, it will be my responsibility to evict the tenant if they do not cooperate and leave as told when i asked for vacant possession in the offer contract.

Is this a normal situation during the foreclosure process and dealing with REO properties?

Thanks,

Steve