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Updated over 9 years ago,

User Stats

93
Posts
11
Votes
John Nisewonger
  • Investor
  • Chesterfield, VA
11
Votes |
93
Posts

Evicting tenants in an auction bought property

John Nisewonger
  • Investor
  • Chesterfield, VA
Posted

So I am buying this property through an auction.  I have not closed on the property yet.  The property that I am purchasing has a month to month tenant in it that I plan on evicting as I will be living in this property.

As soon as I get final word that the deal is good to go I plan on going to the tenant and introducing myself and giving them a cash for keys deal.  (I will give you so much money if you can be out of the house by the time I close).

The tricky part is they legally here in Virginia have 30 days for me to evict them and their rent is $925 per month from the previous owner (who went bankrupt hence why its an auction). The other tricky part is that my wife is buying this property as a first time home buyer incentive and we aren't supposed to be renting it out.

If they turn down my cash for keys deal can I legally, after I close, charge them for that month rent that they will be staying on the property. I am worried they wont take the cash for keys deal and instead squat on the property rent free for a month (I was hoping they would leave for $500-600).

Any other options or ideas to get these people out would be helpful. 

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