Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
Evicting a squatter (for lack of a better term)
I found the ugliest house in the block on this street where the home values are around $150K which for this town are nice homes. I sent a card to the listed owners which turns out to be a company as the owners. The house is unkept and has 3 or 4 derelict cars in the front yard that have been in the same place for 2 years (saw the cars in a google earth view from 2016). It seems the house was bought by this company for delinquent taxes. Apparently the tax delinquent resident, the former owner, is an aged woman that lives alone in the house. She has refused to vacate the house. The current owner has tried and reasoned with the lady to leave who is steadfast in her thinking she doesn't have to leave. The current owners took her to court where the judge told the lady she has lost the house and awarded for the current tenant. She has still refused to leave. The current owners have tried again to reason with her and she gets wild and belligerent and has faked a heart attack. The owners called me and told me the story. They have not gone to the sheriff's office to enforce the court order they just want the property off their hands. Their first offer was they want $40K for the house as iswithout them getting the lady out. They just don't want that negative karma. It seems with the $40K they will make far above what they paid in the delinquent taxes. The 1818 sq ft house built in 1987 comps at $148K with the same bd/ba, sq ft, age, within 2 miles (best I could get in this town). Repairs and upgrading at $15 ish/sq ft (I am told the roof has at one spot leaked so that she has a pan on the floor to collect the water. That is all I know of the inside. This could be a profitable deal yes but for the removing a lady from the house who has not made a house payment (the house is paid off) nor rent for about 18 months. Let add, according to the current owners rep that I am dealing with the lady has 2 sons in the area with means.
So is this just too wrapped up in drama to pursue?