All Forum Posts by: John Nisewonger

So my wife and I bought an auction property and finally closed on it Oct 21. The property came with some tenants that we need to vacate.  We will be moving in to the property since it was bought as a first time homebuyer incentive through my wife (her name is the only name on the house). And it states we must occupy property within so many days.

I served a 30 day vacate notice since they were month to month.  I actually gave them until Nov 30 since I am a nice guy and also told them I didn't want any rent money.  They wanted 60-90 days.  I wanted to do a walk through to make sure it was safe and to avoid being sued over something stupid.  They have refused twice now.  We bought the house inside unseen (scary huh? but it was a steal and we lucked out since I did get some pictures from the appraisal but not many) .  I want pictures and an inspection because I feel that they are going to trash the place when they leave.

I ordered a home inspection for this Thursday and will deliver a 24 hr notice wed.  I spoke to the local sherrif dept and they said they can meet me there but stated they cannot force them to let me in. 

What do I do if they refuse again?  I have a key, I am giving proper notice, the old lease states owner can come in with a notice.  Can I just go inside?

Hello

So I am closing this Wednesday on a property I plan to use as my personal dwelling that I bought at a real estate auction.  The property has existing tenants that I will have to remove.

My question is how much of a notice to I have to give.  I do not know how long they have lived there nor if they are on vouchers or not (I will meet them probably right after closing).

I found that tenants paying rent on their own with no assistance get 30 days if they lived there less than a year.  60 days if they lived there over a year and also 60 days if they are on any kind of vouchers.  My info was pulled from numerous sources from numerous areas of the country including CA (which has very strict rules from what I found)

Is this true or is it just 30 day notice here in VA? Do I just serve them the notice to quit and that is it? Any info Virginia specific would be awesome!!!!! Thanks

Yes loan is approved.  I went through a mortgage broker.  Full appraisal was done and no issues.  If there were issues he said we would have to do a 203k or other construction loan.  I am not too savy on the diff. types of loans but he made it work.

I was originally looking at HUD houses on MLS and just happen to come across this auction as they advertised a few houses.

The auction house doesn't like to do loans as they take a long time but they took so long on their end that we were waiting on them.  Closing next Friday.

Its a conventional

Haha Troy yes I am sure they will tell me to do a thing or two to myself. I just hate to have to kick anyone out when it gets close to the holidays.

I just asked about the occupying thing because I caught a lot of crap from someone here on bigger pockets on another post awhile back.

Just got word today from auction house to proceed with closing and deal is 100% good to go.  Thanks everyone

Ok thanks guys I will submit a form when I close for them to leave within 30 days.  Im hoping these were long term tenants and the lease has gone to month-to-month.  I guess I will find out when I deliver the form for them to vacate.

I would assume that if the tenant has a valid lease I would have to honor it which would mess me up.  I had no other choice to go by what the auction house told me.

Any info on anyone who has bought a bankruptcy auction property I would def like to talk to.  This deal is going on 2.5 months now of me waiting and they continue to tell me deal is good to go just waiting on signed paperwork from the judge

Thanks for the replies.  This was a rough deal from the beginning.  A guy had 150 properties and went bankrupt and all went up for auction.  I happen to get this one property. 

The auction house posted what leases they had and the rest were month to month.  They spoke to him about this property and said it was month to month and no lease could be found.

Hopefully it works out or I will have to put down 20% to make it a rental (worse case scenario).  Right now my wife bought this as a first time homebuyer and didn't have to put much down.

House has $40k+ in equity from what she paid so I took a chance (just had it appraised). 

Virginia isn't as strict as California but I would like the process to go smooth.

I thought to get someone out you would have to evict.  What type of notice would I need to supply them with?  I have to be in that house within 60 days of closing with proof per my lender.  If they do not comply with my "get out" notice I would have to evict and that would take 30-45 days.  Thanks for the reply btw

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. 

So I bought a house using a first time homebuyer incentive through a bankruptcy auction.  The house has a tenant that is on month to month lease.  I will need to occupy the property within 60 days of closing.

I would like to get them out asap.  I was thinking about introducing myself and giving them a heads up while in the closing phase that I will be occupying the property.  Is that legal or do I have to wait until I close?

I think cash for keys option would be the first best thing I try.  Do you guys usually give them like a week or 2 to move out with a cash for keys deal?  I am very limited on time and an eviction could take some time if they decide not to move.

Any suggestions would be great!!!  Thanks guys