What's most important is to regain possession of the property

I cannot tell you how many times I have been to eviction court and won possession but the judge does not award a money judgement.

Realistically it could take years, during which you probably won't be able to sell or refinance the property and the Borrower may be in possession of the property not you. 

Even worse, they have possession of the property and could destroy it on you.

Then next time around when they are first late you will know how to post notice (in MO it looks like it is called demand for rent or possession).  

If the property is going to be foreclosed there is no sense putting it in your name, but having the owner sign away his interest adds helpful finality to his move.When you have possession, or know you will have possession, advertise the house as a month to month rental making clear it is in need of work.   

Looking for advice on how to take possession and assess the rehab needs (including GC access) of a long distance auction purchase property after it has closed. 

Who takes possession of the home?

If you're talking about adverse possession there are certain timelines and criteria differing in each state for the occupant to have legal rights.

Sounds like an October 31 closing date should be considered ... and property to be delivered with all personal possessions removed and "broom swept" ...