Tenants will have possession for 60 days after closing.2.

I see here that it is noted that the three years does not start until I take possession, however, how would I take possession if the residence is occupied?

Soon after, the condo is ready and you pay the remaining 20% after possession of the unit.In fact, most of the pre-built business is fueled by foreign capital: Argentineans, Uruguayans and recently Chileans.

possession with intention to sell

Edit: If you haven't taken possession yet,  tell the seller you will pay $2000 for delivering an empty home.  

I have a clause in my lease that the tenant initials that says at the time of our initial inspection I walked around and flushed every toilet and drained every sink/tub in front of them to show everything works fine at the time they are taking possession.

An unrecorded deed is more than effective to grant possession. 

After a week of back and forth it was finally ok'ed to close and I took possession of the property 2 days after. 

I'm trying to figure out how buying only REO is better for the seller than buying it before the bank takes possession?

I personally don't get offended one way or the other on this stuff, but some people are married to their possessions and would take it personal.