I Won the Bid! Now What?

[Courtney Rollins]

Hi all, I am a newbie and I know just enough to get myself in trouble. I just won a bid on a property from Ashland Auctions in Baltimore and not sure what to do next during the due diligence stage since it is currently occupied. It is a property that was foreclosed on. I plan to BRRRR. This will be my first project. It is certainly not a home run, but I am eager to get in the game and to start getting on base. I have so many questions. For instance:

1. When we arrived at auction the tenant said his owner has cleared up all issues and that the house is not for sale. The auctioneer said that the owner was mistaken and the auction proceeded. I did a Maryland case search and it shows a close/inactive Foreclosure Rights of Redemption case closed 5/17/19. What does this mean for me? Do I have the right to purchase the property?
2. How do I arrange access to property for my contractors prior to closing if the current owner is resistant?
3. The last owner is obviously pretty upset to lose her home and lives right around the corner. Should I be in communication with her?
4. What about her tenant? Should I be in communication with him? I did stop by today and spoke with him. He has kept the property in good shape and has been there for 30 years, but is only paying $200 a month plus utilities!! I’m not entering this business to displace people, but def can’t keep that rate for a 4bed 2 bath row home!

Thanks again for everything BP nation!

[Ben Guttman]

@Courtney Rollins congrats! If you need a RE attorney I can definitely recommend a few.